PM Jeevan Jyoti Bima Yojana: Who Can Apply, What You Get & How to Enroll
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a life insurance scheme launched by the Government of India. It’s designed to make life insurance affordable and accessible to everyone — especially those who may not usually get covered.
With a premium of just Rs 436 per year, this scheme provides a life cover of Rs 2 lakh, which goes to your nominee if something happens to you.
What Is PMJJBY All About?
PMJJBY is a one-year term life insurance plan that renews every year. If the insured person passes away (due to any cause), their family or nominee gets Rs 2 lakh as a benefit.
It’s run by LIC and other insurance companies in partnership with banks, making it easy for anyone with a bank account to join.
Who Can Apply?
To be eligible for this scheme:
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You must be between 18 and 50 years of age
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You should have a savings bank or post office account
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You must give permission for the premium to be auto-debited every year
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The coverage lasts until you turn 55, as long as you renew it each year
What’s the Premium and What Do You Get?
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Premium: Rs 436 per year (less than Rs 2 per day)
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Life Cover: Rs 2 lakh (paid to nominee in case of death)
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Coverage Period: From 1st June to 31st May every year
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Renewal: Auto-debit must be enabled before 31st May each year to continue coverage
This is one of the cheapest life insurance options available in India.
How to Apply Online
If you use net banking, you can apply for PMJJBY in just a few steps:
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Log in to your net banking account
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Go to the ‘Insurance’ or ‘Social Security’ section
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Select ‘Pradhan Mantri Jeevan Jyoti Bima Yojana’
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Choose your bank account for premium payment
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Submit the form and enable auto-debit
Once done, your policy will be active and renewed automatically each year (if you keep your balance ready).
How to File a Claim
In case of the policyholder’s death or permanent disability:
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The nominee or policyholder (in case of disability) needs to fill a claim form
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Submit it along with the following:
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Identity proof (Aadhaar, PAN)
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Bank account details
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Death certificate (if applicable)
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Signature of the claimant
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The claim form should be submitted to the bank where the insurance was taken. Once processed, the claim amount is directly transferred to the nominee’s account.
Which Banks Offer PMJJBY?
The scheme is available through almost all major banks:
Public Sector Banks:
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State Bank of India
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Punjab National Bank
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Central Bank of India
Private Banks:
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HDFC Bank
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Kotak Mahindra Bank
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Karur Vysya Bank
Regional Rural Banks:
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Andhra Pragathi Grameena Bank
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Assam Gramin Vikash Bank
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Karnataka Vikas Grameena Bank
Cooperative Banks in different states also offer this scheme.
Final Take
If you’re looking for simple and low-cost life insurance, PMJJBY is a smart option. For just Rs 436 per year, your family can get Rs 2 lakh in case of your unfortunate death.
It’s especially helpful for people who don’t have other insurance plans or those with limited income. And since it’s backed by the government, the process is smooth and trustworthy.
So, if you’re eligible, apply today through your bank and give your family a basic financial safety net.
