Name of the Scheme - Pradhan Mantri Jeevan Jyot Bima Yojana

Scheme Category – Insurance and Health

Scheme Description - This is a Term Life Insurance policy which covers the policyholder for an amount of up to Rs. 2 lakh. The premium amount is as low as Rs. 330 in a year and anybody within the age group of 18-70 years with a Savings Account in a bank can apply for this scheme. It’s an accidental insurance cover which helps the policyholder’s family in case of the accidental death of the policyholder.


  • 1) Any person aged between 18- 50 years having a saving bank account who give their consent to join / enable auto-debit, can join this scheme through participating banks.
  • 2) Even if you have multiple bank accounts, you can subscribe this scheme by only one saving bank account.
  • 3) In order to avail the benefits offered by the policy, it is mandatory to link your adhaar card to the participatory bank account.
  • 4) Insurance buyers joining the scheme after the primary enrolment period ranging from 31st August - 30th November will have to submit a self-attested medical certificate as a proof that he/she is not suffering from any critical illness mentioned in the policy declaration form.

Procedure to apply for the scheme:

  • Internet Banking:
  • 1) Users can download the online registration form to apply for the Pradhan Mantri Jeevan Jyoti Bima Yojana.
  • 2) You need to fill up the form with details such as your name, saving bank account number, email Id, address, etc. to apply for this scheme.
  • 3) The forms are available in Hindi, Bangla, Kannada, Tamil, Telugu, Odia, Marati, Gujarati.
  • 4) The online registration and amount claiming form is available in the official site - Click here
  • Phone Banking:
  • 1) Call the respective Bank Customer Care and select PMJJBY option to enroll for the scheme
  • Branch Banking:
  • 1) All nationalized banks provide the scheme.
  • 2) You can visit any of the banks to start getting benefits from the scheme by enrolling.

Monthly Contributions

  • Rs.330/- per annum per member for insurance upto Rs 2 Lacs.
  • The premium will be deducted from the account holder's savings bank account through 'auto debit' facility in one installment, as per the option given, on or before 31st May of each annual coverage period under the scheme. Delayed enrollment for prospective cover after 31st May will be possible with full payment of annual premium and submission of a self-certificate of good health.

Important Facts to know about PMJJBY:

  • 1) For new members enrolling into the scheme the risk will not be covered during the first 45 days from the date of enrollment into the scheme (lien period) and in case of death (other than due to accident) during lien period, no claim would be admissible.
  • 2) If the insurance cover is ceased due to any technical reasons such as insufficient balance on due date or due to any administrative issues, the same can be reinstated on receipt of full annual premium and a satisfactory statement of good health. During this period, the risk cover will be suspended and reinstatement of risk cover will be at the sole discretion of UC / insurance company concerned.
  • 3) There is no maturity or surrender benefit under this plan.
  • 4) On attaining age 55 years (age neared birth day) subject to annual renewal up to that date (entry, however, will not be possible beyond the age of 50 years).
  • 5) Closure of account with the Bank or insufficiency of balance to keep the insurance in force.
  • 6) In case of multiple coverage under the scheme, insurance cover will be restricted to Rs. 2 Lac and the premium shall be liable to be forfeited.
  • 7) In the case of a joint account, all holders of the said account can join the scheme provided they meet its eligibility criteria and pay the premium at the rate of Rs.330 per person per annum.
  • 8) Tax Benefit : The premium paid towards the policy is eligible for tax deduction under section 80C of Income Tax Act. In case the insurance holder fails to submit form 15 G/15 H then any life insurance proceeds exceeding Rs. 1,00,000 will be taxable by 2%.

Claim Settlement:

The death claim will be settled by the designated Office of Insurance Company concerned. The process followed will be as under:

Steps to be taken by the Nominee

  • 1) Nominee to approach the bank wherein the member was having the 'savings bank account' through which he/she was covered under PMJJBY, along with the death certificate of the member.
  • 2) Nominee to collect claim form, and discharge receipt, from the bank or any other designated source like insurance company branches, hospitals, insurance agents etc., including from designated websites.
  • 3) Nominee to submit duly completed claim form, discharge receipt, death certificate along with a photocopy of the cancelled cheque of the nominee's bank account(if available) or the bank account details to the bank wherein the member was having the 'savings bank account' through which he/she was covered under PMJJBY.

Compiled and Edited by Lead Optimist(PFA) - Ramya Gowri Jayakumar

Disclmer - We have created this article basse on officiaI circulars and clarifications from officials. However the scheme related details are subjecte to change and we do not guarantee any promoises. All the information in this article in intended for informational purpose only an greating awareness among citizens