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Pradhan Mantri Jeevan Jyoti Bima Yojana Scheme

Pradhan Mantri Jeevan Jyoti Bima Yojana

Pradhan Mantri Jeevan Jyoti Bima Yojana Scheme

Pradhan Mantri Jeevan Jyoti Bima Yojana is a life insurance scheme introduced by the Government of India. This scheme offers insurance coverage on the death of a person. The policy can be renewed every year by remitting an annual premium of  Rs. 330. In this article, we look at the PMJJBY scheme with respect to its features, eligibility criteria, and enrollment procedure.

Salient Features of PMJJB

  • PMJJBY scheme targets the poor and underprivileged people as the beneficiaries of insurance amount on their death.
  • This is a one-year life insurance plan and it will be renewed by the auto debit system from the concerned savings bank account.
  • A sum of Rs. 2 lakh will be provided to the nominee in case of death due to any cause for a period of one year at a premium payment of Rs. 330 per year.
  • Individuals can exit from the scheme at any time, and may re-join the scheme in the future by submitting self-declaration of good health certificate.
  • Pradhan Mantri Jeevan Jyoti Bima Yojana is exempted from GST.

Eligibility Criteria

This scheme is available to the people aged between the range of 18 to 50 years. The nominee should maintain a savings account under the Pradhan Mantri Jan Dhan Yojana scheme.

Premium Amount 

From the total premium amount of Rs. 330 per year, the nominee should pay a sum of Rs. 289 per member for the insurance premium to the respective insurance company. The agents/ bank will charge reimbursement of expenses Rs. 30 per annum per member. Reimbursement of administrative expenses Rs. 11 will be charged by the participating bank.

Claim Settlement Procedures

The nominee should approach the bank where the deceased person was holding the savings account under the scheme, along with the death certificate. The claim form and the discharge receipt from the bank/concerned insurance company/government website can be obtained at

The nominee should submit the completed claim form, discharge receipt, death certificate along with the photocopy of nominee’s bank account. Finally, the concerned bank will forward the completed claim form to the designated insurance company for the claim settlement.

Enrollment Procedure

PMJJBY is organized by the LIC and other Indian insurance companies. One must consult with their bankers for further details and the bank must tie up with the concerned insurance companies. If the nominee has multiple bank accounts, only one account will be considered.

Step 1: The nominee should approach the concerned bank to get the application form. The application forms are available in seven Indian languages including English. One can also download the form from the website

Step 2: The nominee should accept the terms and conditions of yearly auto-debit processing from the applicant’s savings account.

Step 3: The nominee should pay Rs. 330 of the premium amount as a prospective cover.

Step 4: Following details are required to be furnished while filling up the form,

  • a) Saving Bank Account No.
  • b) Aadhar No.
  • c) Applicant’s permanent address
  • d) Applicant’s guardian address
  • e) E-mail Id
  • f) Mobile No.

Step 5: The enrollment period is mentioned from 1st June of each year to 31st May of the subsequent year.

Claim Duration

The nominee can claim the risk cover under PMJJBY only after the first 45 days from the date of enrollment. Death occurring due to accidents will be exempted from the 45 days of claim duration.