Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) - A Complete A-Z Guide

25 Nov 2022

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Ever seen a poster at your bank or received an SMS from your bank or from GOI about Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). If so, do you know what it is? Well, it is a scheme offered by the Life Insurance Corporation and other life insurance companies who have joined the PMJJBY scheme and tie-up with banks for the same.

What is PMJJBY?

Launched by the Prime minister of India on 9th May 2015, Pradhan Mantri Jeevan Jyoti Bima Yojana is a term insurance scheme that offers renewable insurance coverage of Rs. 2 lakh on a premium of Rs.436/- per annum per member. It covers death on account of any reason and needs to be renewed on a yearly basis. In this article, you will get all the necessary PMJJBY details.

Eligibility Criteria for Pradhan Mantri Jeevan Jyoti Bima Yojana

  • Age - 18 to 50 years
  • A functioning bank/Post office account in India
  • A person holding multiple bank/Post office accounts, the person is eligible to join the scheme through one bank/ Post office account only.
  • Aadhaar Card linked to your participatory bank/Post office account

PMJJBY Features and Benefits

Enrolment Period

  • The enrolment period begins every year from 1st June till 31st May of the subsequent year. This particular period is also the time for which you get coverage. Hence, you must apply and give your auto-debit consent by 31st May.
  • In case of delayed enrolment for prospective cover, payment of pro-rata premium is charged as:
    • In September, October & November – pro rata premium of Rs. 342/-
    • In December, January & February – pro rata premium of Rs. 228/-
    • In March, April & May – pro rata premium of Rs. 114/-
  • A lien period of 30 days is applicable from the date of enrolment.
  • You will be required to submit written consent to the bank/Post office for the auto-debit of premium and also ensure that the minimum amount of premium is available at the time of auto-debit.
  • Individuals joining after the last date of enrolment must pay the full premium at the time of joining with a self-declared health certificate.

Enrolment Modality

  • No claim would be admissible in case of death (other than due to accident) during the lien period.
  • Individuals who exit the scheme at any point may re-join the scheme in future years.
  • No claim would be passed in case of death (other than due to accident) during the lien period if the individual exits the scheme during or after the first year and re-joins on any date on or after 01st June 2021.


1 year from the date of signing

PMJJBY Renewal:

The insured person can renew his/her PMJJBY every year up to the age of 55 years. In case the insured person wishes to discontinue PMJJBY, he/she can stop renewing it. The renewal period is in the last week of May.

Payment Mode:

Auto-debit of the premium from your savings bank or Post office account.

Tax- Benefit:

Premiums paid towards the PMJJBY scheme are applicable for tax exemption under Section 80C of the Income Tax Act of India. But if the insurance holder fails to submit Form 15 G or 15 H, then any life insurance proceeds exceeding Rs. 1 lakh will be taxable by 2%.

No Maturity Benefit:

Since Pradhan Mantri Jeevan Jyoti Bima Yojana is a pure term insurance plan, it doesn’t offer maturity or surrender benefits.

Termination of the scheme:

  • On attaining the maximum age of 55 years.
  • Closure of attached bank/Post office account.
  • Insufficiency of balance at the time of auto-detection or renewal.

How to Apply For PMJJBY?

You can apply for the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) by visiting the nearest branch of your bank or Post office, by Policy SMS facility, by visiting the official Jansuraksha website, or by net banking facility.

PMJJBY Premium & Coverage

PMJJBY Premium - Rs.436/- per annum per member.

PMJJBY Coverage - a risk coverage of Rs.2 lakh for 1 year is payable on a member's death due to any cause. Also the coverage amount given to the beneficiary is tax-free.

How to get enrolled in PMJJBY?

Online enrolment process through the website:

  • Download the PMJJBY form from the official website
  • Click on the ‘Application Forms’ tab.
  • Fill out the form and submit it.

Through SMS Facility:

  • Send a message on the toll-free number of your designated bank.
  • You'll in return receive the activation message.
  • Type ‘PMJJBY Y’ in reply
  • You will receive an acknowledgment receipt.
  • At last, the processing information will be handled by the bank from the back end of your savings account.

Through Internet Banking:

  • Log in to your internet banking account and click on the ‘Insurance Tab’.
  • Select the bank account you wish to use for paying the premium.
  • Check your details once and confirm.
  • Download the receipt and don’t forget to note down the reference number stated for future use.

Offline enrolment process:

  • Visit any nearest affiliated bank or insurance company.
  • Ask for a PMJJBY application form.
  • Submit the filled form.
  • A premium of 436/- per annum per member will be deducted automatically from the savings bank account.

PMJJBY Claim Process

The claim process of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is quite simple and understandable. Given below are the three different claim processes followed by the beneficiary, the bank, and the insurance company:

Claim process followed by the Beneficiary

  • Step 1 - In a situation, where the policyholder dies, the nominee has to visit the policyholder's savings bank account linked to the PMJJBY scheme and has to submit the policyholder's death certificate.
  • Step 2 - The beneficiary can then obtain the claim form from the bank or the insurance company.
  • Step 3 - Fill out the duly filled claim form and submit it along with supporting documents like discharge receipt, death certificate, a copy of cancelled cheque, policy holder’s and nominee's bank account details, KYC documents of deceased & nominee and account statement of deceased.

Claim process followed by the Bank

  • Step 1: The bank will verify the form and documents submitted by the nominee.
  • Step 2: Once the verification is done, the bank will submit the claim through online to the designated insurance company.

Claim process followed by the Insurance Company

  • Step 1: Upon receiving the claim form and documents from the bank, the insurance company will also verify the filed claim.
  • Step 2: When the insurance company is fully satisfied with the information given by the nominee and the verification is successfully done, the claim amount will be transferred to the beneficiary's bank account.

The insurance company takes approximately 30 days to approve it and disburse the claim amount. You can follow up with the bank to know your PMJJBY claim status.


Even though the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) was launched for the betterment of the poor and low-income section of society, any individual can take benefit as it not only secures the financial future of the individual but also provides security to his/her family to cover any fortuity.

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