The PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana) is a government-supported life insurance scheme designed to provide affordable financial protection for citizens across India. It provides life cover to families if the insured person dies, whether due to natural causes or an accident.

For just a small amount of money per year, the Pradhanmantri Jeevan Jyoti Bima Yojana ensures that even low-income individuals can access essential life insurance. The scheme’s simplicity and affordability have made it one of the most popular government-backed insurance options in the country.

The main goal of it is to bring life insurance within reach of every household. It eliminates the complexity often associated with insurance and focuses on easy enrollment and low cost. For many first-time policyholders, PMJJBY represents a crucial safety net for their family’s future.

Background and Objective

The PMJJBY policy was launched on 9 May 2015 by Prime Minister Narendra Modi in Kolkata. It was introduced along with the Pradhan Mantri Suraksha Bima Yojana (PMSBY) and the Atal Pension Yojana (APY), as part of India’s wider financial inclusion initiative. Initially priced at ₹330 and later revised to ₹436, the Pradhan Mantri Jeevan Jyoti Bima Yojana was designed to make life insurance accessible for all, especially those working in the unorganised sector.

Since its introduction, the program has helped millions of families gain access to life protection at minimal cost. The objective behind this policy is not only to provide insurance but also to encourage financial awareness among citizens. Through affordable insurance, the government aims to ensure that families are not left helpless in case of a tragedy.

Eligibility & Rules

Anyone can apply for the scheme if they are an Indian citizen aged between 18 and 50 years and have a savings account in India. The PM Jeevan Jyoti Bima Yojana age limit for renewal is up to 55 years, provided the premium continues to be paid.

A person can apply through only one bank account, ensuring fairness and simplicity. This clear structure helps the policy remain accessible to everyone. Applicants are not required to undergo medical tests, and minimal documentation is needed.

Pradhan Mantri Jeevan Jyoti Bima Yojana Benefits & Coverage

The scheme offers essential financial protection to families at an affordable premium of just ₹436 per year. Under this scheme, the nominee (NOK) receives ₹2 lakh coverage in the unfortunate event of the policyholder’s death, whether due to natural, accidental, or illness-related causes. Beyond life coverage, the scheme provides tax benefits under Section 80C of the Income Tax Act, adding extra value for policyholders. 

Designed to be simple, inclusive, and reliable, PMJJBY helps prevent families from falling into financial distress during difficult times while promoting insurance awareness and encouraging citizens to prioritise financial security for their loved ones.

Renewal and Duration

The policy’s coverage lasts one year, from June 1 to May 31, and can be renewed annually through an auto-debit facility, ensuring a hassle-free experience for subscribers.

If sufficient funds are unavailable during renewal, the policy may lapse, but it can be reactivated easily by paying the premium again without any penalty. The auto-renewal feature makes the PMJJBY convenient and reliable, ensuring uninterrupted protection for families year after year.

Who Implements the Scheme

The Pradhanmantri Jeevan Jyoti Bima Yojana is managed by the Life Insurance Corporation of India (LIC) along with various private insurance companies. These insurers work closely with both public and private banks to make the policy easily accessible across India.

This collaboration has allowed the scheme to reach rural and semi-urban populations that were previously underserved. The banks act as intermediaries that collect premiums and process applications, while insurers like LIC ensure smooth claim settlements.

How to Apply for the PMJJBY Policy

Applying for the policy is quick and simple. The government has made the process available both online and offline.

Offline method: Visit your bank branch, ask for the PM Jeevan Jyoti Bima Yojana form, and fill in your personal and nominee details. Sign the consent form allowing your bank to auto-debit the premium.

Online method: You can use the Pradhan Mantri Jeevan Jyoti Bima Yojana Apply Online option available in your bank’s net banking portal or mobile app. Select the scheme, confirm your details, and activate your coverage instantly.

This dual approach ensures that the policy is accessible to everyone, whether living in a major city or a small rural town.

Documents Required

To apply for PMJJBY, you’ll need the following documents

• Valid Aadhaar Card

• Active Savings Bank Account

• Nominee Details – including name and relationship

• Passport-sized Photograph (required for offline applications)
  

Since most banks already have KYC details of account holders, no separate verification is needed. This makes the application process extremely smooth and efficient.

Claim Process

If the insured person passes away, the nominee must visit the bank branch where the policy was taken and submit a claim form. The nominee also needs to provide the death certificate, Aadhaar copy, and bank account details. After verification, the insurance company transfers ₹2 lakh directly to the nominee’s account.

The yojana ensures fast and transparent claim settlements, typically completed within a few weeks. This simple and efficient process ensures that the PMJJBY (Pradhanmantri Jeevan Jyoti Bima Yojana) fulfils its true purpose, providing timely financial assistance to families in need.

Confusion with the PMSBY Scheme

Many people confuse this scheme with the Pradhan Mantri Suraksha Bima Yojana (PMSBY). While both are government-backed, they cover different types of risks. This policy provides life insurance coverage for death due to any cause, while PMSBY covers accidental death or disability. The annual premium for this policy is ₹436, whereas PMSBY costs ₹12 per year. 

Together, PMJJBY and PMSBY form an effective dual safety net, providing coverage for both life and accidents at a very minimal combined cost. Citizens can opt for both to ensure comprehensive protection.

Impact and Reach

Since its launch, this scheme has reached millions across India, offering affordable life insurance to those who previously had none. Due to its simplicity, this policy has become one of the best life insurance policies in India.

By encouraging citizens to take out insurance, the scheme has improved financial stability and reduced reliance on informal borrowing during crises. The government promotes PMJJBY through awareness drives and partnerships with banks and digital platforms.