Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY): Securing Life, Empowering Families.

Highlight of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

• Launch Date: May 9, 2015.
• Objective: To provide affordable life insurance for all, especially targeting the underprivileged.
• Coverage: A life cover of ₹2,00,000 in case of the subscriber’s death, regardless of the cause.
• Premium: ₹436 per annum, automatically deducted from the subscriber’s bank account.

   

Pradhan Mantri Jeevan Jyoti Bima Yojana Eligibility Criteria

• Indian Citizenship: The scheme is exclusively available to Indian citizens.
• Age Group: 18 to 50 years.
• Account Requirement: Must have a savings bank or post office account.
• Continuation: Subscribers joining before the age of 50 can continue coverage until the age of 55 by paying the premium​

Documents Required for Application

• Savings bank or post office account details.
• Aadhaar Card (for identity verification).
• Consent form authorizing auto-debit of premium.

Application Procedure

• Enrollment Process:
  1. Visit your bank branch, post office, or business correspondent (BC) point.
  2. Submit the consent form with required details.
  3. Authorize the annual auto-debit of ₹436 from your savings account.

Online Application

• Enrollment can be done via the bank’s website or mobile banking applications, provided they offer the service.

Offline Application

• Visit your bank or post office to complete the application process manually by filling out the required form and submitting necessary documents.

Where to Apply

• Public and private sector banks tied up with insurance companies, regional rural banks (RRBs), cooperative banks, or post offices.

Application Form

• Available at participating banks, post offices or online on official portals like Jan Suraksha or individual bank websites.

Pradhan Mantri Jeevan Jyoti Bima Yojana Important Links

FAQs about Pradhan Mantri Jeevan Jyoti Bima Yojana.

1. What happens if I miss the premium?
   • The policy lapses, but you can re-enroll by paying the premium.
2. Can I enroll in multiple accounts?
   • No, one person can have only one policy under PMJJBY.
3. Is Aadhaar mandatory?
   • Aadhaar is preferred but not compulsory if other valid KYC documents are provided.
4. Is there a waiting period?
   • For deaths other than accidents, there is a 45-day waiting period from the date of enrollment.