Government Backed Life Insurance
Pradhan Mantri Jeevan Jyoti Bima Yojana
(PMJJBY)
A low-cost life insurance scheme offering ₹2 Lakh coverage for just ₹436 per year. Secure your family's future against any eventualities.
Key Scheme Highlights
Designed for maximum accessibility, PMJJBY ensures comprehensive life cover for you and peace of mind for your loved ones.
Frequently Asked Questions
Any individual holding a savings bank account with an age between 18 and 50 years is eligible to apply for PMJJBY.
The premium is ₹436 per annum per member. It will be deducted automatically from the account holder's savings bank account in one installment on or before the 31st of May every year.
PMJJBY provides life insurance coverage of ₹2 Lakhs payable to the subscriber's nominee in case of death due to any reason.
Yes, there is a lien period of 30 days from the date of enrollment. If death occurs within this period (other than by an accident), no claim is payable.
In the unfortunate event of the subscriber's death, the nominee should approach the bank branch where the subscriber had the account with the death certificate and the claim form to initiate the settlement process.