FinancePMJJB
Pradhan Mantri Jeevan Jyoti Bima Yojana
A central government-backed life insurance scheme offering ₹2 Lakh cover for death due to any cause at an annual premium of ₹436.
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Official fee
₹4
The annual premium is ₹436, which is strictly debited automatically from your registered savings bank account. No cash payments are collected by agents.
Only the "Apply on official portal" button above leads to the verified government site.
Highlights and Media
Key Highlights
₹2 Lakh Life Coverage
Provides risk coverage of ₹2 Lakh in case of death of the subscriber due to any cause.
Auto-Renewal
Subscribers can opt for automatic renewal up to the age of 55 years through yearly auto-debit.
No Health Report
No medical examination or health certificates are required to join the scheme.
PMJJBY Premium vs Retail Life Insurance
Annual premium cost comparison for equivalent coverage of ₹2 Lakh
PMJJBY Government-Backed Premium
₹436 / yearStandard Commercial Term Plan
₹1,500+ / year (Estimated)Who is eligible
- Subscriber bank account is verified with Aadhaar and within the eligible age group of 18-50 years for PMJJBY.
Eligibility rules · v1 · effective 9 May 2015
How to apply
Net Banking Log In
Log in to your bank's net banking portal or visit the local bank branch.
Typical duration · 1 day
Fill Consent Form
Select the PMJJBY option, fill in the nominee details, and submit the auto-debit consent form.
Typical duration · 1 day
Auto-debit Authorization
Ensure sufficient balance in your bank account for the ₹436 premium deduction before May 31.
Typical duration · 5 days
Sources
- Jan Suraksha Portal — Ministry of FinanceMINISTRY_PORTAL · Fetched 5 July 2026
Additional Details
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a central sector social security life insurance scheme launched in May 2015 by the Ministry of Finance. Available to individuals aged 18 to 50 years with a savings bank account, the scheme provides a life insurance cover of ₹2 Lakh in case of death of the insured due to any cause. The annual premium of ₹436 is auto-debited from the subscriber's bank account on or before 31 May every year.