PMJJBY – Pradhan Mantri Jeevan Jyoti Bima Yojana

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The Pradhan Mantri Jeevan Jyoti Bima Yojana is a one-year life insurance plan that is renewable from year to year, and offers coverage for death. It’s administered by private and public sector insurance companies in partnership with commercial banks, regional rural banks, and cooperative banks.

PMJJBY is a one-year life insurance plan with renewable coverage. It covers death and nothing else, Pradhan Mantri Jeevan Jyoti Bima Yojana is a pure term insurance policy that covers only death and not any investment component.

The government has been putting a lot of emphasis on the insurance sector to help people who have coverage. In the past, more people didn’t have insurance so it was important to include the poor and low-income groups in society. The goal is to foster inclusive growth and promote the idea of “together with all, development for all”.

Features of the Scheme

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There are no maturity or surrender benefits on this plan.

Enrolment: The date of coverage starts on either the 1st of June or when the enrollee choose to sign up for a policy. The insurance is valid for one year and will be paid as one payment from your bank / post office account.

Exclusion: The plan doesn’t cover death (other than by accident) that happens during the 30 days following your enrollment date. This period is called the lien period and no claims are eligible while it’s in effect.

Pradhan Mantri Jeevan Jyoti Bima Yojana Eligibility

The Eligibility Criteria of the policy are as follows:

  • Anyone who is between the ages of 18- 50 and has a savings account (through any bank) can join this initiative. 
  • Regardless of the number of bank accounts you have, anyone is welcome to join this scheme by opening one saving bank account.
  • In order to take advantage of this new policy, you will need to link your Aadhar card to your eligible/participatory bank account.
  • For insurance buyers who join the plan from August 31st – November 30th, they’ll need to provide a self-attested medical certificate confirming that they don’t suffer from any listed critical illness in the policy declaration form.


The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a life insurance scheme that provides financial coverage in the event of death. The scheme is open to all Savings Bank account holders aged between 18 and 50 years, and offers a sum of Rs. 2 lakhs in the event of death due to any reason. The PMJJBY is an affordable and convenient way to get life insurance coverage, and we encourage you to consider enrolling in the scheme if you are eligible.

Ashish jha

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