Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a one-year life insurance Scheme renewable from year to year. It offers coverage of Rs. Two lacs for death due to any reason and is available to people in the age group of 18 to 50 years having a bank account.
- Annual premium is Rs.436 per year;
- Risk Cover period: 1st June to 31st May;
- It involves convenient bank account linked enrolment and premium payment through auto-debit from the bank account of the subscriber;
- The scheme is being offered by the Life Insurance Corporation and all other life insurers willing to offer the product on similar terms with necessary approvals and tie up with Banks for this purpose.
Progress under PMJJBY (as on 28.02.2025):
Cumulative enrolment : 23.12 crore