Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
₹2 lakh to your family if you die, for a premium of around ₹436 a year
This is life insurance kept deliberately cheap. You pay around ₹436 once a year, taken straight from your bank account, and if you die from any cause your family receives ₹2 lakh. It is open to bank account holders aged 18 to 50, and if you joined before 50 the cover continues up to age 55.
Who can apply
- Holder of a savings bank account
- Aged 18 to 50 years at the time of joining
- Cover continues up to age 55 for those already enrolled
- Must agree to the yearly premium being auto-debited from the account
Who cannot apply
- Persons above 50 years of age joining for the first time
What to take with you
- Bank account details
- Aadhaar card
- Consent and auto-debit form given by the bank
- Nominee details
How to apply
Ask your bank branch or your bank's mobile app to enrol you in PMJJBY, and give consent for the yearly auto-debit. Scheme details are at jansuraksha.gov.in.
Rejected or still waiting? Check these first
Most applications fail for a correctable reason, not because the applicant was ineligible. Before assuming you do not qualify, check each of these:
- Not enough balance in the account on the auto-debit date, so the cover lapses
- Nominee details not filled, which delays the claim for the family
- Applicant was above the joining age limit
Still stuck after checking all of these? Tell us what happened and we will help you work out which office to approach.