All You Need to Know About PMJJBY

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Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), first mentioned in the 2015 Budget Speech of then-Finance Minister Arun Jaitley, was launched by our Hon’ble Prime Minister Narendra Modi on May 9, 2015. It is a life insurance scheme that aims to provide death cover to the lower-income section of society.

All You Need to Know About PMJJBY

Features of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

  1. The scheme is a term insurance policy that covers death due to any reason.
  2. It is a one-year cover that can be renewed every year.
  3. The scheme is offered and administered by Life Insurance Corporation.
  4. Other life insurance companies can also offer the product only if they are willing to offer the product on similar terms. These companies will also need to take necessary approvals and tie-ups with banks.
  5. The scheme provides a fixed coverage of Rs. 2 lakh to the nominee of the insured.
  6. The benefits of the scheme can be availed anywhere in the country.

Who is Eligible for PMJJBY Scheme?

  1. Individuals under the age group of 18-50 years are eligible to join the scheme.
  2. There is no restriction on gender.
  3. Individuals must be account holders of participating banks.
  4. Individuals must have an Aadhaar Card as it is mandatory to link Aadhar Card to the participating bank.
  5. Individuals must give their consent to join/enable the auto-debit feature to make premium payments.


Rs. 436/- per annum per member. It will be deducted from the account through the auto-debit facility in one installment. In case of delayed enrolment, the pro-rata premium will be paid as described below:

  • Rs. 342/- is payable as a pro-rata premium for enrolment in September, October, and November.
  • Rs. 228/- is payable as a pro-rata premium for enrolment in December, January, and February.
  • Rs. 114/- is payable as a pro-rata premium for enrolment in March, April, and May.
Also Read:  Top 5 Reasons for Delay in Claim Process

What are the benefits of PMJJBY?

  1. The scheme provides a death benefit of Rs. 2 lakh to the beneficiary/nominee of the policy in case of the demise of the insured person during the tenure of the policy. The scheme does not offer any maturity or survival benefit to the insured person.
  2. It provides tax benefits under section 80C on premium payments.
  3. The policy can be easily renewed every year.

Insurance Samadhan

When Can We Claim for PMJJBY?

A new subscriber to the scheme (joined on or after 1st June 2021) can only avail claim for death (other than due to accident) occurring after the first 30 days from the date of joining the scheme (lien period) ends.

Individuals who exit the scheme can rejoin it at any time in the future. The lien period will also be applicable to the individuals who decide to rejoin the scheme on or after 1st June 2021.

How to Claim In PMJJBY?

  1. The nominee of the policy is required to approach the bank wherein the member was having the bank account through which he was covered under the scheme. He needs to submit a copy of the death certificate.
  2. Then he is required to collect the claim form and discharge receipt from the bank or any other designated source (insurance company, insurance agent, etc.).
  3. Fill and submit the claim form along with the discharge receipt, death certificate and a xerox copy of cancelled cheque of the nominee’s account.

The bank will verify the claim form and details of the nominee from the records available to them. Then the bank will submit the necessary documents to the insurance company. If the claim is eligible in all respects, the insurance company will pay the claim amount within 30 days from the submission of the claim form.

Also Read:  Steps to Deal with Insurance Mis-selling

Read How Insurance Samadhan helped a customer to get her claim under PMJJBY

Sachin enrolled himself in the PMJJBY scheme in 2018. He renewed the scheme every year. In 2022, he died due to a snake bite. His wife, laxmi approached the bank and followed the whole process of the claim. She was expecting that she will receive the claim amount soon. However, she did not even receive a response from the bank. She did not know how to proceed to get the claim amount.

Later, her neighbour informed her about Insurance Samadhan. She contacted us with her case. We verified the details and came to the conclusion that it was a case of delay in the claim. We guided her with the case and she got the claim amount within a month.

If you are facing any insurance-related problem, you can approach Insurance Samadhan.*

Insurance Samadhan has resolved 14,500+ insurance complaints in the last four years. The complaints include claim rejection, delay in the claim settlement process, mis-selling and fraud in insurance.

Contact us to get samadhan for your insurance-related issues, we’ll be happy to help you.

*Insurance Samadhan is a private organization and has no association with IRDA or any Government body.

Click on the below links to read some cases resolved by Insurance Samadhan:

Cashless claim rejection

Mis-selling in a life insurance policy

Dengue Claim Rejection

You can also

Click here to register your case with us

Visit our website: insurancesamadhan.com

Call us on +91 9513631312

WhatsApp:  9910998252

Mail us at corporate@insurancesamadhan.com

Insurance Samadhan

Shailesh Kumar


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