Tools To India
Social securityCentral schemeLaunched 2015

PM Jeevan Jyoti Bima Yojana — ₹2 Lakh Life Cover

A term life insurance scheme giving ₹2 lakh of cover for any cause of death, for an annual premium auto-debited from your bank account.

Administered by Ministry of Finance — Department of Financial Services.

Last updated

Official source last verified 9 August 2026

At a glance

Cover
₹2,00,000 for death from any cause
Annual premium
₹436, revised with effect from 1 June 2022
Age
18 to 50 at entry; cover continues to 55
Cover period
1 June to 31 May, renewed annually
Enrol through
Your bank or post office

Who this scheme is for

  • Anyone aged 18 to 50 with a bank account who has little or no life insurance.
  • Households where one earner supports others and even modest cover would matter.

Benefits

  • ₹2,00,000 paid to the nominee on the death of the insured, from any cause.
  • A very low annual premium relative to the cover, because the scheme is a group policy with no medical underwriting.
  • Premium is auto-debited from your bank account, so there is nothing to remember to pay.
  • No medical examination is required to join.
  • Cover renews automatically each year as long as the auto-debit succeeds and you remain within the age limit.

Eligibility

  • Aged between 18 and 50 at the time of joining. Cover continues until the age of 55, provided the premium is paid.
  • A savings bank account or post office savings account is required, with consent for auto-debit.
  • Aadhaar is the primary KYC document.
  • A person can hold only one PMJJBY policy, even if they have accounts at several banks. Multiple policies do not multiply the cover.

Documents required

  • Aadhaar of the applicant
  • A savings bank account or post office savings account
  • A completed consent-cum-declaration form, available at the bank
  • Nominee details — this is important and often left incomplete

How to apply

  1. Approach the bank or post office where you hold a savings account.
  2. Ask for the PMJJBY consent-cum-declaration form, or enrol through your bank’s net banking or mobile app where offered.
  3. Complete the form, including full nominee details.
  4. Give consent for the annual premium to be auto-debited from your account.
  5. Keep sufficient balance in the account on the debit date — a failed debit means cover lapses.
  6. Retain the acknowledgement. Tell your nominee that the policy exists and where the acknowledgement is.
Jan Suraksha — jansuraksha.gov.inThe official portal for this scheme.https://jansuraksha.gov.in/(opens the official website in a new tab)

Tell your nominee it exists

The most common reason a PMJJBY claim is never made is that nobody in the family knew about the policy. It is a small annual debit on a bank statement, easily overlooked, and the person who would need to claim is precisely the person who did not enrol.

Write down the bank, the policy acknowledgement and the claim process, and tell whoever you have nominated. A claim that is never filed is identical, in effect, to having no cover at all.

How a claim is made

  1. The nominee approaches the bank branch where the account was held.
  2. They submit the claim form along with the death certificate and the nominee’s bank account details for the payout.
  3. The bank forwards the claim to the insurer administering the scheme for that bank.
  4. The claim amount is credited to the nominee’s account once approved.
  5. Where a claim is delayed or rejected without clear reason, the bank’s grievance mechanism and the insurer’s ombudsman are the escalation routes.

What it is not

  • ₹2 lakh is meaningful but small. It is a floor, not a substitute for adequate term insurance if your family depends on your income.
  • It is pure term cover — there is no maturity value and no return if you survive the term. That is why the premium is so low.
  • Cover ends at 55, which is usually well before dependants stop being dependent.
  • A lapsed auto-debit means no cover. Keep the account funded.

Frequently asked questions

How much does PMJJBY cost?
The annual premium is ₹436, revised with effect from 1 June 2022, for ₹2,00,000 of cover. It is auto-debited from your bank account once a year. Premiums under these schemes are reviewed periodically, so confirm the current figure with your bank.
Can I have PMJJBY through more than one bank?
You can only hold one policy, and the cover does not multiply. If premiums are debited from more than one account, only one policy is valid and the extra premiums are generally forfeited. Enrol through one bank only.
Does PMJJBY cover death from any cause?
Yes, subject to the scheme’s conditions including the initial waiting period that applies to non-accidental death for new enrolments. Check the current terms with your bank at enrolment.
Is ₹2 lakh enough life insurance?
For most families supporting dependants, no. It is a valuable floor at a very low cost, but it is not a substitute for adequate term cover sized to your family’s actual needs. Treat it as a supplement.

Official sources

Every figure on this page is traceable to the official source below. If a source has changed since the date shown, please tell us and we will correct it.