PMJJBY – Eligibility, Premium, Insurance Cover, Benefits – How to enroll ?

How to enroll for PMJJBY - eligibility, insurance cover, benefits
How to enroll for PMJJBY - eligibility, insurance cover, benefits

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a Government backed scheme with one year life insurance cover, renewable from year to year, offering life coverage for death due to any reason. PMJJBY is a purely term life insurance scheme that provide insurance coverage on the death of the subscriber or policy holder. Here in this article, let us know how to enroll for Pradhan Mantri Jeevan Jyoti Bima Yojana Scheme and claim settlement under PMJJBY ?

Eligibility for PMJJBY

The scheme is available to people in the age group of 18-50 years (life cover up to age 55) having a saving bank account who give their consent to join and auto debit the premium.

Enrolment Period

The scheme is available for enrolment from 1st June of every year to 31st may of succeeding year. You can enroll anytime during this period by paying off the full annual premium amount. However, it is advisable to enroll for the scheme in starting of the policy period to get risk coverage for 12 months.

PMJJBY Eligibility, Premium, Insurance Cover, Period
PMJJBY Eligibility, Premium, Insurance Cover, Period

PMJJBY Premium Amount

A Premium of Rs. 330/- per annum per member is debited every year on or before 31st may from the bank account on the consent to auto debit by subscriber.

Delayed enrollment for prospective cover after 31st May will be possible with full payment of annual premium and submission of a self-certificate of good health.

Premium Appropriation

  • Premium to Insurance Company – Rs. 289/- per annum per member
  • Reimbursement of expenses to BC/ Micro/Corporate/ agents – Rs. 30/- per annum per member
  • Reimbursement of expenses to participating bank – Rs. 11/- per annum per member

PMJJBY Insurance Coverage

Under PMJJBY Scheme, life cover of Rs. 2 Lakh is payable to the nominee on death of the policy holder.

Maturity Benefit

NIL. As It is purely a term insurance scheme with no investment component.

Who offer /administer the scheme ?

The scheme is offered / administered through LIC and other Indian private Life Insurance companies. For enrolment banks have tied up with insurance companies. Participating Bank is the master policy holder.

Also ReadHow to claim insurance under Pradhan Mantri Jeevan Jyoti Bima Yojana ?

How to enroll for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) Scheme ?

Enrollment Process for PMJJBY is very simple and easy. To enroll, you must have a savings bank account.  Follow these steps :

Step 1 : Download the “Application Form for enrollment under PMJJBY” – Click here

Step 2 : Fill up requisite details like – Name, Aadhaar Number, Bank Account Details, Nominee Name etc.

Step 3 : Submit it along with KYC document (Aadhaar card) to your bank branch.

Note :

The Risk will not be covered during the first 45 days from the date of enrollment into the scheme. In case of death (other than accident) during this period, no claim will be admissible.

Termination of Assurance

The assurance on the life of the member shall terminate on any of the following events and no benefit will become payable there under

  • On attaining age 55 years (age near birth day) subject to annual renewal up to that date (entry, however, will not be possible beyond the age of 50 years).
  • Closure of account with the Bank or insufficient balance to keep the insurance in force.
  • A person can join PMJJBY with one Insurance company with one bank account only.

A person who exit the scheme at any point may re enroll the scheme in future years by paying the annual premium and submitting a self declaration of good health.

Claim Settlement under PMJJBY

In case of claim, the nominee or legal heirs of the policy holder have to contact respective bank branch where the insured person was having bank account and enrolled for scheme. A death certificate and simple claim form is required to submit and the claim amount will be transferred to the nominees account.


  1. Hi
    How do the company settle the claim if i have taken more than 1 policy.

    Suppose i have 2 different policy from different banks, will my nominee get claims from both the banks?

  2. Hi customer enrolled PMJJBY policy on may 2016 and renewed on 31/5/2017 now the customer disease on 11/4/2018 but by mistake the policy is deactivated on 17/4/2018…can we claim the policy amount now


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