Scheme Overview

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a centrally administered life‑insurance product launched by the Government of India. The scheme offers a fixed sum assured of Rs. 2 lakh in the event of the insured’s death due to any cause during the policy year. The cover is renewable annually provided the subscriber continues to meet the eligibility criteria and the premium is paid.

Premium and Payment

The annual premium is Rs. 436, which is auto‑debited from the subscriber’s savings bank account on or before 31 January each year. No medical examination is required.

Renewal and Claim Settlement

Renewal is automatic if the premium is successfully debited. In the event of death, the claim amount is transferred directly to the nominee’s bank account within 30 days of receipt of required documents.

1. Submit the consent form at the branch of the bank where the savings account is held or complete the online enrolment through the bank’s net‑banking portal.
2. Ensure the bank has your correct mobile number and email for OTP verification.
3. The premium of Rs. 436 will be auto‑debited on or before 31 January each year.
4. Upon successful debit, you will receive an SMS confirmation and the policy becomes active for the year.