About the Scheme
PMJJBY is a renewable life insurance scheme offering ₹2 lakh coverage on death from any cause at just ₹436/year premium. Launched June 1, 2015. 23.63 crore cumulative enrollments (Apr 2025). ₹18,398 crore paid in claims for 9.19 lakh deaths. Available to bank account holders aged 18-50.
Target Beneficiaries: 23.63 crore cumulative enrollments (Apr 2025); ₹18,397.92 crore paid for 9.19 lakh claims; 53% women; 74% rural beneficiaries
Key Features
- ₹2 lakh life insurance coverage on death from any cause (natural, accidental, homicide)
- Annual premium: ₹436/year only (auto-debited from bank account every June 1)
- 23.63 crore cumulative enrollments (Apr 2025); 53% women beneficiaries; 74% from rural areas
- ₹18,397.92 crore paid in 9.22 lakh claims by Apr 2025
- Eligibility: 18-50 years; bank/post office account; renewed annually
- Part of Jan Suraksha trinity: PMJJBY (life) + PMSBY (accident) + APY (pension)
- Launched 9 May 2015 by PM Modi simultaneously with PMSBY and APY