Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

In simple words

A one-year renewable life insurance cover for bank or post office account holders aged 18 to 50.

What you may get

Rs 2 lakh is payable on death from any cause. The premium is Rs 436 a year, auto-debited from the account.

Who it is for

Bank or post office account holders aged 18 to 50 years may join.

Main eligibility conditions

• Cover runs from 1 June to 31 May and is renewable each year.
• Part-year premium: Rs 342 (Sep-Nov), Rs 228 (Dec-Feb), Rs 114 (Mar-May).

Conditions we could not check

• Needs an active bank or post office account with enough balance for auto-debit.
• Only one enrolment per person across all accounts.
• There is a 30-day waiting period for non-accidental death after enrolment.
• Cover ends at age 55.

Who may not qualify

• No cover for death other than by accident in the first 30 days after enrolment.

Documents you may need

We could not confirm a document list. Check the official source.

How to apply

1. Go to your bank or post office where you hold the account.
2. Fill the enrolment form and give consent for auto-debit.
3. Keep enough balance in the account for the yearly premium.

Where to go

Bank or post office branch where you hold the account

What to take

• Bank or post office account details

What to do there

1. Ask for the PMJJBY enrolment form.
2. Give consent for auto-debit of the premium.

Application fee

Rs 436 a year, auto-debited from the account.

Application dates

• Current deadline could not be confirmed. Check the official source.