Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is an insurance scheme launched to include unorganized sectors who don't have access to insurance cover by paying very minimum premium.

Overview

  1. PMJJBY is a life insurance scheme with a life cover of Rs.2 lakh at a premium of Rs.330 per annum per member and is renewable every year.
  2. Policy Period : Period of insurance is annual, Coverage will be auto renewed during end of May every year.
  3. Premium : The premium is Rs.330 per annum which will be auto-debited in one installment from the subscriber's bank account as per the option given by him/her on or before 31st May of each annual coverage period under this scheme.