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Pradhan Mantri Jeevan Jyoti Yojana

Name of the scheme: Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

Purpose: The main purpose of the insurance scheme is to provide life insurance coverage for death due to any reason.

Eligibility Conditions:

  • The savings bank account holders of the participating banks aged between 18 years (completed) and 50 years (age nearer birthday) who give their consent to join, will be enrolled into the scheme.
  • Individuals who join after the initial enrolment period extending up to 31st August 2015 or 30th November 2015, as the case may be, will be required to give a self-certification of good health and that he/she does not suffer from any of the critical illnesses as mentioned in the applicable Consent cum Declaration form as on date of enrolment or earlier.

Scope of coverage:

  • All savings bank account holders in the age 18 to 50 years in participating banks will be entitled to join.
  • In case of multiple saving bank accounts held by an individual in one or different banks, the person would be eligible to join the scheme through one savings bank account only.
  • Aadhar would be the primary KYC for the bank account


SL No Category Benefits
1 Death Rs. 2 lakh
2 Total/irrecoverable loss of both eyes/loss of use of both hands/feet. Rs. 2 lakh
3 Total or irrecoverable loss of sight of one eye loss of use of one hand or foot Rs. 1 lakh


  • Rs. 330/- per annum per member.
  • The premium will be deducted from the account holder’s savings bank account through ‘auto debit’ facility in one instalment, as per the option given, on or before 31st May of each annual coverage period under the scheme.

Nodal agency:

  • The scheme will be offered / administered by the Life Insurance Corporation (LIC) and other life insurance companies like SBI, ICICI etc. through their tie ups with the interested banks like SBI, ICICI, Canara Bank etc.
  • Participating banks are free to engage any such life insurance company for implementing this scheme for their subscribers.

Service Tax Exemption:

The scheme will be exempted from service tax so there will be no payable service tax on the premium.

How to apply?

Application form has been attached here

For more details regarding the scheme, click here

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