PM Jeevan Jyoti Bima Yojana 2025 (PMJJBY): The Pradhan Mantri Jeevan Jyoti Bima Yojana is a special scheme launched by the Central Government with IRDA. Through PMJJBY scheme, insurance coverage is being provided to the middle class and lower income people of the country. As we all know, there is a lack of awareness in the country about insurance even today, due to which people of the country’s middle income and lower income groups still hesitate to buy insurance schemes. The main objective of starting this scheme is to provide insurance protection to these disadvantaged sections, so that after the death of the bread earner from these families, the family members can get financial security.
As we said, insurance security is provided to people of low income and middle income group through प्रधानमंत्री जीवन ज्योति बीमा योजना. Under this scheme, insurance holders are provided up to ₹ 200000 at minimum premium. In this scheme, the insurance premium amount has been fixed between ₹ 330 and 436 where the candidate is provided with benefits like Death Benefit and Accident Benefit.
What is The purpose of Pradhan Mantri Jeevan Jyoti Bima Yojana?
The Pradhan Mantri Jeevan Jyoti Bima Yojana is a specific scheme launched jointly by the Central Government and Insurance Regulatory Development Authority of India. Through this scheme, insurance cover is provided to a family who do not consider it appropriate to take insurance for themselves.
Under this scheme, middle and lower income groups are made aware of insurance schemes and they are provided insurance facilities on a minimum premium amount, so that if the insurance holder bread earner of the family dies under any circumstances, his family does not have to depend on anyone else for daily expenses nor the family will not be affected by financial crisis. Through this scheme, the government is providing life insurance cover to citizens from 18 to 50 years so that financial security can be provided to the families of the insured persons.
Characteristics of Pradhan Mantri Jeevan Jyoti Bima Yojana
In the Pradhan Mantri Jeevan Jyoti Bima Yojana, insurance cover is being provided to people of low income and middle income groups. The scheme has been determined by the minimum premium ₹ 330 where the candidate can get a cover of up to Rs 2 lakh. Under this insurance scheme, the policyholder is provided with life insurance cover and accidental tax. The benefits received in this insurance scheme are also given with income tax exemption. The date for enrollment in this insurance scheme has been set from 1 June to 31 July.
Under this scheme, the candidate can pay the insurance scheme to the auto debit by linking the insurance scheme to his bank account account. In this insurance scheme, claiming and receiving the claim amount has now been linked to the digital process.
Benefits of Pradhan Mantri Jeevan Jyoti Bima Yojana
Under Pradhan Mantri Jeevan Jyoti Yojana, the insured gets a date benefit and accidental benefit of up to ₹ 200000. This is a Term Life insurance in which maturity is not available. Insurance is being provided at minimum premium under Pradhan Mantri Jeevan Jyoti Bima Yojana where income tax exemption is also available on premium amount and death benefit. Under the Pradhan Mantri Jeevan Jyoti Bima Yojana, every year the insured person has to renew the scheme, and after renewal the person is provided all the risk coverage for a year.
What are the Coverage and Benefits?
Life Insurance: A sum of ₹2 lakhs will be disbursed to the designated nominee in the event of the policyholder’s death, regardless of the cause. This policy encompasses fatalities resulting from all causes, including but not limited to natural disasters, accidents, and suicide.
Policy Duration: The coverage is valid for one year and can be renewed on an annual basis.
Premium Payment: An annual premium of ₹436 will be automatically deducted from the policyholder’s savings bank account in a single transaction.
Renewal Process: The policy can be renewed each year by providing consent for auto-debit prior to May 31st. Participating banks act as master policyholders, overseeing the administration of the scheme in collaboration with insurance providers.
Prime Minister Jeevan Jyoti Bima Yojana Eligibility Criteria
The minimum age of the applicant has been fixed at 18 years and maximum age of 50 years for applying under the Pradhan Mantri Jeevan Bima Jyoti Bima Yojana. Only residents of India are being included in this scheme. In this scheme, the applicant must have a bank account so that the auto debit facility can be activated. The person taking advantage of this scheme is required to have an Aadhaar card, Aadhaar card -linked mobile number and bank account. The person taking advantage of the scheme must have a medical certificate. At the same time, during the renewal every year, the candidate has to submit a medical fitness certificate.
Important facts of Pradhan Mantri Jeevan Jyoti Bima Yojana
In the Pradhan Mantri Jeevan Jyoti Bima Yojana, the policyholder is given a period of thinking (cooling period) for 45 days after taking the policy so that the candidate can determine whether he has to move forward or not. Plan coverage starts after 45 days in this scheme. In such a situation, if the insured person dies accidentally, then coverage of the insurance amount is provided to him.
The Pradhan Mantri Jeevan Jyoti Bima Yojana is linked to the savings account of the candidate, in such a situation, if the savings account is closed for some reason, then the policy is also considered to be terminated. In this scheme, only one person is allowed to expect a policy from a family. In the same plan, the auto debit is deducted by the last week of the premium amount.
Enrolment Process For The PM Jeevan Jyoti Bima Yojana 2025
- Start by visiting your local branch with your Aadhaar card.
- Complete the PM Jeevan Jyoti Bima Yojana 2025 application form, ensuring that you provide accurate personal information and nominee details.
- Authorize the auto-debit of the premium from your savings bank account.
- You will receive a policy document or certificate, which serves as confirmation of your enrolment, in the form of an “ACKNOWLEDGEMENT SLIP CUM CERTIFICATE OF INSURANCE.”
The premium amount for enrolment differs depending on the month. If you enroll in June, July, or August, then the full annual premium of Rs. 436/- is required. For enrolments in September, October, or November, the pro-rata premium is Rs. 342/-. If you enroll in December, January, or February, the pro-rata premium is Rs. 228/-. Lastly, for enrolments in March, April, or May, the pro-rata premium is Rs. 114/-. When renewing under the scheme, the full annual premium of Rs. 436/- must be paid.
Application Process – How to Apply for PMJJBY 2025
You can apply for PMJJBY via both offline and online methods:
Offline Method:
Visit your nearest bank branch (public or private). Ask for the PMJJBY application form. Fill in your personal, nominee, and bank details. Attach Aadhaar card, age proof, and photograph and Submit the form and sign the auto-debit consent.
Online Method (if supported by your bank):
Submit and download the policy receipt.
- Log in to your bank of India or mobile app.
- Search for “PMJJBY” under insurance section.
- Select the account and provide nominee information.
- Confirm the auto-debit of ₹436 premium.
What will be the claim process?
- To initiate the PM Jeevan Jyoti Bima Yojana 2025 claim process, the first step is to notify the bank or post office about the policyholder’s passing.
- Following this, it is necessary to provide several important documents, which include the death certificate of the insured, a completed claim form that can be obtained from the bank or post office, the original policy document or certificate, proof of identity for the nominee, and the nominee’s bank account information.
- Once the documents are submitted, the bank or post office will carry out a verification process to ensure everything is in order before forwarding the claim to the insurance company, such as LIC or another participating insurer.
- After the claim is approved, the amount of ₹2 lakhs will be directly transferred to the bank account of the nominee.
w many accounts have been opened under the PM Jeevan Jyoti Bima Yojana 2025?
As of now, 53.13 crore accounts have been established under the Pradhan Mantri Jan Dhan Yojana. Among these, 55.6% of the account holders are women, and 66.6% of the accounts are located in rural and semi-urban regions.
This PM Jeevan Jyoti Bima Yojana 2025 has significantly contributed to integrating economically disadvantaged groups into the banking system. The total amount deposited in Jan Dhan accounts stands at Rs 2,31,236 crore. By August 15, 2024, there has been a 3.6-fold increase in the number of accounts and a 15-fold rise in deposits.
What impact have these schemes had on financial inclusion in the country?
The effective execution of these initiatives has bolstered financial inclusion and security across the nation. Prime Minister Narendra Modi’s schemes are designed to empower the impoverished and marginalized communities. The Finance Ministry reports that these programs are reaching all segments of society and are enhancing financial literacy.
New updates on PM Jeevan Jyoti Bima Yojana 2025
Earlier this month, the Ministry of Finance announced on X that the scheme has offered ₹2 lakh life insurance coverage to over 21 crore beneficiaries throughout India. According to official statistics, as of October 20, 2024, the total enrollment in the scheme reached 21.67 crore, with a total of 860,575 claims submitted, amounting to ₹17,211.50 crore.
What are the exclusions in the insurance policy?
Suicide is not covered if it occurs within 12 months of enrollment. Additionally, deaths resulting from pre-existing conditions are not covered during the first 45 days of the risk cover period, known as the lien period.
How is the premium allocated?
Out of the total premium of ₹436, ₹395 is allocated to the insurance company, ₹30 is designated for agents involved in new enrollments, and ₹11 is used for administrative costs.
When does the insurance coverage end?
Coverage will cease under the following conditions: when the insured reaches 55 years of age, if the linked bank account is closed, or if there are insufficient funds to maintain the policy. Furthermore, if an individual holds multiple PM Jeevan Jyoti Bima Yojana accounts, the insurance coverage will be limited to ₹2 lakhs, and any additional premiums may be forfeited.
Conclusion: PM Jeevan Jyoti Bima Yojana 2025
In this way People with the lower or middle income groups who want to get the benefit of the insurance scheme can get tax exemption by investing in Pradhan Mantri Jeevan Jyoti Bima Yojana today and can also get the benefit of insurance.
FAQs about PM Jeevan Jyoti Bima Yojana 2025
Who is eligible for the PMJJBY?
Anyone aged 18–50 years with a savings bank account and Aadhaar card.
What is the coverage amount under PMJJBY 2025?
₹2 lakh in case of death due to any reason (natural or accidental).
How much is the annual premium?
₹436 per year, auto-debited from the linked savings account.
Can I buy PMJJBY for my parents?
Yes, if they are below 50 years of age and have a bank account.
Is there any waiting period?
Yes, 45 days waiting for natural death claims. No waiting for accidental deaths.
Can the policy be renewed automatically?
Yes. If sufficient balance is available, the policy will be renewed every year automatically.
