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Pradhan Mantri Jeevan Jyoti Bima Yojana: Ensuring an Insured Life for Every Indian

Financial inclusion, the delivery of financial services at affordable costs to vast sections of disadvantaged and low-income groups. In the recent time, financial inclusion has been the buzzword due to its remarkable merits that favour the comprehensive development of India.

It promises significant benefits, especially for the rural economy, which will witness a revolution in the availability of financial instruments primarily due to the Pradhan Mantri Jan Dhan Yojana launched by the Hon’ble Prime Minister Narendra Modi on 28th September, 2014.

The  Government reckons it as their responsibility and a viable social proposition today which provides the poor with opportunities to build savings, make enforcements and earn credit. The scheme is a game changer in the field of financial inclusion in India. It has created a platform for inculcating the habit to save money among the lower income category which will enable them to enjoy efficient banking services.

Jan-Dhan se Jan Suraksha

For many years, majority of people in India lived without any form of health, accidental, or life insurance. Taking the financial inclusion benefits to an advanced level, the Union Government in the Budget 2015-16 proposed social security schemes like Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana.

These schemes are based on Jan-Dhan Yojana platform to protect citizens at the time of illness, and accidents.

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

In order to provide benefit in the form of financial assistance to the people in case of death (by any cause including suicide and murder), Pradhan Mantri Jeevan Jyoti Bima Yojana provides a Risk coverage of Rs.2 lakh to the subscribers.

  • People in the age group of 18 to 50 years having an active bank account are eligible for the PMJJBY.
  • Those who subscribe to this scheme after attaining the age of 50 years, will continue to have the Risk of life cover up to the age of 55 years.
  • Annual premium to be paid for this scheme is Rs.330, with a risk coverage of Rs.2 lakh.
  • Similar to PMSBY, the premium will be auto-debited, directly by the bank from the subscriber’s account.

Measuring Success

There are millions of people who have been insured under the Pradhan Mantri Suraksha Bima Yojana has garnered phenomenal success.

Performance Report of Pradhan Mantri Jeevan Jyoti Beema Yojana:


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