Loading page...
Loading page...
Calculate your total premium and coverage under Pradhan Mantri Jeevan Jyoti Bima Yojana. Check eligibility and compare costs with term insurance plans.
Eligible for PMJJBY
You can enroll until age 50. Policy coverage continues until age 55.
Annual Premium
₹330
Life Coverage
₹2,00,000
Total Premium (till 55)
₹8,250
Over 25 years
Cost per Lakh
₹165
Annual cost per ₹1L cover
PMJJBY is approximately 1x cheaper than a comparable term plan for the same coverage amount.
| Entry Age | Years Till 55 | Total Premium | Coverage | Cost/Lakh |
|---|---|---|---|---|
| 25 Yrs | 30 | ₹9,900 | ₹2,00,000 | ₹165 |
| 30 Yrs | 25 | ₹8,250 | ₹2,00,000 | ₹165 |
| 35 Yrs | 20 | ₹6,600 | ₹2,00,000 | ₹165 |
| 40 Yrs | 15 | ₹4,950 | ₹2,00,000 | ₹165 |
| 45 Yrs | 10 | ₹3,300 | ₹2,00,000 | ₹165 |
| 50 Yrs | 5 | ₹1,650 | ₹2,00,000 | ₹165 |
Age 18 - 50 Years
Any Indian resident in this age group can enroll.
Bank Account Required
Must have a savings bank account for auto-debit.
Auto-Renewal
Premium is auto-debited every year from your bank account.
Death Coverage
₹2,00,000 is paid to the nominee on death due to any reason.
No Maturity Benefit
Pure risk cover. No amount is returned if the policyholder survives.
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed life insurance scheme launched in 2015. It provides affordable life cover of ₹2 lakh for a nominal annual premium of ₹330. The scheme is available to all Indian residents aged 18-50 years with a bank account.
The premium is auto-debited from the linked bank account every year. In case of death due to any reason, the nominee receives ₹2,00,000. The risk coverage continues until the subscriber reaches 55 years of age.
At just ₹330 per year, PMJJBY is one of the cheapest life insurance options available. This works out to less than ₹1 per day for ₹2 lakh coverage.
No medical examination required. Enrollment is done through your bank by filling a simple consent form. Auto-debit ensures you never miss a renewal.
Covers death due to any reason — natural, accidental, or illness. There is no restriction on cause of death, unlike some accident-only policies.
The scheme is administered by public sector insurance companies with backing from the Government of India, ensuring reliability and claim settlement.
PMJJBY offers excellent value for low-income individuals who need basic life cover. However, the coverage is fixed at ₹2 lakh, which may be insufficient for families with higher liabilities or living expenses. A term insurance plan allows you to choose a higher sum assured (₹10 lakh to ₹1 crore+) based on your needs.
For comprehensive protection, consider PMJJBY as a base cover and supplement it with a term insurance plan for the remaining coverage gap. This strategy ensures maximum cost-efficiency while maintaining adequate financial protection for your family.
Yes. PMJJBY and term insurance are independent. You can claim from both policies in case of death. There is no restriction on holding multiple life insurance policies.
If the auto-debit fails due to insufficient balance, the policy lapses. You can rejoin the scheme in subsequent years by paying the annual premium and submitting a fresh declaration form.
The premium is reviewed annually by the government. While it has remained ₹330 since launch, it may be revised based on claim experience. Any change is notified before the renewal date.
No. PMJJBY is only for Indian residents. The subscriber must have a savings bank account in India and the risk coverage is valid only within India.