Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), a scheme that provides a life cover of Rs.2 lakh.

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a life insurance scheme introduced in 2015. It was initially ‘Aam Aadmi Bina Yojana’ (AABY) scheme since 2012 till 2015 and was converged to the PMJJBY and Pradhan Mantri Suraksha Bima Yojana (PMSBY) scheme in 2017.

The scheme is being offered by Life Insurance Corporation (LIC) and all other life insurers who are willing to offer the product on similar terms with necessary approvals and tie up with banks/post office for this purpose. Participating banks will be free to engage any such life insurance company for implementing the scheme for their subscribers.

What does the scheme offer?

The PMJJBY scheme offers life insurance cover for death due to any reason. The life cover of Rs. 2 lakhs shall be for the one year period stretching from 1st June to 31st May and is renewable. The premium is Rs. 436 per annum which is to be auto-debited in one installment from the subscriber’s bank account as per the option given by him on or before 31st May of each annual coverage period under the scheme.

For those enrolling during the middle of the policy period, payment of pro-rata premium is as below;

Delayed enrollment with payment of full annual premium for prospective cover may be possible with submission of a self- certificate of good health. Individuals who exit the scheme at any point may re-join the scheme in future years by submitting a declaration of good health in the prescribed proforma.


1.The PMJJBY scheme is available to people in the age group of 18 to 50 years.

2.The applicants should have a bank / post office account and give their consent to join / enable auto-debit.

Documents Required

Aadhar would be the primary KYC for the bank account.

Either of AADHAAR card or Electoral Photo Identity Card (EPIC) or MGNREGA card or Driving License or PAN card or Passport is required.

How to Apply?

The application form is to be downloaded and printed from, filled, signed and submit to the authorised official of Bank / Post Office along with the self attested copies of required documents. The official will return “Acknowledgment Slip cum Certificate of Insurance”.

Termination of assurance

The assurance on the life of the member shall be terminated on any of the following events.

1. On attaining age 55 years (entry is not possible beyond the age of 50 years).

2. Closure of registered bank account

3. Insufficient balance in bank account to renew the scheme.

(In this case, it can be reinstated on receipt of full annual premium and a satisfactory statement of good health).

4. In case a member is covered through more than one account, only one premium will be considered.


The AABY scheme has paid around Rs.700 crore from 2012-2015.

As on 26.04.2023, the cumulative enrolments under PMJJBY scheme have been more than 16.19 crore and an amount of Rs. 13,290.40 crore has been paid for 6,64,520 claims. The scheme was claimed by many during Covid times as well.




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