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Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) - PM Life Insurance Policy

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is the life insurance introduced by the Government of India. Life insurance policy provides financial help to the dependents and family members of the insured person after death. The insured person pays a premium to get the benefits of the life insurance policy. Life insurance companies offer life insurance policies to its customers. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is an affordable life insurance plan for Indian individuals with a savings account. Policy holders get a sum assured of up to Rs.2 lakh for a premium of Rs.330 per year.

Who can open Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)?

  • Individuals within the age group of 18 to 50 years
  • Individuals with Aadhaar card
  • People with a savings account and have provided consent for auto debit of the premium amount from the savings account.

Features and Benefits of Pradhan Mantri Jeevan Jyoti Bima Yojana

Policy Cover

The maximum policy cover of the Pradhan Mantri life insurance is Rs.2 lakh. The sum assured of the policy is paid to the nominee after the death of the policyholder.  

PMJJBY Premium

The premium amount for PM life insurance policy is Rs.330 per year for one year i.e. from 1st June to 31st May.

In 2018, Ministry of Finance has revised the premium payment structure. The PMJJBY premium will depend on the quarter that individuals have requested for the policy.   

Here is the revised structure:

Policy requested in the monthAnnual premium
June, July and AugustRs.330
September, October and NovemberRs.258
December, January and FebruaryRs.172
March, April and MayRs 86

Insurance policy period

Policyholders are covered for one year from June 1 to May 31 of next year. Even if you are enrolling for the policy after June, your cover will remain active till 31st May. After that, it will be auto-renewed on 1st June.  

Payment process:

The PMJJBY premium is debited from the savings bank account of the policyholder. In case of policy renewal, the premium amount is auto debited between May 25 and May 31.

How to Apply for Pradhan Mantri Jeevan Jyoti Bima Yojana

You can apply for PMJJBY insurance through your bank. Customers can enrol for this policy through online banking, phone banking and by visiting the nearest bank branch.  


Offline Method:

  • Interested SBI savings account holders can apply for the PMJJBY by filling up an application form.
  • Submit the consent form of auto renewal with the application form.
  • After the documents are submitted, the bank will decide whether to approve the application. After bank approves the application, the annual premium is deducted from SBI savings account.

Online Process:

  • Go to and log in with SBI netbanking credentials. 
  • Click on My Accounts sections and select social security scheme.  
  • Select Pradhan Mantri Jeevan Jyoti Bima Yojana
  • Select your SBI account that you want to add with the policy.
  • Choose your CIF number and click on ‘Submit’.
  • Fill the required details of the online form.
  • Add your nominee details such as name and relationship with the nominee and click on ‘Submit’.

Kotak Mahindra Bank

  • Through net banking

  1. Log in to Kotak Net Banking

  2. Select ‘Banking’ in the Top Menu

  3. In QuickLinks , select ‘Enroll in PMJJY and PMSBY’

  4. Select the PMJJY in Policy Name

  5. Select the savings account to be debited

  6. Click on ‘Submit’

  • Send an SMS with JYOTI <nominee name> to 5676788.
  • Visit the nearest Kotak Mahindra Bank branch to apply for the policy by submitting the PMJJBY form along with the consent letter.


If you have an HDFC Bank savings account, here’s how you can enrol for the PM Jeevan Jyoti Bima Yojana.

Through SMS

  • Eligible HDFC Savings account holders are sent an SMS by the bank.
  • Interested account holders can reply ‘PMJJBY Y’ to enrol in the policy.
  • Customers will get an acknowledgement message.
  • To process the application, bank will take the required details such as nominee name and relationship from the bank account details.

Through HDFC Net Banking

  • Log in to HDFC Net Banking with the login credentials and click on the ‘Insurance’ tab.
  • Select the scheme from the drop list.
  • Select the HDFC account for premium payment.
  • Check if the policy cover amount, premium amount and nominee details that are displayed are correct.
  • Click ‘Confirm’ to enrol in the policy.
  • Download the Acknowledgement for future reference


  • ICICI Savings account customers can enrol for the life insurance policy through Internet Banking               
  • Customers can also call ICICI Bank Customer Care and select option 5 for PM insurance schemes. Then select option 1 to enrol for PMJJBY scheme.
  • Customers can also walk into the nearest bank branch to enrol for the policy.


What is PM Jeevan Jyoti Bima Yojana?

PM Jeevan Jyoti Bima Yojana is a life insurance policy introduced by the government of India. Individuals can get a maximum life cover of Rs.2 lakh by paying a nominal premium of Rs.330 per year.

What is the full form of PMJJBY?

Pradhan Mantri Jeevan Jyoti Bima Yojana is the full form of PMJJBY.

How can I apply for Pradhan Mantri Jeevan Jyoti Bima Yojana?

You can apply for the policy through your bank account through internet banking, sending an SMS or by visiting the nearest bank branch.  

What is the age limit for PMJJBY?

The age limit for PMJJBY is 50 years. People above 50 years cannot enrol in the policy.

What is the premium amount for Pradhan Mantri Jeevan Jyoti Bima Yojana?

The premium for Pradhan Mantri Jeevan Jyoti Bima Yojana is Rs.330 per year from 1st June to 31st May.


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