Government Schemes
PMJJBY and PMSBY — Rs.456/year for Rs.4 lakh protection
📅 Updated May 2026
⏱ 5 minute read
✍️ InsureIQ · Not an IRDAI advisor
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PMJJBY + PMSBY together cost Rs.456/year and give your family Rs.4 lakh in protection. Most eligible Indians are not enrolled. Enrolment takes 10 minutes at your bank. This guide shows you exactly how.
What these two schemes actually are
PMJJBY
Pradhan Mantri Jeevan Jyoti Bima Yojana
Rs.436
per year · auto-debited June 1
Rs.2 lakh paid to your family if you die — from any cause. Accident, illness, or natural causes. Age 18–50 to enrol. Cover continues till 55.
PMSBY
Pradhan Mantri Suraksha Bima Yojana
Rs.20
per year · auto-debited June 1
Rs.2 lakh if you die in an accident. Rs.1 lakh if you are permanently disabled. Age 18–70 to enrol.
No agent earns commission from these schemes. That is the single biggest reason most people have never heard of them — there is nobody incentivised to sell them to you.
InsureIQ tells every user about these schemes before anything else — because Rs.456/year for Rs.4 lakh of protection is the best value insurance available in India today.
Who qualifies
✓
Indian citizen — both schemes are for Indian residents only
✓
Age 18–50 for PMJJBY — you must be under 50 to enrol. Cover continues until 55.
✓
Age 18–70 for PMSBY — accident cover available to a wider age group
✓
Savings bank or post office account — must be active with sufficient balance for auto-debit
✓
Aadhaar linked to bank account — required for most banks' online enrolment
✓ No medical test required. You do not need to be healthy or pass any examination. Both schemes accept all eligible applicants regardless of health condition.
How to enrol — online (fastest)
Most major banks allow enrolment through net banking or mobile app in under 10 minutes.
SBI (State Bank of India)
1. Log in to SBI YONO app or onlinesbi.com
2. Go to e-Services → Insurance
3. Select PMJJBY or PMSBY
4. Choose your account for auto-debit
5. Confirm — SMS confirmation received immediately
HDFC Bank
1. Log in to HDFC NetBanking or mobile app
2. Go to Insurance → Government Schemes
3. Select PMJJBY / PMSBY
4. Choose account and confirm auto-debit
5. Download confirmation PDF
ICICI Bank
1. Log in to iMobile Pay or ICICI Net Banking
2. Go to Insurance → PM Insurance Schemes
3. Select PMJJBY (Option 1) or PMSBY
4. Confirm the account for auto-debit
5. Confirmation SMS sent to registered mobile
Axis Bank / Kotak / Other banks
1. Log in to your bank's mobile app or net banking
2. Search for "PMJJBY" or "Government Insurance" in the menu
3. Follow the on-screen steps — process is similar across all banks
4. If not available online — visit your nearest branch. Takes 15 minutes offline.
How to enrol — offline (at bank branch)
1
Visit your bank branch — any branch where you have a savings account
2
Ask for the PMJJBY/PMSBY consent form — or download from jansuraksha.gov.in
3
Fill and sign the form — include your Aadhaar number and nominee details
4
Submit to the bank officer — they will give you an acknowledgement slip. This is your proof of enrolment.
5
Keep the acknowledgement slip safe — your family will need the policy number when filing a claim
The renewal trap — most important thing to know
Both schemes auto-renew on June 1 every year. The premium is auto-debited from your bank account.
If your account has insufficient balance on June 1 — your cover lapses silently. No SMS warning. No notification. You only find out when a claim is rejected.
⚡ Set a reminder every May: Check that your bank account has at least Rs.456 available before June 1. This one step ensures uninterrupted cover every year.
What happens when a claim is filed
When you die (God forbid), your nominee must file the claim.
1
Nominee contacts the bank where the policy was enrolled
2
Documents required: Death certificate, original claim form, nominee's Aadhaar, cancelled cheque of nominee's bank account
3
Bank processes the claim with the insurance company. Settlement typically within 30 days.
4
Rs.2 lakh credited to nominee's bank account
Critical: Tell your family you are enrolled. Tell your nominee exactly which bank the policy is linked to. This information saves weeks of confusion during a crisis.
Frequently asked questions
Can I enrol in both PMJJBY and PMSBY at the same time? +
Yes. Enrol in both at the same sitting. Together they cost Rs.456/year. PMJJBY covers death from any cause. PMSBY covers accidents specifically. They complement each other.
I have multiple bank accounts. Can I enrol from all of them? +
No. You can only hold one PMJJBY policy per person. If you enrol from multiple accounts, only one policy is valid and you will not receive double the claim. Enrol from your primary bank account.
What if the claim is rejected? +
First escalate to the bank's grievance officer. If unresolved, file a complaint at pgportal.gov.in or call 1800-180-1111. The Insurance Ombudsman handles PMJJBY disputes — file at cioins.co.in. Claims are legally required to be processed within 30 days.
My employer already provides insurance. Do I still need PMJJBY? +
Yes. Your employer insurance stops when you leave the job. PMJJBY is yours — it stays as long as you keep renewing it. For Rs.436/year, having both makes complete sense.
Is there a 30-day waiting period for PMJJBY? +
Yes, for first-time enrolees. Death due to accident is covered from day one. Death due to illness or other causes is covered after 30 days from enrolment. This lien period does not apply on renewal.
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