About this scheme
Pradhan Mantri Jeevan Jyoti Bima Yojana — term life insurance. Annual premium Rs. 436. Cover: Rs. 2 lakh on death (any cause). Auto-debited from bank account.
What you get
- Rs. 2 lakh cover on death from any cause
- Annual premium Rs. 436 (auto-debit)
- Tax deduction under Section 80C
- 45-day waiting period (post-enrollment)
- Covers any Indian resident 18-50
- No medical exam required
Who qualifies
All Indian residents aged 18-50 with a savings bank account. Cover continues until age 55 if enrolled before 50. Self-declaration of good health required at enrollment.
All industries qualify (no NIC restriction).
Business types
Proprietorships
Available across India (central scheme).
How to apply
- 1Approach your bank
- 2Submit self-declaration of good health
- 3Auto-debit consent for annual premium
- 445-day waiting period after enrollment
- 5Annual auto-renewal until age 55
- 6Claim filed via bank by nominee
Key terms and conditions
- Self-declaration of good health required
- 45-day waiting period for non-accident death
- Single account per individual
What disqualifies you
- Above 50 at enrollment: not eligible
- Death within 45 days (non-accident): not covered
- Suicide in 1st year: 75% returned, no claim
Documents typically required
- Bank account
- Aadhaar-linked bank
- Auto-debit consent
- Self-declaration of good health
The content above is compiled from public information published by the scheme authority. Eligibility, benefits, and procedures are subject to change. Confirm details directly with the official portal before applying. BharatSeal does not process scheme applications.