Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY): A Government Life Insurance Scheme
PMJJBY offers affordable life insurance cover to Indian citizens aged 18-50 years.
Source: GNews PM SchemeThe Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed life insurance scheme launched in 2015. It aims to provide financial security to the families of policyholders in case of their untimely demise. The scheme offers a life cover of Rs. 2 lakh upon the death of the insured person due to any cause. It is available to individuals aged 18 to 50 years who have a savings bank account. The annual premium for PMJJBY is Rs. 436, which is auto-debited from the subscriber's bank account. This affordable scheme helps expand social security coverage, especially for the unorganized se
- PMJJBY was launched on May 9, 2015, by Prime Minister Narendra Modi.
- It provides a life cover of Rs. 2 lakh to the nominee upon the death of the insured person due to any reason.
- The scheme is available to individuals aged between 18 and 50 years with a savings bank account.
- The annual premium for PMJJBY is Rs. 436, which is auto-debited from the subscriber's account.
- The policy is renewable annually and is offered by LIC and other private life insurance companies.
A government-backed life insurance scheme launched in 2015. It provides a life cover of Rs. 2 lakh to individuals aged 18-50 years upon death due to any cause, with an annual premium of Rs. 436. It aims to provide social security and financial protection.
Questions on PMJJBY often focus on its launch year, eligibility criteria, premium amount, and the sum assured.
PMJJBY: Jeevan Jyoti means 'Light of Life'. It gives a 'light' (small) premium for a 'light' (2 lakh) cover, ensuring life's light continues for families.