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Pradhan Mantri Jeevan Jyoti Bima Yojana
Pradhan Mantri Jeevan Jyoti Bima Yojana is a life insurance scheme launched in 2015 for people
between 18 and 50 years of age with bank accounts. It provides a cover of Rs. 2 Lakh on natural
death or death by accidents (term plan insurance).
Salient features of Pradhan Mantri Jeevan Jyoti Bima Yojana
 Anybody who has an Aadhaar number with a linked bank account and falls in the age-
bracket of 18-50 years can enrol for the same.
 The annual premium for the scheme is Rs. 330 which has to be automatically debited
from the subscriber’s bank account. Anyone can either renew the scheme annually or opt
for the long-term provision in which case the amount will be automatically deducted
from the
The scheme is being implemented by Life Insurance Corporation of India and all other major
insurers in the country.
Pradhan Mantri Suraksha Bima Yojana
Pradhan Mantri Suraksha Bima Yojana is a life Insurance Scheme to provide insurance cover at
minimal annual premium for death or disability by accidents. The risk coverage of the scheme
for accidental death or full disability is Rs. 2 lakhs and for partial disability is Rs. 1 lakh.
Salient Features of Pradhan Mantri Suraksha Bima Yojana
 Anyone who falls in the age-bracket of 18-70 years can avail the benefit of this scheme
and get enrolled. He should have a bank account linked with his Aadhaar card.
 The annual premium is a meagre amount of Rs. 12. This is comparatively very reasonable
as similar insurance in private sector would have a premium of Rs. 100, as per experts.
The payments will be automatically debuted from the subscriber’s account annually.
Difference between PMJJBY and PMSBMY
The differences between the two schemes are as follows:
Pradhan Mantri Jeevan
Pradhan Mantri Suraksha Bima
Feature and Eligibility Jyoti Bima Yojana
Yojana (PMSBY)
(PMJJBY)
Accidental
Insurance cover offered for Death due to any reason
death/disability/accidental injury
Age at entry 18-70 years 18-50 years
Sum Assured 200000 200000
Premium (Annual) Rs. 12 Rs. 330
Cover ceasing age 70 55
Maturity Benefit Nil Nil
Death Benefit (Not by
Nil 200000
accident)
Death Benefit (by accident) 200000 200000
Disability of both eye, both
hands, both legs or one eye 200000 Nil
and one limb
Disability of one eye or one
100000 Nil
limb

Pradhan Mantri Suraksha Bima
Feature and Eligibility
Yojana (PMSBY)
200000 (From any one of Bank
Maximum cover
account)
1st June to 31 May every year on
Risk Period
deduction of premium
Mode of Payment Auto debit from bank account
Pradhan Mantri Jeevan
Jyoti Bima Yojana
(PMJJBY)
200000 (From any one of
Bank account)
1st June to 31 May every
year on deduction of
premium
Auto debit from bank
account