Premium Factors, Plan Types and 2026 Rules
PMJJBY and PMSBY explained: ₹2 lakh government life and accident cover
How PMJJBY life cover and PMSBY accident cover work in 2026, who can join, premiums, the lien period, how to claim, and how they fit with a term plan.
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) gives ₹2 lakh of life cover on death from any cause for people aged 18 to 50 who hold a savings bank or post office account, with cover continuing up to age 55 if renewed. The premium, revised in 2022, is ₹436 a year, auto-debited from your account. Pradhan Mantri Suraksha Bima Yojana (PMSBY) gives ₹2 lakh for accidental death or total permanent disability and ₹1 lakh for partial permanent disability for ages 18 to 70, for ₹20 a year. Both run on a yearly cover period from 1 June to 31 May. They are useful and cheap layers of cover, but ₹2 lakh is small compared with what most families need, so treat them as an addition to a term plan, not a replacement.
This guide belongs to the overview of life insurance in India. Scheme amounts and rules can change by government notification; confirm current details on the Jan Suraksha portal or with your bank.
The two schemes side by side
| PMJJBY | PMSBY | |
|---|---|---|
| Type | Life insurance (death from any cause) | Accident insurance |
| Who can join | Account holders aged 18–50 | Account holders aged 18–70 |
| Cover | ₹2 lakh on death | ₹2 lakh on accidental death or total permanent disability; ₹1 lakh on partial permanent disability as defined |
| Yearly premium | ₹436 | ₹20 |
| Cover period | 1 June to 31 May | 1 June to 31 May |
| Medical test | None; a declaration of good health | None |
| Provided by | Life insurers tied up with banks and post offices | General insurers tied up with banks and post offices |
| Payment | Auto-debit from one account | Auto-debit from one account |
You can be covered under each scheme through only one account. Enrolling through two banks does not double the cover.
The lien period in PMJJBY
For new enrolments, PMJJBY has a lien period of 30 days from enrolment during which death claims are not paid except for death due to an accident. The idea is to prevent people joining only when death is imminent. If you are enrolling for the first time, do it while you are healthy, not when you need it. Renewals that continue without a break do not face a fresh lien period.
If you enrol part-way through the year, a reduced premium applies for the remaining months, set by the scheme rules. Your bank will show the amount when you enrol.
How cheap is it? A worked comparison
PMJJBY: ₹436 for ₹2 lakh is ₹2.18 per ₹1,000 of cover per year (436 ÷ 200).
Illustrative term plan for a healthy 30-year-old non-smoker: if ₹1 crore costs around ₹15,000 a year, that is ₹1.50 per ₹1,000 of cover (15,000 ÷ 10,000).
So for a young, healthy person, a term plan can buy cover at a similar or lower rate per rupee, and in far larger amounts. PMJJBY's advantages are elsewhere: the same premium at every age up to 50, no medical tests, no income proof, and simple enrolment through the bank. For someone aged 45 with a health condition, or with no documented income, it can be the easiest cover to get.
Who should enrol
- Anyone with no life cover at all: ₹436 is a small price for ₹2 lakh.
- Homemakers and family members without income documents, who may find term cover hard to buy.
- Workers in physical or high-risk jobs for PMSBY, which costs ₹20.
- People with a term plan who want a small extra layer: there is no rule against holding both.
Do not count the ₹2 lakh as your core protection. If your family's annual expenses are ₹5 lakh, the PMJJBY payout covers under five months.
How to enrol and how to stop
- Enrol through your bank branch, internet or mobile banking, or the post office, using the scheme form. Your nominee is recorded at enrolment.
- Give consent for auto-debit. The premium is debited each year around the end of May for the following cover year.
- Keep enough balance in the account at renewal time. If the debit fails, cover lapses for that year, and re-joining can bring a new lien period.
- To stop, give a written request to the bank to cancel the auto-debit.
Check your bank statement once a year for the debit. Many people are enrolled without remembering, and many families do not know a claim is possible.
How to claim
PMJJBY death claim: the nominee submits the claim form, death certificate, and the account and KYC details to the bank branch where the account was held. The bank forwards it to the insurer.
PMSBY claim: in addition, documents showing the accident, such as an FIR or police report, post-mortem report for death, or a disability certificate from a competent medical authority, are needed.
Submit the claim as soon as possible after the event. If the bank or insurer delays, complain to the bank's grievance channel and then follow the route in the Insurance Ombudsman guide. The general documents list in the death claim documents guide also helps.
For disability and income protection beyond PMSBY, see income protection riders.
Frequently asked questions
Can I join PMJJBY after 50?
New enrolment is for ages 18 to 50. If you joined before 50 and kept paying, cover can continue up to 55.
Is there a maturity or refund in these schemes?
No. They are pure one-year covers renewed annually, like a term plan.
Is the PMJJBY claim tax-free?
Yes. It is a sum received on death under a life insurance policy. See tax on life insurance payouts.
Does PMSBY cover death by illness?
No. It covers accidents only. For death from any cause you need PMJJBY or a term plan.
Sources
- Jan Suraksha portal — scheme rules, forms and FAQs for PMJJBY and PMSBY
- Department of Financial Services, Ministry of Finance — scheme notifications and premium revisions
- IRDAI — list of life insurers offering PMJJBY and consumer guidance
- Your bank or post office branch — enrolment status, auto-debit and claim forms
