About PM Jeevan Jyoti Bima Yojana
PM Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed life insurance scheme designed to provide affordable life cover to individuals in India. Through Loanpao, you can enroll in this scheme to secure ₹2 lakh life insurance coverage at a premium of just ₹436 per year, ensuring financial protection for your family in case of your untimely demise.
Why Choose PM Jeevan Jyoti Bima Yojana?
- Coverage: ₹2 lakh for death due to any cause
- Premium: ₹436/year (auto-debited)
- Policy Term: 1 year (renewable)
- Age: 18 to 50 years (entry age); coverage up to 55 years
- Easy Enrollment: Through bank account linkage
- No Medical Test: Only self-declaration required
- Tax Benefits: Eligible under Section 80C
Are You Eligible?
| Criteria | Requirement |
|---|---|
| Applicant Type | Indian resident |
| Age | 18 to 50 years (entry age); coverage up to 55 years |
| Bank Account | Active savings account with auto-debit facility |
| Health | Self-declaration of good health; no medical test required |
What Documents Do You Need?
- KYC: Aadhaar, PAN, or voter ID
- Bank Account Details: Linked savings account for auto-debit
- Age Proof: Birth certificate or passport
- Passport-size photographs
Premium Details
| Scheme | Coverage | Annual Premium |
|---|---|---|
| PM Jeevan Jyoti Bima Yojana | ₹2 lakh (death due to any cause) | ₹436/year |
Extra Charges:
- No additional charges; premium includes GST
Note: Premium is fixed as of May 2025 and subject to government revisions.
Calculate Your Premium
How to Apply for PM Jeevan Jyoti Bima Yojana
- Visit loanpao.in or your bank branch.
- Ensure you have an active savings account with auto-debit enabled.
- Fill out the PMJJBY application form with personal details.
- Submit KYC documents and a self-declaration of good health.
- Premium will be auto-debited annually from your account.
- Receive confirmation of enrollment within 7 days.
Common Questions About PM Jeevan Jyoti Bima Yojana
What is PM Jeevan Jyoti Bima Yojana?
A government-backed life insurance scheme offering ₹2 lakh coverage for death due to any cause at ₹436/year.
Who can apply?
Indian residents aged 18-50 with an active savings account and auto-debit facility.
What does the coverage include?
₹2 lakh for death due to any cause, paid to the nominee.
Is a medical test required?
No, only a self-declaration of good health is required.
What happens if I miss the premium payment?
Coverage will lapse if the premium is not auto-debited; re-enrollment is required for the next cycle.