Details of Pradhan Mantri Jeevan Jyoti Bima Yojana

Pradhan Mantri Jeevan Jyoti Bima Yojana

What is Jeevan Jyoti Insurance Scheme? Details of how to apply for this scheme, eligibility criteria, premium and benefits of Prime Minister’s newly launched Jeevan Jyoti Bima Yojana.

On 9th May 2015, PM Narendra Modi launched three schemes. Out of which, one is Jeevan Jyoti Bima Yojana. Others are Pradhan Mantri Suraksha Bima Yojana and Atal Pension Yojana. These schemes are launched for the welfare of the people who are in need. The Jeevan Jyoti Insurance Scheme is an insurance scheme that will provide a benefit of Rs. 2 Lakh, which will be payable to the family of the member in case of a person’s death due to any reason.


Jeevan Jyoti Bima Scheme is a helpful insurance scheme started by the Indian government, and it provides cover of Rs. 2 Lakhs in case of death of the member of the scheme due to any reason. Eligible applicants need to join the scheme up to 30th August or 30th November 2015. And, the premium of Rs. 330 is to be paid by the member.


▪   Rs. 330 to be endowed yearly that in turns to less than one rupee per day and Rs. 27.5 per month.

▪   The payment of premium will be deducted from the bank account of the individual in single partial amount, so it is necessary to maintain the required balance.

▪   Rs. 2 Lakh Risk coverage will be there in case of death of the member for any reason.

▪   Life Insurance Corporation and all other life insurers who are willing to join the scheme and tie-up with banks for this purpose will offer the plan.

▪   For the policyholder, it is mandatory to renew the policy each year.

▪   While joining the program, the applicant need to provide the nominee name and details about the relationship.

▪   Note: In case of minor, name of the guardian has to be specified.

▪   The contribution of the government towards this project is to be decided separately every year.

Note: The contribution amount to be paid by the government will come from the unclaimed money that has been lying idle in various public welfare funds.


▪  Age of the applicant – 18 to 50 years.

▪  The applicant should have a savings account in any of the participating bank accounts.

▪  The interested person should submit a duly filled application form.

▪  The candidate joining the scheme must provide a self-certificate of good health in the consent cum declaration form on the date of enrollment or earlier.

Enrollment Modality of Jeevan Jyoti Bima Scheme

▪   The cover for the 1-year period stretching from 1st June to 31st May for which option to join/pay by auto-debit from the designated savings bank account on the prescribed forms will be required to be given by 31st May of every year, with the exception as above for the initial year.

▪   Late enrollment with payment of full annual premium for prospective cover may be possible with a submission of self- certificate of good health.

▪   Details of premium have to be paid by the applicant.

▪   Member of the plan needs to pay Rs. 330 per annum (yearly).

Specification of the premium:

  • Insurance premium to LIC or insurance company: Rs.289/-per annum per member.
  • Reimbursement of Expenses to BC/Micro/Corporate/Agent: Rs. 30/- per annum per member.
  • Payment of Administrative costs to participating Bank: Rs. 11/- per year per member.
  • Total – Rs. 330
  • Starting date of PM Jeevan Jyoti Bima Yojana Scheme will be from 1st June 2015, so the interested applicants are required to apply soon!
  • The premium account will be deducted (Debited) from the bank account member automatically in one instalment. So, it is advised for the members to keep the required amount in the respective bank account.


▪   Download the application form.

▪   Take the print of the downloaded application form and fill it up.

▪   This duly filled application (enrollment or consent) form has to be submitted at the bank branch.

▪   Make sure to maintain enough balance in your bank account.

Download the Application Form

For downloading the PM Jiva Bima Yojana Insurance Scheme Application Form & Claim Form in your Desired Language Click here.

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