An auto-debit is an instruction you give your bank or post office to take a stated amount from your savings account when it falls due. You sign it once. Later debits do not need a fresh cheque. PMJJBY and PMSBY both collect their premium this way, in one instalment. The rules call it auto-debit. The same idea appears on EMIs and on some savings schemes. This entry is about the insurance consent.
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Open calculatorFor PMJJBY the annual amount is ₹436, or the pro-rata amount if you join after 31 May. Consent for the year that starts on 1 June is due by 31 May. Banks remit a regular enrolment to the insurer by 30 June. Risk on a late joiner starts when the premium is actually debited, and the 30-day lien runs from enrolment.
For PMSBY the amount is ₹20, with no pro-rata. Banks are asked to debit it in the month you opt in, preferably in May, and to remit it that same month. If the debit happens after 1 June, cover starts on the debit date.
The balance has to be there. PMJJBY cover ends if the account is closed or the balance cannot keep the insurance in force. Putting it back needs the appropriate premium, and the cover is then treated as fresh, so the lien returns. PMSBY cover is suspended when a debit fails. Reinstatement needs the full annual premium and is at the insurer’s discretion.
Stopping is a fresh instruction, not a hope that the account stays empty. Ask the bank or post office to withdraw the auto-debit consent. People who exit can rejoin in a later year while the scheme continues. An electronic enrolment you do yourself can pass the business-correspondent commission back to you. The rules describe that saving. They still print ₹436 and ₹20 as the annual premiums.
The Jan Suraksha site hosts the consent rules and the forms. The debit happens on your account, not on that website. Keep the acknowledgement. The rules allow it to double as a certificate of insurance, which is what you show when a claim asks when the premium was taken.
A missed debit is not a small inconvenience on PMJJBY. Besides the gap in cover, a restart can open a new 30-day window in which a non-accident death is not paid. The scheme guide sets the dates next to the claim form. The FIRE calculator is the larger sum these premiums do not buy.
Questions
What happens if the account cannot pay the PMJJBY premium?
Cover stops. It can be restarted when the right premium is received, and the rules then treat it as a fresh cover, so the 30-day lien applies again.
When is the PMSBY premium taken?
Banks are asked to debit it in the month you give consent, preferably in May, for a cover year from 1 June to 31 May. A debit after 1 June starts cover on that date.
How do I stop it?
Withdraw the consent at the same bank or post office. Closing the account also ends the cover. A later credit into an account you thought was empty can still be debited if the consent is alive.
Sources
Figures checked 1 Nov 2026.