PMJJBY is the Pradhan Mantri Jeevan Jyoti Bima Yojana. It is a one-year life cover, renewed every year, for death from any cause. The rules revised from 1 June 2022 set the sum at ₹2,00,000 and the annual premium at ₹436. PIB repeated both figures on 18 August 2025. The cover year runs from 1 June to 31 May.
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Open calculatorYou join with a savings account at a participating bank or a post office. The age band is 18 years completed to 50, using the age nearer the birthday. You cannot enter after that. If you keep paying, cover continues until age 55. One person uses one account. A second premium taken by mistake does not buy a second ₹2,00,000. The extra premium can be forfeited.
The bank or post office is the master policy holder. LIC or another life insurer on the same terms carries the risk. You give consent and an auto-debit. Of the ₹436, the rules allocate ₹395 to the insurer, ₹30 as commission on a new enrolment, and ₹11 to the bank. An electronic enrolment you do yourself passes that commission back by reducing the premium. The rules still print ₹436 as the annual figure.
Join after 31 May and the premium for that year steps down: ₹342 from September to November, ₹228 from December to February, and ₹114 from March to May. June, July and August stay at the full premium. Risk starts when the premium is debited.
The lien is 30 days for anyone enrolling for the first time on or after 1 June 2021, and for anyone who exits and rejoins. Death other than by accident in those days is not paid. Accident death is paid. The claim form asks the nominee to file preferably within 30 days of the death, with proof of death and the nominee’s KYC. The scheme guide has the document list.
Tax and the gap
The rules do not mention tax. Section 123 (this was Section 80C) can include a life-insurance premium, up to 10% of the sum assured for a policy issued on or after 1 April 2012, inside ₹1,50,000, and only outside Section 202. On this cover, 10% is ₹20,000. The premium is under that line. The section 123 guide is the basket.
₹2,00,000 does not replace a term plan. The FIRE calculator is the household gap. This cover is a small debit on a savings account.
Questions
What does PMJJBY pay?
The rules pay ₹2,00,000 if the member dies, from any cause, after the lien. There is no maturity value.
What is the 30-day lien?
From 1 June 2021, a new member is not covered for death other than by accident in the first 30 days. Accident death is covered. Leaving and rejoining starts the lien again.
Can the premium be claimed in tax?
The scheme rules do not say so. A life-insurance premium can sit in Section 123 (this was Section 80C) only outside Section 202, and only up to 10% of the sum assured. ₹436 is under the ₹20,000 line on this cover.
Sources
Figures checked 1 Nov 2026.