It was launched in 2015 with the objective of enhancing social security coverage of poor, thereby achieving the larger objective of universalizing social security in India.
Under the scheme, a one year life insurance, renewable from year to year, offering coverage of 2 lakh on death due to any reason is available to people in the age-group 18-50.
Just like PMSBY, PMJJBY too have a system of auto-debit for subscribers.
Positive: Just like PMSBY, PMJJBY would help in addressing the low penetration of life insurance in the country.
