Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

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.

Features: 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.

• The premium is Rs. 436 per annum which is to be auto-debited in one installment from the subscriber’s bank account as per the option given by him of each annual coverage period under the scheme.
• As on 30^th June 2022, cumulative gross enrollment reported by banks subject to verification of eligibility, etc. is over 13.11 crore under PMJJBY. A total of 6,21,372 claims were registered under PMJJBY of which 5,92,192 have been disbursed.