PMSBY & PMJJBY: ₹2 Lakh Insurance for ₹20 / ₹436 a Year
Quick answer: Anyone with a bank account can get government-backed insurance for almost nothing: PMSBY — ₹2 lakh accident cover for ₹20/year (ages 18–70), and PMJJBY — ₹2 lakh life cover for ₹436/year (join at 18–50). Enrol in minutes via your bank's app, branch, or post office; the premium auto-debits annually.
₹456 a year for ₹4 lakh of cover — and that's just two schemes. See all yours.
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The two schemes side by side
| PMSBY (accident) | PMJJBY (life) | |
|---|---|---|
| Premium | ₹20/year | ₹436/year |
| Cover | ₹2 lakh — accidental death or total permanent disability; ₹1 lakh — partial permanent disability | ₹2 lakh — death from any cause (illness, natural, accident) |
| Entry age | 18–70 | 18–50 (cover renews up to age 55) |
| Requirement | A savings bank/post office account with auto-debit consent — no medical exam, no income limit | |
| Cover period | 1 June to 31 May, renewed by auto-debit every year | |
| Waiting period | None | 30-day lien from enrolment (accidental death covered from day one) |
They complement each other: PMJJBY pays on any death but only PMSBY covers disability. At ₹456/year combined, most families should hold both — especially informal workers with no employer insurance (pair with the e-Shram card, which links PMSBY for unorganised workers).
Eligibility
- PMSBY: ages 18–70 with a savings account
- PMJJBY: join between 18 and 50; once enrolled, renewable till 55
- An active savings bank or post office account with enough balance for the auto-debit
- One policy per person per scheme, even with multiple bank accounts
- Aadhaar is the standard KYC; NRIs are generally not the target group (payouts are in INR to Indian accounts)
How to enrol
- Net/mobile banking (fastest): log in → look for Insurance or Social Security Schemes / Jansuraksha → select PMSBY and/or PMJJBY → pick the debit account, nominee → confirm. Done in ~2 minutes each.
- Branch: fill the one-page enrolment form (available in regional languages on jansuraksha.gov.in), name a nominee, sign the auto-debit consent.
- Post office: same process on a post office savings account.
- The premium auto-debits annually (typically end-May) and cover runs 1 June–31 May. Joining mid-year: PMJJBY premium is pro-rated by quarter; PMSBY remains ₹20.
Claims: what nominees should know
- Claim forms are on jansuraksha.gov.in and at bank branches.
- PMJJBY: nominee submits the form + death certificate to the deceased's bank branch.
- PMSBY: add the FIR/police report and post-mortem report for accidental death, or a disability certificate from a civil surgeon for disability claims.
- The insurer pays directly to the nominee's bank account. Tell your family these policies exist — unclaimed covers are the schemes' biggest failure point.
Frequently asked questions
What's the difference between PMSBY and PMJJBY?
PMSBY (₹20/yr) covers accidental death and disability; PMJJBY (₹436/yr) covers death from any cause. Hold both for full protection.
Who is eligible?
Any savings-account holder: 18–70 for PMSBY, 18–50 to join PMJJBY. No medical test, no income limit.
How do I enrol?
Via your bank's app/net banking, a branch form, or a post office — with auto-debit consent and a nominee.
How does a nominee claim?
Submit the claim form and death certificate (plus FIR/post-mortem for accidents) at the holder's bank branch; payout goes to the nominee's account.
Does cover lapse if my balance is empty?
Yes — a failed auto-debit lapses the cover. Keep the account funded in late May, and reinstate quickly if missed.
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Sources: Jansuraksha (Govt of India), Dept of Financial Services — PMJJBY. Premiums and rules as currently notified — confirm with your bank. Last verified 5 June 2026.