Pradhan Mantri Jeevan Jyoti Bima ¦ Pmjjby Kya hai ¦ Pmjjby sbi insurance ¦ Pmjjby 330/- Cut ¦ Pmjjby | SBI LIFE


The PMJJBY is available to people in the age group of 18 to 50 years having a bank account who give their consent to join / enable auto-debit. Aadhar would be the primary KYC for the bank account. 

The life cover of Rs. 2 lakhs shall be for the one-year period stretching from 1st June to 31st May and will be renewable. Risk coverage under this scheme is for Rs. 2 Lakh in case of death of the insured, due to any reason. 

The premium is Rs. 330 per annum which is to be auto-debited in one installment f rom the subscriber’s bank account as per the option given by him on or before 31st May of each annual coverage period under the scheme. 

The scheme is being offered by Life Insurance Corporation and all other life insurers who are willing to offer the product on similar terms with necessary approvals and tie up with banks for this purpose.

Provision of life cover

The easy and swift enrollment process

No medical examination required

Affordable premiums

Non-linked, Non-participating, one-year renewable group term insurance plan

Are high premiums holding you back from getting your life insured?

Secure your family’s future with SBI Life – Pradhan Mantri Jeevan Jyoti Bima Yojana. Get life cover of Rs.2 lakh at a nominal premium.

This plan offers –

Security – to cover an eventuality

Simplicity – easy enrollment and swift processing with no medical examination

Affordability – through nominal premiums across all ages

Insure your family’s future today.


Term Plan

Traditional Plan

Group Protection Plan

SBI Life – Pradhan Mantri Jeevan Jyoti Bima Yojana

The Pradhan MantriJeevanJyotiBimaYojana (PMJJBY) is a one-year life insurance scheme, renewable from year to year, offering coverage for death due to any reason and is available to people in the age group of 18 to 50 years( life cover up to age 55) having a savings bank account who give their consent to join and enable auto-debit.

Government of India Life Insurance Scheme


Protect your family’s financial security in an eventuality

Simplified proposal form for enrolment

Cover of Rs.2 lakh at a reasonable cost


Security Safeguard your family against financial difficulties

Simplicity Fast enrollment and swift processing and No medical examination required, acceptance is based on satisfactory health declarations in the consent form

Affordability Insure yourself for a cover of Rs.2 lakh at a nominal premium

Avail tax benefits Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.

Plan Benefits

PMJJBY offers a renewable one year term life cover of Rs. 2 Lakh to all the subscribing bank account holders in the age group of 18-50 years, covering death due to any reason, for a premium of Rs. 330/- per annum per subscriber, to be auto debited from the subscriber’s bank account.

Maturity/ Surrender Benefit:

There is no maturity or surrender benefit under this plan.

Tax Benefits*:

Income Tax benefits/exemptions are as per the applicable income tax laws in India, which are subject to change from time to time. Please consult your tax advisor for details

These are only the brief features of the plan. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.

Important Links

Visit the Official SBI website to apply for the Scheme – “Click Here” 

Visit the official Pradhan Mantri Suraksha Bima Yojana (PMSBY) – “Click Here” 

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