Quick answer: The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is the Centre’s one-year, renewable term life cover of ₹2 lakh for an annual premium of ₹436, open to bank and post office account holders aged 18 to 50. It is in the news because Jammu and Kashmir has crossed 13.07 lakh cumulative enrolments, as reported by Akashvani on 2 November 2026.
Why PMJJBY is in the news
Citing figures released by the Jammu and Kashmir Department of Information and Public Relations, Akashvani’s Jammu correspondent reported that PMJJBY has reached 13.07 lakh cumulative enrolments in the Union Territory. In the financial year 2026-27 so far, the scheme has collected premium payments of ₹3.01 crore in J&K, while claims worth ₹4.98 crore have been paid to families of insured members who died. The department has asked residents to enrol at their nearest bank branch or post office.
The J&K figure is a reminder of what a low-cost cover can do: in the current year the money paid out to bereaved families in the UT is already larger than the premium collected there.
Key facts about PMJJBY
| Feature | Rule (as on 2026) |
|---|---|
| Type of cover | Pure term life insurance: ₹2 lakh paid on death due to any cause |
| Annual premium | ₹436, auto-debited from the subscriber’s account (raised from ₹330 with effect from 1 June 2022) |
| Entry age | 18 to 50 years |
| Cover continues till | Age 55 (age near birthday), subject to yearly renewal |
| Policy year | 1 June to 31 May; consent for auto-debit to be given by 31 May each year |
| Who can join | Individual savings account holders of participating banks or post offices; only one account per person can be used; Aadhaar is the primary KYC |
| Insurers | LIC and other life insurance companies; the participating bank acts as master policyholder |
| Waiting (lien) period | 30 days from enrolment for new subscribers, during which death other than by accident is not covered |
Joining mid-year: a person who enrols late pays a reduced premium for the remaining months, as listed by participating banks:
| Month of enrolment | Premium payable |
|---|---|
| June, July, August | ₹436 (full) |
| September, October, November | ₹342 |
| December, January, February | ₹228 |
| March, April, May | ₹114 |
PMJJBY in the Jan Suraksha family
PMJJBY was launched in May 2015 together with the Pradhan Mantri Suraksha Bima Yojana (PMSBY) and the Atal Pension Yojana (APY); its risk cover began on 1 June 2015. When the three schemes completed 11 years in May 2026, Finance Minister Nirmala Sitharaman said PMJJBY had crossed 27 crore enrolments and settled claims worth more than ₹21,500 crore for over 10.7 lakh families. Minister of State for Finance Pankaj Chaudhary pointed to the online Jan Suraksha Portal, which lets people enrol without visiting a branch.
| Point | PMJJBY | PMSBY |
|---|---|---|
| Risk covered | Death from any cause | Accidental death or disability |
| Cover | ₹2 lakh | Up to ₹2 lakh |
| Annual premium | ₹436 | ₹20 |
| Age band | 18–50 to join (cover to 55) | 18–70 |
| Enrolments (May 2026) | Over 27 crore | About 58 crore |
For the exam, the key idea is financial inclusion: the schemes ride on ordinary bank and post office accounts, with premiums auto-debited, so that insurance and pension cover reach low-income families at very low cost.
Exam angle: how NDA, CDS and CAPF can ask this
- Matching schemes to benefits (PMJJBY – life cover, PMSBY – accident cover, APY – pension) is a common one-mark question in the General Studies paper.
- Premium and age figures (₹436, ₹20; 18–50, 18–70) are easy targets for statement-type questions.
- Questions on the Ministry of Finance’s financial inclusion push can combine Jan Suraksha schemes with bank accounts and Aadhaar-based KYC.
Practice MCQs
Q1. What is the annual premium under PMJJBY at present?
(a) ₹12 (b) ₹20 (c) ₹330 (d) ₹436
Answer: (d) — revised from ₹330 to ₹436 from 1 June 2022.
Q2. Up to what age can PMJJBY cover continue on renewal?
(a) 50 years (b) 55 years (c) 60 years (d) 70 years
Answer: (b) — entry closes at 50, but cover runs till 55.
Q3. Which of the following pairs is correctly matched?
(a) PMSBY – death from any cause (b) PMJJBY – accidental death only (c) APY – pension (d) PMJJBY – age 18 to 70
Answer: (c) — Atal Pension Yojana is the pension scheme of the Jan Suraksha trio.
Q4. The PMJJBY policy year runs from:
(a) 1 April to 31 March (b) 1 January to 31 December (c) 1 June to 31 May (d) 1 July to 30 June
Answer: (c) — renewal consent is due by 31 May.
Frequently asked questions
How many people have enrolled in PMJJBY in Jammu and Kashmir?
13.07 lakh cumulative enrolments, as reported by Akashvani on 2 November 2026, citing the J&K Department of Information and Public Relations.
What does PMJJBY pay and for how much premium?
It pays ₹2 lakh to the nominee if the insured person dies from any cause, for an annual premium of ₹436.
Who is eligible for PMJJBY?
Savings account holders of participating banks or post offices aged 18 to 50 who give consent for auto-debit. Cover can be renewed till age 55.
Can I join PMJJBY in the middle of the year?
Yes. A reduced pro-rata premium of ₹342, ₹228 or ₹114 applies depending on the quarter in which you enrol, and a 30-day lien period applies for new subscribers.
How is PMJJBY different from PMSBY?
PMJJBY is life cover for death from any cause at ₹436 a year; PMSBY covers only accidental death or disability at ₹20 a year for ages 18 to 70.
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Sources: Akashvani News (J&K enrolments), Akashvani News (11 years of Jan Suraksha), PIB-hosted SLBC Punjab release, May 2026, Karur Vysya Bank PMJJBY rules, Business Today (2022 premium revision). Facts as reported up to 4 November 2026.
Featured image background (representative): Sarkaaaar / Wikimedia Commons, CC BY-SA 4.0.
