How to check your eligibility for PMJJBY?

If you are unsure about enrolling for those pricey term insurance plans that pinch a lot upon expiration as you do not get a single penny out of the same if you survive the term period. But then, it is tempting enough to set something aside for your family, as an incremental saving scheme, which might be handy in case of your untimely demise.

These conflicting thoughts and preferences have been best addressed by the Central Government, which has come up with the ‘Pradhan Mantri Jeevan Jyoti Bima Yojana as a way to offer term insurance cover to your immediate family. But then, it is first necessary to understand a fair bit about the PMJJBY scheme and how the same works, whilst taking care of generic eligibility factors.

How does the PMJJBY Scheme Works?

The PMJJBY is strictly a term policy launched by the Indian government with the poorer societal strata in mind. Most importantly, the PMJJBY scheme is ascertained yearly, making it one of the better term insurance policies around.

This means, for the policy to be active, you need to renew the same on a yearly basis, depending on the quarters you want to be covered for. In case you enter the plan for the given year keeping comprehensive coverage in mind, you need to pay Rs. 330 plus the total taxes as the yearly premium. The rates keep decreasing in case of late entry and the coverage will also be restricted.

Plus, the term life coverage begins 45 days after you enter the plan, but the sum assured is readily paid if the insurer meets with accidental death.

Eligibility and Associated Factors

Checking the eligibility for the PMJJBY cannot be any easier as the government has already detailed the necessary criteria. Firstly, to be eligible for the PMJJBY term plan, you should be at least 18 years of age. Also, you can enter the plan even at the age of 50 years and periodic renewals will then cover you till 55.

Also, you need to connect the insurance scheme with a savings bank account from a relevant bank, provided your application goes through in the first place. Plus, you must be mindful of the fact that coverage starts on June 1st each year and lasts up to the 31st of May.

The eligibility might take a hit if you goof up the application process in the first place. You must know that PMJJBY can be issued via any LIC and to activate the same, you must download the multi-lingual form from the official website, fill the same up, and submit the same with the bank with the required address, age, and proof of nationality.


Your family can get an assured sum of Rs. 2 Lakhs if you are eligible for the PMJJBY scheme and can get the policy activated and linked to the concerned bank account. However, if you want a term plan that offers bigger coverage to your family, you can always find one at the Finserv MARKETS.

Comments are closed.