PMJJBY offers one- year term life cover of ₹ 2.00 Lakh to all the subscribers in the age group of 18-50 years. It covers death due to any reason.
PMJJBY vs PMSBY
Pradhan Mantri Suraksha Bima Yojana (PMSBY) is Personal Accident Policy.
Applies only on death by accident coverage up to 2 lakhs by paying 12
18 and 70 years
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY ) is term insurance policy annual premium 300 sumassured 2 lakhs when die due to any reason.
HOW to enrol PMJJBY with bank online?
Open your banking app or net banking ex: icici bank offers quick enrol through netbanking. try sbi yono etc or visit the bank. after enrolling make certifcates list and claim process and handover to the nominess or your family memebers.
What is the Difference Between PMJJBY vs. PMSBY?
| Parameters | Pradhan Mantri Suraksha Bima Yojana | Pradhan Mantri Jeevan Jyoti Bima Yojana |
| Objective | The primary objective of PMSBY is to provide accidental death and disability insurance coverage to individuals. | PMJJBY aims to provide life insurance coverage to individuals. |
| Coverage | It provides coverage in case of accidental death and disability. | It provides coverage in case of death due to any reason, including natural causes. |
| Insurance Coverage Amount | It provides coverage for accidental death and disability that includes ₹2 lakhs in case of accidental death and total permanent disability and ₹1 lakh for partial disability. | It offers a sum assured of ₹2 lakhs to the nominee or beneficiary in case of the insured person’s death. |
| Eligibility | People under the age of 18 to 70 are eligible for this scheme. | Any Indian citizen aged between 18 and 50 years can enrol in PMJJBY. |
| Account Type | It can be availed by individuals having at least one savings bank account who give consent for the auto-debit of the premium. | It requires a savings bank account with consent for auto-debit premium. |
| Premium | The annual premium is ₹12, which is deducted automatically from the subscriber’s bank account. | The annual premium is ₹330, which is deducted automatically from the subscriber’s bank account. |
| Enrolment Period | Individuals can enrol in PMSBY from 1st June to 31st May of the subsequent year. | PMJJBY enrollment is open to people from 1 June through 31 May of the following year. |
| Renewal | It is needed to be renewed at the completion of one year annually. | Like PMSBY, the policy needs to be renewed annually. |
| Benefits | It provides financial assistance to the insured or their nominee in case of accidental death, total permanent disability, or partial disability. | It provides a lump sum amount to the nominee or beneficiary in case of the insured person’s death, irrespective of the cause of death. |
| Tax Benefits | It does not provide any tax benefits. | It provides tax benefits under Section 80C of the Income Tax Act, 1961, for the premium paid. |
PMSBY Annual Premium
PMSBY Premium is Rs. 12/- per annum, which is deducted through auto-debit
How to apply PMJJBY with SBI
you can apply through SBI Life insurance portal
SBI Life – Pradhan Mantri Jeevan Jyoti Bima Yojana