PMJJBY and PMSBY: ₹2 Lakh Life and Accident Cover for ₹436 and ₹20 a Year

Last reviewed: 4 November 2026

The short version

Two low-cost government insurance schemes, both paid by auto-debit from your bank account each year:

	PMJJBY (Life)	PMSBY (Accident)
Age to join	18 to 50	18 to 70
Cover ends at	55	70
Premium per year	₹436	₹20
What is paid	₹2 lakh to nominee on death from any cause	₹2 lakh on accidental death or total disability; ₹1 lakh on partial disability
Term	1 June to 31 May, renews yearly	1 June to 31 May, renews yearly

You can hold only one PMJJBY and one PMSBY policy, even if you have several bank accounts.

What it really costs

Both together cost ₹456 a year, which is about ₹1.25 a day, for up to ₹4 lakh of cover in an accidental death (₹2 lakh from each). For someone with no insurance at all, that is very cheap protection. But it is basic cover, not a full plan.

Is this enough for your family? Be honest

• Single, no dependants: PMSBY at ₹20 is almost always worth taking. PMJJBY is optional.
• Parents, spouse or children depend on your income: take both, but ₹2 lakh will not replace years of income. A family with dependants should also look at a proper term plan. That is a separate decision.
• Over 50: you cannot newly join PMJJBY, but if you are already in, you can renew until 55. PMSBY stays open until 70.
• Over 55: PMJJBY ends. PMSBY continues to 70.

Neither scheme pays hospital bills. For that you need health insurance. See our guide on what to check before buying health insurance.

What PMSBY pays

• ₹2 lakh: accidental death; total and permanent loss of both eyes, both hands or feet, or one eye plus one hand or foot.
• ₹1 lakh: permanent loss of one eye, or use of one hand or foot.
• Not covered: natural death, suicide or self-inflicted injury, death from alcohol or drug use, injuries during a crime.

How to join

1. Have a savings account (a Jan Dhan account works) with enough balance in May.
2. Ask your branch or Bank Mitra for the Jan Suraksha form, or use the “Social Security Schemes / Jan Suraksha” section in net banking or your bank’s mobile app.
3. Give consent and sign the auto-debit mandate. Add a nominee.
4. The premium is debited every year around 31 May. Keep the balance in the account.

If the account does not have enough balance on the debit date, the cover lapses. You can rejoin by paying the premium again, and PMJJBY asks for a declaration of good health. Joining in the middle of a year may still cost the full annual premium. Ask your bank whether any initial waiting period applies to PMJJBY.

How the family claims

1. Inform the bank branch where the policy was taken as soon as possible. For PMSBY, file the claim within 30 days of the accident.
2. Submit the claim form with the death certificate (or the medical board’s disability certificate for PMSBY), the nominee’s Aadhaar and bank details, and a cancelled cheque.
3. For accident claims also give the FIR or police report, the post-mortem report if done, and hospital records for disability.

Tell your family now: which bank holds the policy, who the nominee is, and where the papers are. Many claims are delayed simply because nobody knew the policy existed.

Three things that make a claim fail

• The policy had lapsed. Low balance on the debit date. Check your passbook each May.
• The cause is excluded. For PMSBY, natural death, suicide and alcohol or drug-related deaths are not covered.
• Missing paperwork or late filing. Keep FIR and hospital papers safe and file PMSBY claims within 30 days.

Common mistakes

• Low balance on the debit date, so the policy silently lapses.
• No nominee, or a nominee who does not know the policy exists.
• Assuming it replaces health insurance.
• Holding policies in two banks and expecting double cover.

Example

Ramesh, 32, a daily-wage driver, joins both schemes for ₹456 a year in total. If he dies in a road accident, his wife can claim ₹2 lakh under PMSBY and another ₹2 lakh under PMJJBY, as the two are separate policies. If he dies of an illness, only PMJJBY pays.

Frequently asked questions

Can I join if I do not have a bank account? No. The premium is auto-debited from a savings account, so you need one. A Jan Dhan account is the easiest way.

Is the premium refundable if I never claim? No. These are pure insurance with no maturity or surrender value.

Can I join more than once? Only one PMJJBY and one PMSBY policy per person across all accounts.

When does the money leave my account? Once a year, on or before 31 May, if you have chosen auto-debit.

Sources

• jansuraksha.gov.in (official portal)
• CitizenNest: PMJJBY and PMSBY guide

Premiums and terms can be revised by the government. Please confirm the current figures on the official portal or with your bank before enrolling.