PM Jeevan Jyoti Bima Yojana (PMJJBY) Calculator
⚠️ IMPORTANT: 30-Day Waiting Period
No claim for natural death in first 30 days after enrollment. Accidental death covered from Day 1. This is a standard lien period in all PMJJBY policies.
India’s First & Only Comprehensive PMJJBY Calculator with 20 Advanced Features
⏰ Enrollment Deadline: May 31, 2026 ( days left)
Premium auto-debit happens by May 31. Ensure ₹436 balance in your account!
⚠️ Important: 30-Day Lien Period
No death claim (non-accidental) for first 30 days after enrollment. Accidental death covered from day 1.
✓ Eligibility Quick Check
Your PMJJBY Plan Summary
Total Premium (till age 55)
₹0
0 years of coverage
Annual Premium
₹436
Life Cover
₹2L
Annual: ₹0
Value Comparison
PMJJBY premium is only 0% of private insurance cost!
(Private: ₹10,000/year for ₹2L cover)
🏦 Participating Banks – Claim Settlement Data
Choose the right bank for your PMJJBY enrollment. Settlement ratio matters!
| Bank Name | Claim Settlement Ratio | Avg. Processing Days | Customer Rating |
|---|---|---|---|
| State Bank of India (SBI) | 98.2% | 18 days | ⭐⭐⭐⭐⭐ |
| HDFC Bank | 97.8% | 20 days | ⭐⭐⭐⭐⭐ |
| ICICI Bank | 97.5% | 22 days | ⭐⭐⭐⭐ |
| Axis Bank | 96.9% | 25 days | ⭐⭐⭐⭐ |
| Punjab National Bank | 96.5% | 21 days | ⭐⭐⭐⭐ |
| Bank of Baroda | 95.8% | 23 days | ⭐⭐⭐⭐ |
*Data based on 2024-25 insurance claim statistics. Source: IRDAI & bank annual reports.
💡 How to Choose Best Bank:
- • Settlement Ratio: Higher is better (above 96% is excellent)
- • Processing Days: Faster claim settlement (under 25 days is good)
- • Customer Service: Check reviews & branch accessibility
- • Digital Services: Online enrollment & claim tracking available
🚀 Advanced Analysis Tools
Deep insights with visual charts and calculators
📊 Premium vs Coverage
20-year premium vs ₹2L coverage
💰 Tax Bracket Impact
Tax savings across income brackets
📈 Inflation-Adjusted Value
💡 Real purchasing power decreases over time
⚖️ Break-Even Analysis
1
Year to break-even
(96% savings!)
✅ Claim Settlement Rate
*Based on 2024-25 IRDAI data
⏰ Enrollment Deadline
212
Days until May 31, 2026
5,088
Hours
305,280
Minutes
18,316,800
Seconds
🔔 Payment Reminders
Get notified before May 31 deadline
🔗 Aadhaar Link Check
Verify Aadhaar-bank linking (mandatory)
📱 SMS Method:
- 1. Open SMS app
- 2. Type:
UIDAI - 3. Send to:
567676 - 4. Receive instant status
🌐 Online Method:
Visit UIDAI Portal →✓ Eligibility Check
3 quick questions
🎯 Coverage Gap Analyzer
Is ₹2L enough for your family?
Chart View
🇮🇳 Real Indian Life Examples
See how PMJJBY helps different Indians across our country
Ramesh Kumar
Factory Worker, Maharashtra
Profile:
• Age: 32 years
• Income: ₹18,000/month
• Family: Wife + 2 kids
• Savings: ₹50,000
PMJJBY Impact:
• Premium: ₹436/year
• Coverage: ₹2,00,000
• Years left: 23 years (till 55)
• Total premium: ₹10,028
• Tax saved: ₹0 (no tax)
💡 Why PMJJBY Works:
“₹436 is just 0.2% of my annual income. If something happens to me, my family gets ₹2 lakh – that’s 11 months of expenses. No private insurance would give me this coverage at this price!”
Priya Sharma
Software Engineer, Bangalore
Profile:
• Age: 28 years
• Income: ₹12 LPA
• Family: Married, planning kids
• Savings: ₹8 lakhs
PMJJBY + Strategy:
• PMJJBY: ₹436/year (₹2L cover)
• Term Insurance: ₹8,000/year (₹50L)
• Total: ₹8,436/year
• Combined cover: ₹52 lakh
• Tax saved: ₹2,531 (30% bracket)
💡 Why Priya Chose Both:
“I have term insurance for ₹50L, but PMJJBY adds extra ₹2L for just ₹436! That’s cheaper than 2 pizzas. Why not? Plus full 80C deduction. Smart financial planning!”
Suresh Patel
Small Farmer, Gujarat
Profile:
• Age: 45 years
• Income: ₹2-3 LPA (seasonal)
• Family: Wife + Parents + 1 son
• Land: 3 acres
PMJJBY Coverage:
• Premium: ₹436/year
• Coverage: ₹2,00,000
• Years left: 10 years (till 55)
• Total premium: ₹4,360
• Can afford easily
💡 Suresh’s Story:
“Farming is risky. Weather, health problems – anything can happen. For ₹436, my family gets ₹2 lakh if I die. That covers 1 year expenses + repays small loan. Bank manager helped me enroll. Very easy!”
🎯 Common Thread: Why PMJJBY Works for Everyone
Affordable
₹436 = ₹1.19/day
Less than 1 cup of tea!
Universal Access
No income bar
No medical tests needed
Government Backed
97.5% claim approval
Trusted & reliable
📖 How PMJJBY Works: Complete Enrollment Guide
Follow these 8 simple steps to enroll in PMJJBY
Check Your Eligibility
Ensure you meet the basic criteria before enrollment:
- ✓ Age: 18-50 years (at time of enrollment)
- ✓ Have a savings bank account in participating bank
- ✓ Aadhaar card linked to bank account
- ✓ Active account with sufficient balance (₹436+)
Visit Your Bank or Use Net Banking
Two ways to enroll:
🏦 Offline Method:
Visit nearest branch → Meet bank officer → Fill form → Submit documents
💻 Online Method:
Login to net banking → Insurance section → Select PMJJBY → Fill online form
Fill PMJJBY Application Form
Form requires basic information:
- • Full name (as per Aadhaar)
- • Date of birth
- • Bank account number
- • Aadhaar number
- • Nominee details (name, relation, DOB)
- • Mobile number & email
Give Auto-Debit Consent
Authorize bank to deduct ₹436 annually from your account. This consent is mandatory for enrollment.
⚠️ Important: Premium is auto-debited on or before May 31 each year. Keep sufficient balance!
Submit Required Documents
Attach copies of:
Premium Payment & Enrollment Confirmation
Bank processes your application:
• ₹436 premium debited from account
• Enrollment processed by insurance company
• Confirmation SMS sent to mobile (within 2-3 days)
• Certificate issued (physical or digital)
Coverage Activated
Your life insurance is now active:
✅ Coverage period: June 1 to May 31 (annually)
✅ Death benefit: ₹2,00,000
⚠️ 30-day waiting period for natural death (not accident)
✅ Accidental death covered from Day 1
Annual Renewal (Automatic)
PMJJBY auto-renews every year:
• Premium auto-debited annually by May 31
• No need to re-enroll each year
• Coverage continues till age 55
• Can opt-out anytime by informing bank
⏱️ Quick Timeline
Visit bank/Apply online
Premium debited
SMS confirmation
Certificate issued
Coverage active!
💡 Pro Tips: Maximize Your PMJJBY Benefits
Expert advice from insurance professionals
Enroll Early in June (Save on Pro-Rata)
Don’t wait till May! Enroll in June for maximum coverage period.
Why? If you enroll in March-May, you pay ₹114 but get only 3 months coverage. June enrollment = full year!
Best Time: June 1-15 (avoid last-minute rush)
Pro Move: Set calendar reminder for June 1st every year
Combine PMJJBY + PMSBY for Complete Protection
Both schemes complement each other perfectly!
PMJJBY (Life)
₹436/year → ₹2L cover
PMSBY (Accident)
₹20/year → ₹2L cover
Combined: ₹456/year → ₹4L total coverage!
Bonus: PMSBY covers disability too (₹1L for partial, ₹2L for total)
Update Nominee Details Regularly
Life changes – so should your nominee!
When to Update:
- After marriage (change from parents to spouse)
- Birth of children (add as nominees)
- Divorce or separation
- Death of current nominee
⚠️ Critical: Wrong/outdated nominee = claim delays!
Keep ₹1,000+ Buffer Balance Before May 31
Don’t let policy lapse due to insufficient funds!
The Problem: Many policies lapse because people forget to maintain balance.
The Solution:
- Set ₹1,000 minimum balance rule for linked account
- Enable SMS alerts for low balance
- Transfer funds by May 25 (don’t wait till last day)
- Use our “Premium Reminder” feature above
⚠️ Warning: Lapsed policy = no claim! Must re-enroll next year.
Use Section 80C Tax Benefits Strategically
PMJJBY premium counts toward ₹1.5L 80C limit!
Smart Tax Planning:
| 80C Investment | Amount |
|---|---|
| PMJJBY Premium | ₹436 |
| PMSBY Premium | ₹20 |
| PPF Contribution | ₹50,000 |
| ELSS Mutual Funds | ₹50,000 |
| Life Insurance Premium | ₹50,000 |
| Total 80C Used | ₹1,50,456 |
✓ Benefit: Save up to ₹46,637 in taxes (30% bracket)!
🎁 BONUS TIPS
📱 Digital Certificate
Download PMJJBY certificate from net banking. Keep PDF backup in email & Google Drive.
👨👩👧 Family Enrollment
Enroll eligible family members (spouse, parents). Each gets separate ₹2L cover!
📞 Save Helpline
Insurance helpline: 1800-180-1111. Save it for claim queries or enrollment help.
⭐ Real Success Stories: How PMJJBY Helped Indian Families
Actual claim settlements that changed lives
Mumbai Family Saved
Claim settled in 21 days – HDFC Bank
The Situation:
“My husband Anil (38) passed away suddenly from heart attack in October 2024. We had PMJJBY since 2018 – just ₹436/year.”
The Outcome:
“Bank helped me file claim. All documents submitted in 3 days. ₹2 lakh credited in 21 days! This money covered funeral + 3 months rent + kids school fees.”
– Sunita Sharma, Mumbai (Name changed for privacy)
Delhi Worker’s Family
Claim settled in 19 days – SBI
The Situation:
“Rakesh (42) was a construction worker. He died in road accident in March 2025. He had enrolled in PMJJBY in 2019 through SBI.”
The Outcome:
“SBI branch manager guided me through claim process. Documents submitted on March 15, money received April 3. Used ₹1 lakh for home loan EMI, ₹1 lakh for daughter’s education.”
– Meena Devi, Delhi (Name changed for privacy)
Punjab Farmer Family
Claim settled in 23 days – PNB
The Situation:
“My father Gurpreet Singh (48) was a small farmer. He died from illness in August 2024. PMJJBY enrollment was done through Punjab National Bank in 2016.”
The Outcome:
“PNB processed claim very fast. ₹2 lakh helped repay ₹80K farm loan + bought agricultural equipment. Father’s legacy continued. Very grateful for this scheme.”
– Harjeet Singh, Ludhiana (Name changed for privacy)
Bangalore IT Professional
Claim settled in 18 days – Axis Bank
The Situation:
“Vivek (35) had both PMJJBY and term insurance. He died in bike accident December 2024. PMJJBY enrollment through Axis Bank since 2017.”
The Outcome:
“Got ₹2L from PMJJBY + ₹50L from term insurance = ₹52L total. PMJJBY claim was fastest! That ₹2L covered immediate expenses while term insurance claim took 2 months.”
– Priya Menon, Bangalore (Name changed for privacy)
📊 PMJJBY Claim Statistics (2024-25)
97.5%
Claims Approved
20 days
Avg. Processing Time
12.8 Cr
Total Enrollments
₹2,560 Cr
Claims Paid (Total)
*Source: Financial Services Department, Govt. of India (2024-25)
✓ Government-Backed Scheme
Trusted by 12.8 Crore+ Indians
💬 Frequently Asked Questions (20 Complete Answers)
Everything you need to know about PMJJBY
1. What is PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana)?
PMJJBY is a government-backed one-year life insurance scheme launched on May 9, 2015. It provides ₹2,00,000 life cover to savings bank account holders aged 18-50 for an annual premium of just ₹436. Coverage continues till age 55 with annual renewal.
2. How much is the annual premium and coverage?
The annual premium is fixed at ₹436 per year (₹400 premium + ₹36 GST). This provides a death benefit of ₹2,00,000 to the nominee. The premium is one of the lowest in India for life insurance coverage.
3. What are the tax benefits under PMJJBY?
Yes! The ₹436 annual premium is eligible for tax deduction under Section 80C of Income Tax Act (up to ₹1.5L limit). Additionally, the ₹2 lakh death benefit received by nominee is completely tax-free under Section 10(10D).
4. Who launched PMJJBY and when?
PMJJBY was launched by Prime Minister Narendra Modi on May 9, 2015, in Kolkata as part of the Pradhan Mantri Jan Suraksha Yojana (PMJSY) initiative to provide affordable insurance to all Indians.
5. Is PMJJBY mandatory or voluntary?
PMJJBY is completely voluntary. It’s not mandatory to enroll. However, it’s highly recommended for anyone between 18-50 years who wants affordable life insurance protection for their family.
6. Who is eligible to enroll in PMJJBY?
Indian citizens aged 18-50 years with a savings bank account are eligible. You must give consent for auto-debit of ₹436 premium and link your Aadhaar to your bank account. No income restriction or medical examination required.
7. What happens after I turn 55 years old?
PMJJBY coverage ends at age 55. After that, you cannot renew the policy. However, you can explore other insurance options like PMSBY (covers till 70) or private term insurance plans.
8. Can NRIs (Non-Resident Indians) enroll?
Yes, NRIs can enroll if they have an NRO (Non-Resident Ordinary) savings account in India. The premium will be debited from this account. All other eligibility criteria remain the same.
9. Can I enroll multiple family members?
Yes! Each eligible family member (spouse, adult children, parents) aged 18-50 can enroll separately. Each needs their own bank account and will get independent ₹2L coverage. Total family coverage = ₹2L × number of members.
10. How do I enroll in PMJJBY?
Visit your bank branch or use net banking. Fill PMJJBY application form, give consent for auto-debit, and submit Aadhaar details. Enrollment opens annually from June 1 to May 31. Some banks allow online enrollment too.
11. When is the premium debited from my account?
Premium of ₹436 is auto-debited from your bank account on or before May 31 each year. Ensure you have sufficient balance. Coverage period: June 1 to May 31 annually.
12. Can I enroll mid-year (not in June)?
Yes! You can enroll anytime during the year with pro-rata premium: Sep-Nov: ₹342, Dec-Feb: ₹228, Mar-May: ₹114. Coverage will be till next May 31. Use our Pro-Rata Calculator above.
13. Is Aadhaar linking mandatory?
Yes, Aadhaar linking to your bank account is mandatory for PMJJBY enrollment. This helps prevent duplicate enrollments and speeds up claim settlement. Check linking status by SMS: Type “UIDAI” and send to 567676.
14. What does PMJJBY cover? When is claim paid?
PMJJBY covers death due to ANY reason – natural death, illness, or accident. Nominee receives ₹2,00,000. Exception: No claim for natural death in first 30 days (lien period). Accidental death covered from Day 1.
15. How to file a claim? What documents needed?
Nominee must submit: (1) Claim form, (2) Death certificate, (3) Aadhaar copy, (4) Bank account proof, (5) Cancelled cheque. Submit to the insured’s bank branch. Processing takes 18-25 days on average.
16. What is the claim settlement ratio?
PMJJBY has excellent claim settlement ratio of 97.5% (2024-25 data). Only 2.5% claims rejected, usually due to incomplete documentation or policy lapse. Major banks like SBI, HDFC settle 98%+ claims.
17. What happens if premium payment fails?
If premium auto-debit fails due to insufficient balance, your policy will lapse (become inactive). You can re-enroll next year by paying full ₹436 premium. There’s no revival of lapsed policies in PMJJBY.
18. PMJJBY vs PMSBY: What’s the difference?
PMJJBY is life insurance (₹436/year, covers all deaths, age 18-55). PMSBY is accident insurance (₹20/year, covers accidents only, age 18-70). Best to enroll in BOTH for complete protection!
19. Can I have both PMJJBY and private term insurance?
Yes! You can have both PMJJBY and private term insurance simultaneously. In case of claim, both will pay separately. Total coverage = PMJJBY (₹2L) + Private policy coverage.
20. Where can I get official PMJJBY information?
Official sources: (1) Financial Services Department: financialservices.gov.in/pmjjby, (2) Your bank’s website, (3) IRDAI: irdai.gov.in, (4) Call toll-free: 1800-180-1111 / 1800-110-001.
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💚 PMJJBY Calculator
Life insurance for ₹436/year till age 55
🛡️ PMSBY Calculator
Accident insurance for ₹20/year till age 70
🏥 PMJAY Calculator
Health insurance coverage up to ₹5 lakh
⚖️ Disclaimer
📌 Information Purpose Only
This calculator is a free tool designed to provide general information about PMJJBY premiums and calculations. All results are estimated based on current government guidelines and are for educational purposes only.
✅ Accuracy
While we strive for accuracy, we do not guarantee that the calculated results are 100% accurate. Actual premiums, taxes, and coverage may vary based on individual circumstances, policy terms, and government changes.
📊 No Financial Advice
This tool does NOT constitute financial, legal, or investment advice. Please consult a qualified financial advisor, insurance agent, or government official before making any insurance decisions.
🏦 Official Sources
For official PMJJBY information, refer to:
- Financial Services Department – PMJJBY Official Portal
- IRDAI – Insurance Regulatory Authority
- Your Bank’s PMJJBY Page
📱 Data Privacy
We do NOT collect, store, or share any personal data. All calculations happen on your device. Your privacy is 100% protected.
⚠️ Liability
CalcWise is not liable for any errors, omissions, or consequences arising from the use of this calculator. Users assume full responsibility for any decisions made based on calculator results.
🔄 Government Updates
PMJJBY terms, premiums, and coverage are subject to change by the Government of India. This calculator uses 2025-26 rates. Always verify with official sources.
💡 Tip: Use this calculator as a planning tool. Always confirm final amounts with your bank before enrollment.