PMJJBY: Affordable life insurance for young adults
PM Jeevan Jyoti Bima Yojana (PMJJBY) is a simple, government-backed life insurance plan.
For just ₹436 per year—auto-deducted from your bank or post office account—it gives you ₹2 lakh coverage if something happens to you, no matter the cause.
It's open to anyone in India aged 18-50 with a single savings account.
Who can enroll and how?
If you're between 18 and 50 and have one savings account, you're eligible.
Signing up is easy: use net banking or fill out a consent form at your bank or post office.
Your coverage starts right away and runs until May 31 of the next year.
Key points to remember
Coverage always runs June to May. NRIs with eligible Indian accounts can also enroll, but all payouts happen in rupees.
It's a straightforward way for young adults—and their families—to get basic financial protection without much hassle.