Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) scheme was launched by the Government of India to offer the benefits of insurance to the masses. This is an insurance scheme that offers Life Insurance coverage for death due to any reason. The PMJJBY is available to people in the age group of 18 to 50 years having a bank account who give their consent to join/enable auto-debit. Risk coverage under this scheme is for ₹ 2 Lakhs in case of death of the insured with an annual premium is ₹ 436 starting from June 1 to May 31. The scheme is valid for one year and can be renewable from year to year and the primary KYC details for this account will be the Aadhaar card.
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