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PMJJBY has provided Rs 2 lakh life insurance coverage to over 21 crore beneficiaries: Finance Ministry

by Euro Times
December 14, 2024
in Finance
Reading Time: 2 mins read
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New Delhi: Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) has supplied Rs 2 lakh life insurance coverage protection to over 21 crore beneficiaries, making certain monetary safety for households in instances of uncertainty, the Finance Ministry stated on Saturday.

The Finance Ministry in a social media put up on X added that the cumulative enrolment underneath the PMJJBY has recorded at 21.67 crore, and the cumulative variety of claims acquired was 860,575, value Rs 17,211.50 as of October 20 this yr.

PMJJBY is a one-year life insurance coverage scheme renewable from yr to yr, providing protection for demise as a result of any purpose. Individuals within the age group of 18-50 years having a person financial institution or a put up workplace account are entitled to enrol underneath the scheme.

Individuals who be a part of the scheme earlier than finishing 50 years of age can proceed to have the chance of life cowl as much as the age of 55 years upon cost of the common premium.

Life cowl of Rs 2 lakh in case of demise as a result of any purpose towards a premium of Rs 436 every year.


The Finance Ministry on Saturday supplied the figures of Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jan Dhan Yojana (PMJDY).It said that almost 48 crore people have enrolled in Rs 2 lakh accident insurance coverage protection by PMSBY, whereas the PMJDY has attracted greater than 54 crore beneficiaries. As per the official figures, the cumulative enrolment underneath the PMSBY has been 47.59 crore, and the cumulative variety of claims acquired stood at 193,964, whereas the cumulative variety of claims disbursed is 147,641.

As of 14th August, 24, the variety of whole PMJDY accounts is 53.13 crore; 55.6 p.c (29.56 crore) Jan-Dhan account holders are ladies, and 66.6 p.c (35.37 crore) Jan Dhan accounts are in rural and semi-urban areas, as per the official figures.

As per the ministry, whole deposit balances underneath PMJDY accounts stand at Rs 2,31,236 crore. The deposits have elevated about 15 instances with a rise in accounts of three.6 instances as of Aug 15, 2024.

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