What Is PMJJBY and PMSBY?

If you’re trying to understand what PMJJBY and PMSBY are, here’s a quick and clear breakdown. These are two low-cost social security insurance schemes launched by the Government of India to offer basic financial protection to individuals, especially those in the unorganised and low-income sectors.

Both schemes operate through bank accounts, where the annual premium is auto-debited, making them easy to maintain and accessible for most citizens.

What Is PMJJBY? (Pradhan Mantri Jeevan Jyoti Bima Yojana)

To understand what PMJJBY and PMSBY are, let’s start with PMJJBY.

PMJJBY is a life insurance scheme that provides financial support to a nominee in case the policyholder passes away.

Key Features of PMJJBY

• Coverage: ₹2 lakh life insurance cover
   
• Premium: ₹330 per year
   
• Eligibility: 18 to 50 years
   
• Covers: Death due to any cause
   
• Purpose: Provide financial security to families through affordable life cover
   

PMJJBY is ideal for individuals who want basic life insurance at a minimal annual premium.

What Is PMSBY? (Pradhan Mantri Suraksha Bima Yojana)

The second part of what is PMJJBY and PMSBY is PMSBY, which is focused on accident insurance.

Key Features of PMSBY

• Coverage:
   
  • ₹2 lakh for accidental death or total disability
     
  • ₹1 lakh for partial disability
     
• Premium: ₹20 per year
   
• Eligibility: 18 to 70 years
   
• Covers: Accidental death, permanent disability, loss of limbs/sight
   
• Purpose: Offer inexpensive personal accident insurance to citizens
   

PMSBY is especially useful for those exposed to daily travel, labour-intensive work, or accident risks.

How Are PMJJBY and PMSBY Different?

Understanding what PMJJBY and PMSBY also mean, knowing the difference between the two:

 Why Are These Schemes Important?

Both schemes offer:

• Affordable premiums
   
• Easy enrolment through banks or post offices
   
• Auto-debit system for hassle-free renewal
   
• Basic financial protection for families
   

They are designed to create a safety net for millions of citizens who may not have access to traditional insurance plans.

Empowering Families With Low-Cost Coverage

If you’ve been wondering what PMJJBY and PMSBY are, think of them as two essential government-backed insurance options: PMJJBY for life insurance and PMSBY for accident insurance. Together, they help households secure basic protection at extremely low annual costs.