What Is PMJJBY and PMSBY?

Understanding what is PMJJBY and PMSBY is essential for anyone looking for low-cost insurance backed by the Government of India. These two schemes offer basic life and accident insurance, making financial protection accessible even for low-income families. Both PMJJBY and PMSBY are linked to bank accounts, require minimal paperwork, and ensure that individuals get essential coverage at affordable premiums.

What Is PMJJBY and PMSBY: Its Meaning and Purpose

When exploring what is PMJJBY and PMSBY, the first step is knowing what each scheme covers.

PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana) is a life insurance scheme that provides a ₹2 lakh cover in case of the policyholder’s death due to any cause. It is designed as a pure protection plan to support families financially.

PMSBY (Pradhan Mantri Suraksha Bima Yojana) is an accident insurance scheme offering ₹2 lakh for accidental death or total disability and ₹1 lakh for partial disability. It focuses on covering risks arising from unforeseen accidents.

Both plans extend social security to millions of Indians at extremely low annual premiums.

 What Is PMJJBY and PMSBY: Eligibility, Premium and Coverage

To fully understand what is PMJJBY and PMSBY, here are the key features:

PMJJBY Features

• Eligibility: 18–50 years
  
   
• Premium: ₹330–₹436 yearly
  
   
• Coverage: ₹2 lakh (death due to any cause)
  
   
• Renewal possible up to age 55
  
   
• No medical examination required
  
   
• Auto-debit from savings account
  
   

PMSBY Features

• Eligibility: 18–70 years
  
   
• Premium: ₹20 yearly
  
   
• Coverage: ₹2 lakh (accidental death or total disability)
  
   
• ₹1 lakh (partial disability)
  
   
• Auto-debit facility ensures seamless renewal
  
   

These simple structures make PMJJBY and PMSBY easy to access and maintain.

PMJJBY vs PMSBY: Why Both Schemes Matter

A common question is what is PMJJBY and PMSBY meant for together?
PMJJBY protects your family in case of death due to any cause, while PMSBY safeguards you against accidental risks. They complement each other, offering a combined protection layer at less than ₹500 a year.

For individuals with limited financial resources, these schemes act as essential insurance shields.

Why Understanding These Schemes Matters

Knowing what is PMJJBY and PMSBY empowers you to choose affordable and meaningful coverage for your family’s financial safety. Together, these schemes offer life protection, accident cover, and peace of mind at extremely low premiums making them one of the most accessible social security options for millions of Indians.