What is the difference between the "Pradhan Mantri Suraksha Bima Yojna" and "Pradhan Mantri Jeevan Jyoti Bima Yojana"?


PMJJBY and PMSBY were launched by the Department of Financial Services, Ministry of Finance, in 2015.

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

  • (PMJJBY): Rs.330/- LIFE INSURANCE (Natural Death)

  • It is an Accident Insurance Scheme that offers “Accidental death” and “Disability cover” in case of death or disability due to an accident.

  • The cover period under these Schemes is 1st June of each year to 31st May of subsequent year.

  •  These Schemes are offered/administered through both Public and Private Sector Insurance companies, in tie-up with scheduled commercial banks, Regional Rural Banks and Cooperative Banks.

  • PMJJBY offers a renewable one year term life cover of Rupees Two Lakh to all subscribing bank account holders in the age group of 18 to 50 years, covering death due to any reason, for a premium of Rs.330/- per annum per subscriber, to be auto debited from subscriber’s bank account.

Difference between Pradhan Mantri Suraksha Bima Yojna" and "Pradhan Mantri Jeevan Jyoti Bima Yojana


Pradhan Mantri Suraksha Bima Yojana (PMSBY)

  • (PMSBY): Rs.12/- ONLY ACCIDENT INSURANCE (Accidental Death & Disability)

  • Similarly, PMSBY offers a renewable one year accidental death cum disability cover to all subscribing bank account holders in the age group of 18 to 70 years for a premium of Rs.12/- per annum per subscriber to be auto debited from subscriber’s bank account.

  • The cover period under these Schemes is 1st June of each year to 31st May of subsequent year.

  • These Schemes are offered/administered through both Public and Private Sector Insurance companies, in tie-up with scheduled commercial banks, Regional Rural Banks and Cooperative Banks.

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