₹330 Insurance Scheme in 2025: In 2025, it’s surprising—almost shocking—that millions of Indians still don’t realize they qualify for the government-backed ₹436 insurance scheme, officially called the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). This incredibly affordable life insurance plan offers coverage of ₹2 lakh for an annual premium that’s less than the cost of a weekend meal. Despite its simplicity and reach, awareness remains low, especially among rural and lower-income households.
If you’re an Indian citizen aged between 18 and 50, hold a savings bank or post office account, and are in good health, you likely qualify—but chances are, no one’s told you about it.
₹330 Insurance Scheme in 2025
| Feature | Details |
|---|---|
| Scheme Name | Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) |
| Annual Premium | ₹436 (auto-debited from your bank/post office account) |
| Coverage Amount | ₹2,00,000 life cover |
| Eligibility | Citizens aged 18–50 with a savings bank or post office account |
| Enrollment Period | Annually renewable; coverage from June 1 to May 31 |
| Claims Settlement Authority | LIC of India or partnering insurance companies |
| Official Government Website | https://www.myscheme.gov.in/schemes/pmjjby |
The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is one of the simplest, most cost-effective insurance schemes available in India today. For just ₹436 per year, it provides a safety net that could protect your family’s future in the face of sudden loss. Yet, millions of Indians miss out due to lack of awareness.
Don’t be one of them. Visit your bank or apply online today. It’s a small step with big protection.
What Is the PMJJBY ₹436 Life Insurance Scheme?
The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a life insurance plan launched by the Government of India in 2015, designed to provide financial protection to families in the event of the policyholder’s death.
Offered in collaboration with LIC and other insurers, it is available to all Indians who hold a basic savings account, making it accessible even in rural and remote areas.
Why Most Indians Miss Out
Despite being a flagship initiative, PMJJBY continues to suffer from a lack of awareness, especially in rural areas. Many potential beneficiaries don’t know they qualify or how to enroll. Some also mistakenly believe that insurance is only for the wealthy or salaried class.
Here are three major reasons for low participation:
- Lack of promotion by banks and local institutions
- Language and literacy barriers
- Misconceptions about insurance and hidden charges
How PMJJBY ₹436 Life Insurance Scheme Works
Step 1: Check Eligibility
- Age between 18 and 50
- Have a savings account in a bank or post office
- Consent to auto-debit the annual premium from your account
Step 2: Visit Your Bank or Enroll Online
- Most nationalized and private banks offer enrollment forms
- Many banks also allow you to apply via net banking or mobile apps
Step 3: Submit the Required Documents
- Aadhaar card (for KYC)
- Duly filled consent-cum-declaration form
- Nominee details (for claim payout)
Step 4: Premium Payment
- An amount of ₹436 is auto-debited once a year, generally in May
Step 5: You’re Covered!
- Insurance is active from June 1 to May 31 of the following year
- If death occurs due to any reason, ₹2 lakh is paid to the nominee
Why Professionals Should Take It Seriously
Even if you’re a salaried individual or a freelancer, this scheme offers excellent risk mitigation for minimal cost. While you may already have insurance, this plan can supplement your existing policies.
For employers, PMJJBY can be offered as a benefit to workers, especially in unorganized sectors like:
- Construction
- Domestic help
- Agriculture and rural labor
Real-Life Impact: Stories That Matter
Take the case of Suresh Kumar, a 42-year-old farm laborer from Bihar. When he passed away unexpectedly, his wife received ₹2 lakh within weeks through PMJJBY. With no other source of income, this money helped her start a small tailoring business and send her daughter to school.
Thousands of such cases exist, yet millions more remain uninsured.
Benefits That Make PMJJBY a No-Brainer
- Affordable: Just ₹436/year, or ₹36/month
- Inclusive: Open to all eligible savings account holders
- Simple Claims Process: Settled within weeks through LIC or partnering insurers
- Tax Benefit: Premium paid is eligible for deduction under Section 80C
Drawbacks to Be Aware Of
- Only available to those up to 50 years of age
- Coverage lapses if you don’t maintain sufficient balance for auto-debit
- No maturity benefit (it’s a pure term insurance plan)
How to File a Claim For PMJJBY ₹436 Life Insurance Scheme
- Death certificate and claim form submitted to the insurer or bank
- Bank forwards claim to the insurance company
- LIC or insurer processes and credits ₹2 lakh to nominee’s account within 30 days
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FAQs about This ₹330 Insurance Scheme in 2025
Is PMJJBY only for government employees?
No. It is for any Indian citizen with a savings bank or post office account, not just government employees.
What happens if I miss the premium auto-debit?
If the amount isn’t debited due to insufficient balance, the policy lapses. You can re-enroll next year, subject to good health declaration.
Can I hold multiple PMJJBY policies?
No. You can only hold one active policy under PMJJBY at a time.
Is there an age limit?
Yes, you must be between 18 and 50 years to enroll. However, coverage continues up to 55 if enrolled before 50.