Jeevan Jyoti Bima Yojana Vs. Suraksha Bima Yojana

Jeevan Jyoti Bima Yojana (PMJJBY) vs Suraksha Bima Yojana (PMSBY)

Difference between Jeevan Jyoti Bima Yojana (PMJJBY) and Suraksha Bima Yojana (PMSBY)

Many of our blog readers are getting confused in between the latest launched Government Social Security Schemes Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY).

Since both of the schemes offer same insurance coverage with same mode of payment, people are not getting clear picture of the benefits of the schemes.

In this article I have tried to clarify the difference between both the schemes by putting it in a tabular form.

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Jeevan Jyoti Bima Yojana (PMJJBY) vs Suraksha Bima Yojana (PMSBY)


S. No.FeaturesPradhan Mantri Suraksha Bima Yojana (PMSBY)Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
1.Eligibility18-70 years18-50 years
2.Number of PolicyOne Policy Per PersonOne Policy Per Person
3.When to Join the Scheme?In any year after giving the premium subject to the age.In any year after giving the premium subject to the age.
4.Sum Assured (Fixed)Rs.2 lakhsRs.2 lakhs
5.PremiumRs. 12 per annumRs. 330 per annum
6.Cover ceasing ageAt the age of 70 yearsAt the age of 55 years
7.Maturity BenefitNilNil
8.Death Benefit (Natural Death)NilRs.2 lakhs
9.Death Benefit (Accidental Death)Rs.2 lakhsRs.2 lakhs
10.Disability of both eyes, both hands, both legs or one eye and one limbRs.2 lakhsNil
11.Disability of one eye or one limbRs.1 lakhNil
12.Maximum Insurance coverRs.2 lakhs (From any one of Bank account)Rs.2 lakhs (From any one of Bank account)
13.Risk Period1st June to 31st May every year.1st June to 31st May every year.
14.Mode of PaymentPremium will be auto debited from account in the month of May every year.Premium will be auto debited from account in the month of May every year.
15.Mandatory DocumentAadhar CardAadhar Card

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Social Security Schemes

Points to Ponder:


1. The form with permission to auto debit the premium amount is to be given every year by 31st May.

2. Along with the joining form, subscribers are also required to submit self-certificate of good health in the prescribed proforma.

3. In case the subscriber is opted for both the schemes then the total insurance cover in the event of accidental death is Rs.4 lakhs.

4. In case the subscriber is opted for both the schemes and dies due to natural death then the total insurance cover would be of Rs.2 lakhs.

5. If the premium is not paid on the time due to insufficient balance, the policy can be restored after paying the full amount together with the self-attested copy of good health.

6. Closure of the bank account with which the schemes was joined will result in lapsing of the policy.

7. You can Download the application form to apply for the schemes in any language through the link provided below

http://www.jansuraksha.gov.in/forms.aspx

16 thoughts on “Jeevan Jyoti Bima Yojana (PMJJBY) vs Suraksha Bima Yojana (PMSBY)”

  1. ashok kumar majhi

    Insurance for all.
    Nice initiative, every account holder can easily pay,merely by paying total sum ofRs 340 for both the scheme a person can insure his life.

  2. shiv narayan sahu

    thanks modi ji jo ki garibo ke hit ke liye kiya mai ak madham varg ka adami hu jo ki praivet job karke apne rapivar ka kharch chal pata hai . meri 2 beti hai at app se nivedan hai ki c.g nonisurksha yojna ke taht meri 2 no beti ki parhai ka kharch cg govt se avgat karay.

    thanks

  3. Great Initiative by Govt…….however their should always be an online version for fulfilment. It is difficult to visit bank every week especially when they are clueless about things.

  4. Joydev Bhattacharjee

    If one person join APY and doesn’t continue for his poor financial condition is he allow to withdraw his deposit or adjust his premium to a lower pension group ?

  5. pmjjbi……What is the maturity payment?What banifet we want after Maturity.Also How many Year complit for Maturity ?

  6. Thanks for this article because I was really confused and I started searching the difference between among them. So, In conclusion the difference is mainly lies in accidental death and natural death. Am I right?

  7. very good scheme for middle class and poor person.now every person of India will be stand on own foot.thanks p.m.
    acche din aa gaye.

    THANKS MODI JI.

  8. jitendra rathore

    very good scheme for middle class and poor person.now every person of India will be stand on own foot.thanks p.m.
    acche din aa gaye

  9. SHIBA PRASAD MUKHERJEE

    Khoo……bb sundar scheme.Sam janatar jonya adarsha policy.we are proud for this policy.

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