NEW DELHI — The cumulative enrollments under the Pradhan Mantri Jeevan Jyoti
Bima Yojana (PMJJBY) -- a life insurance initiative -- has surged by a whopping
699 per cent since 2016, said the Union government on Friday, as the scheme
marks a decade of launch.
Calling it an “incredible growth” the government said it
has secured millions of lives by providing social security and financial
inclusion.
“PMJJBY cumulative enrolments surged by 699 per cent,
from 2.96 Cr (March 2016) to 23.64 Cr (April 2025), securing millions of lives
under the Jansuraksha umbrella,” the Ministry of Finance said in a post on
social media platform X.
Launched on May 9, 2015, PMJJBY addressed the dark
reality that only about 20 per cent of India’s population had any form of
insurance coverage.
The scheme was designed to make life insurance not only
affordable but also accessible, doing away with traditional barriers such as
high premiums, paperwork, or medical examinations.
PMJJBY offers a Rs 2 lakh life insurance cover in case of
the subscriber’s death from any cause -- natural or accidental -- for an annual
premium of just Rs 436.
The policy is open to individuals aged 18 to 50 years
with a savings bank or post office account, and coverage continues up to the
age of 55.
To enrol, a beneficiary need not undergo any medical
examination. An individual can join via banks, post offices, or even online.
As of March 19, PMJJBY has enrolled 23.36 crore
individuals. During the decade, the scheme processed 9,37,524 claims, of which
9,05,139 claims were successfully disbursed, releasing a total sum of Rs
18,102.78 crore.
The scale of impact is remarkable and demonstrates the
scheme’s wide reach and operational efficiency.
Of the total beneficiaries, more than 53 per cent are
women, and over 72 per cent are from rural India.
