Recently the premium for Pradhan Mantri Jivan Jyoti Bima Yojana (PMJJBY) was increased by the Central government, what is the new premium amount for the beneficiaries under PMJJBY?
The premium is Rs. 436 per annum which is to be auto-debited in one installment from the subscriber’s bank account as per the option given by him on or before 31st May of each annual coverage period under the scheme. The PMJJBY is available to people in the age group of 18 to 50 years having a bank account who give their consent to join / enable auto-debit. The new Premium came into effect in 1 June 2022.
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