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.
Aadhar would be the primary KYC for the bank account.
The life cover of Rs. 2 lakhs shall be for the one year period stretching from 1st June to 31st May and will be renewable.
Risk coverage under this scheme is for Rs. 2 Lakh in case of death of the insured, due to any reason.
The premium is Rs. 330 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.