How Has PMJJBY’s Cumulative Enrollment Increased by 699% Since 2016?
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Synopsis
Discover how the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) has transformed lives with a staggering 699% increase in enrollments since its inception. This decade-long journey underscores the initiative's commitment to social security and financial inclusion in India.
Key Takeaways
- 699% increase in enrollments since 2016.
- 23.64 crore individuals enrolled as of April 2025.
- Affordable annual premium of Rs 436.
- Coverage extends up to age 55.
- Over 53% of beneficiaries are women.
New Delhi, May 9 (NationPress) The cumulative enrollments under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), a significant life insurance program, have experienced an astonishing 699 percent surge since 2016, according to the Union government on Friday, coinciding with the scheme's tenth anniversary.
Describing this as an extraordinary achievement, the government highlighted its role in securing countless lives by fostering social security and financial inclusion.
“Cumulative enrollments under PMJJBY soared by 699 percent, increasing from 2.96 crore in March 2016 to 23.64 crore in April 2025, ensuring the safety of millions under the Jansuraksha initiative,” stated the Ministry of Finance in a social media post on platform X.
Initiated on May 9, 2015, PMJJBY sought to address the alarming fact that only around 20 percent of India's populace had any form of insurance coverage.
The scheme aimed to make life insurance both affordable and accessible, eliminating traditional hurdles such as high premiums, extensive paperwork, and medical assessments.
PMJJBY provides a Rs 2 lakh life insurance cover in the event of the subscriber's demise, whether natural or accidental, for a modest annual premium of just Rs 436.
This policy is available to individuals aged 18 to 50 years who possess a savings bank or post office account, with coverage extending up to the age of 55.
Enrollment requires no medical examination, and individuals can register through banks, post offices, or online platforms.
As of March 19, PMJJBY has enrolled 23.36 crore individuals. Over the past decade, the scheme has processed 937,524 claims, with 905,139 claims successfully disbursed, totaling Rs 18,102.78 crore.
The scale of its impact is remarkable, showcasing the scheme's extensive reach and operational effectiveness.
Among the beneficiaries, more than 53 percent are women, and over 72 percent are residents of rural regions.
Point of View
It is evident that the PMJJBY has made a significant mark in enhancing financial security among the Indian populace. The program’s impressive growth reflects the government’s commitment to ensuring that insurance becomes accessible to all, particularly in rural areas and among women, thereby contributing to the overall economic empowerment of the nation.
NationPress
21/05/2025
Frequently Asked Questions
What is PMJJBY?
The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed life insurance scheme aimed at providing financial security to individuals, especially those with limited access to insurance.
How much is the annual premium?
The annual premium for PMJJBY is just Rs 436, making it affordable for a vast segment of the population.
Who is eligible for PMJJBY?
Individuals aged between 18 and 50 years with a savings bank or post office account are eligible to enroll in PMJJBY.
Is a medical examination required to enroll?
No, there is no medical examination required to enroll in the PMJJBY, making it easy for individuals to secure coverage.
What is the coverage amount?
PMJJBY offers a life insurance coverage of Rs 2 lakh in case of the subscriber's death from any cause.
