PMSBY & PMJJBY 2026 — ₹2 Lakh Insurance Lapse Alert! June 1 Premium Auto-Deduction | Check Bank Balance Now

Millions of Indians rely on two low-cost Central Government insurance schemes — PM Suraksha Bima Yojana (PMSBY) and PM Jeevan Jyoti Bima Yojana (PMJJBY) — for life and accident protection at just ₹456 per year combined. Both schemes renew automatically every June 1 by deducting the premium from your Aadhaar-linked savings account.

Quick Comparison — PMSBY vs PMJJBY

What is PMSBY — PM Suraksha Bima Yojana?

PM Suraksha Bima Yojana (PMSBY) is a Central Government accident insurance scheme launched on 9 May 2015. At just ₹20 per year, it provides:

• ₹2 lakh for accidental death or permanent total disability
• ₹1 lakh for permanent partial disability
• Cover valid June 1 to May 31 every year
• Auto-renews every year if auto-debit mandate is active
• Over 34 crore active subscribers across India

What is PMJJBY — PM Jeevan Jyoti Bima Yojana?

PM Jeevan Jyoti Bima Yojana (PMJJBY) is a Central Government life insurance scheme launched on 9 May 2015. At ₹436 per year, it provides:

• ₹2 lakh death benefit — for any reason (accident, illness, natural causes)
• Cover valid June 1 to May 31 every year
• Auto-renews every June 1 via auto-debit from savings account
• Over 17 crore active subscribers across India
• Available at all public and private sector banks, and postal savings banks

Action Required Before June 1 — Checklist

1. Check if you are enrolled in PMSBY and/or PMJJBY (see steps below)
2. Ensure your linked savings account has at least ₹456 (₹20 + ₹436) on June 1
3. If auto-debit mandate was revoked or bank account changed, re-enroll immediately at your bank branch or net banking
4. If you are not yet enrolled, June 1 is also the start of the new policy year — enroll now at your bank

How to Check if You are Enrolled

Method 1 — Net Banking / Mobile Banking

1. Log in to your bank's net banking or mobile app
2. Go to Insurance or Government Schemes section
3. Check for PMSBY and PMJJBY deduction history (previous June 1 deductions)
4. Look for ₹20 debit (PMSBY) and ₹436 debit (PMJJBY) from around June 1 of last year

Method 2 — Check Passbook / Statement

• Review your bank statement for May 31 / June 1 of 2025
• If ₹20 and ₹436 were deducted, your policies are active and will auto-renew June 1, 2026

Method 3 — Bank Branch or Customer Care

• Visit your bank branch with Aadhaar and passbook
• Ask for PMSBY / PMJJBY enrollment status

How to Enroll in PMSBY & PMJJBY (New Enrollment)

• Online: Log in to your bank's net banking → Insurance/Government Schemes → Enroll in PMSBY / PMJJBY
• Mobile Banking: Most major banks (SBI, BOB, PNB, Canara, HDFC, ICICI, etc.) allow enrollment via their apps
• Bank Branch: Fill the enrollment-cum-auto-debit consent form and submit with Aadhaar copy
• CSC: Common Service Centres can assist with enrollment
• Eligibility for PMSBY: Age 18–70, must have savings bank account, Aadhaar linked
• Eligibility for PMJJBY: Age 18–55, must have savings bank account, Aadhaar linked

How to Claim PMSBY (Accident Insurance)

1. Notify the bank within 30 days of accident/disability
2. Submit the claim form (available at bank branch or insurer's website)
3. Documents required: Death certificate (if death) / Disability certificate from govt doctor, FIR copy (if accident), Aadhaar of nominee/claimant, Bank account of nominee
4. Claim is processed by the insurance company tied to your bank
5. Helpline: Your bank's customer care or insurer helpline

How to Claim PMJJBY (Life Insurance)

1. Nominee must contact the bank within 30 days of policyholder's death
2. Submit: PMJJBY claim form, Death certificate, Aadhaar of nominee, Nominee's bank account details
3. ₹2 lakh is transferred directly to nominee's bank account within 30 days
4. Any cause of death is covered — accident, illness, natural causes

Premium Deduction Date History

Important: What Happens if Balance is Zero on June 1?

• If auto-debit fails due to insufficient balance, your policy will lapse
• You will have NO insurance cover for 2026–27
• To reinstate a lapsed PMSBY/PMJJBY, you may need to re-enroll at your bank and submit a self-declaration of good health (for PMJJBY)
• Action: Ensure your bank account has ₹456+ before June 1, 2026

Both PMSBY and PMJJBY together cost only ₹456 per year — giving you and your family ₹4 lakh total insurance protection at the cost of less than ₹1.25 per day. Please share this reminder with family members who may be enrolled.