Lots of People are asking about the difference between the Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). In this article I have tabulated the difference between both the schemes. Both the Schemes are available to the customer through their banker with auto debit of premium from their bank account annually in the month of May every year. These are the basis difference between the two schemes:

S. No.Feature and EligibilityPradhan Mantri Suraksha Bima Yojana (PMSBY)Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
1Age at entry18-70 years18-50 years
2Sum Assured200000200000
3Premium (Annual)Rs. 12Rs. 330
4Cover ceasing age7055
5Maturity BenefitNilNil
6Death Benefit (Not by accident)Nil200000
7Death Benefit (by accident)200000200000
8Disability of both eye, both hands, both legs or one eye and one limb200000Nil
9Disability of one eye or one limb100000Nil
10Maximum cover200000 (From any one of Bank account)200000 (From any one of Bank account)
11Risk Period1st June to 31 May every year on deduction of premium1st June to 31 May every year on deduction of premium
12Mode of PaymentAuto debit from bank accountAuto debit from bank account

Both are very good social security schemes and provide a comprehensive cover to life assured if taken together in a cost of Rs. 342 annually. Readers are advised to take both the schemes together. You Just have to walk into your bank and fill the one page form each for PMSBY and PMJJBY. You can also download the forms from the link provided below in your own language.

Click Here To Download Forms of PMSBY and PMJJBY in different languages



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