The PMJJBY premium is ₹436 per year for the Pradhan Mantri Jeevan Jyoti Bima Yojana, according to the Government of India’s published scheme information. In return, eligible subscribers receive ₹2 lakh of life insurance cover, subject to the scheme’s terms and conditions.
The premium is collected from the subscriber’s designated bank or post office account through auto-debit. However, the amount payable for first-time enrolment can be lower if you join during certain months of the policy year.
In this guide, we explain the PMJJBY annual premium, pro-rata rates, auto-debit process, renewal rules and what to do if the premium is not deducted.
What Is the PMJJBY Premium in 2026?
The published annual premium for PMJJBY is ₹436 per subscriber for one year of cover.
Here are the main details:
| Feature | Details |
|---|---|
| Annual premium | ₹436 |
| Life insurance cover | ₹2 lakh |
| Premium payment method | Auto-debit |
| Policy year | 1 June to 31 May |
| Renewal | Every year, subject to scheme rules |
| First-time enrolment during the year | Pro-rata premium may apply |
| Maturity benefit | None |
The premium is intended to keep basic life insurance accessible to eligible individuals. PMJJBY is a term life insurance scheme, not a savings plan, so it does not pay a maturity amount if the subscriber survives the coverage period.
You can verify the current published premium on the official Department of Financial Services PMJJBY page.
PMJJBY Pro-Rata Premium Rates
If you are enrolling for the first time after the policy year has started, the scheme provides for a pro-rata premium based on the month of enrolment.
The official published rates are:
| First-time enrolment month | Premium payable |
|---|---|
| June, July or August | ₹436 |
| September, October or November | ₹342 |
| December, January or February | ₹228 |
| March, April or May | ₹114 |
These amounts apply to eligible first-time enrolments under the published scheme rules. Do not assume that the reduced rates apply to annual renewal. The full annual premium of ₹436 is payable at renewal under the current published rules.
Your bank or post office can confirm the applicable amount and the date on which the premium will be collected.
Example: How much might you pay?
Suppose you are eligible and enrol for the first time in January. January falls in the December–February period, so the published pro-rata premium is ₹228.
If you continue with the scheme into the next policy year, the standard annual renewal premium is ₹436 under the current published rules.
This is why it is useful to check the enrolment month rather than assuming every subscriber pays the same amount at the time of joining.
How Does PMJJBY Auto-Debit Work?
PMJJBY uses an auto-debit facility to collect the premium from your designated bank or post office account.
Here is how the process generally works:
- You opt into the scheme. Complete the prescribed enrolment or consent process through a participating institution.
- You authorise auto-debit. Your consent allows the premium to be collected from the designated account.
- The bank or post office processes the deduction. The applicable premium is collected in one instalment.
- The premium is transferred for insurance coverage. The participating institution follows the scheme’s arrangements with its partner insurer.
- Renewal is processed annually. The premium is collected for the next coverage period, subject to the scheme’s rules and your enrolment instructions.
At enrolment, the consent covers the premium deduction and renewal arrangements until you give further instructions, in accordance with the scheme terms.
Keep your account active and maintain enough balance around the expected deduction date. If you are unsure when your bank will process the renewal, contact the branch or check the bank’s official digital service.
What Happens If Your Bank Account Has Insufficient Balance?
This is an important point because PMJJBY depends on the premium being collected to keep the insurance in force.
If your account does not have enough money when the premium is due, the deduction may fail. You should not assume that your insurance remains active simply because you enrolled in an earlier year.
If the premium has not been deducted:
- Check your bank statement or transaction history.
- Contact your bank or post office to confirm whether the renewal was processed.
- Ask whether you need to complete any additional steps to restore or continue cover.
- Confirm the applicable premium and coverage start date before relying on the insurance.
The scheme permits eligible people to join in subsequent years, subject to its conditions. However, a fresh enrolment or rejoining may be subject to the 30-day waiting-period rule for deaths from causes other than an accident.
Do not rely on a successful deduction from a previous year as proof of current coverage.
When Is the PMJJBY Premium Deducted?
PMJJBY’s standard coverage period runs from 1 June to 31 May each year.
The premium is collected through auto-debit according to the scheme’s enrolment and renewal arrangements. Your bank’s exact processing date may depend on its procedures.
For this reason, it is sensible to:
- Keep sufficient funds in the designated account.
- Check your account statement around the renewal period.
- Save any SMS or email confirming the deduction.
- Contact the bank if the premium does not appear or the transaction fails.
A bank SMS can help, but if youare unsure about your insurance status, ask the institution to confirm the enrolment or renewal record.
Can You Cancel PMJJBY Auto-Debit?
If you no longer wish to continue, contact your participating bank or post office and ask about the prescribed cancellation or opt-out procedure.
Do not assume that simply withdrawing money from the account or leaving it with a low balance is a reliable way to cancel the scheme.
Before opting out, consider whether you still need the life insurance cover and whether you have suitable alternative protection for your family.
If you later decide to rejoin, the scheme’s eligibility, premium and waiting-period rules may apply again. Confirm the current conditions with the participating institution.
Important PMJJBY Premium Rules
Before enrolling or renewing, remember these points:
- ₹436 is the published annual premium. Verify the latest applicable amount when joining or renewing.
- Pro-rata rates are for eligible first-time enrolments during the policy year. They should not be confused with the standard renewal premium.
- The premium is collected through auto-debit. You must provide the required consent.
- Coverage is not the same as a bank deduction alone. Confirm that your enrolment or renewal has been processed.
- One person can be covered through only one eligible account. Multiple accounts do not provide multiple ₹2 lakh payouts under the scheme.
- The scheme has no maturity benefit. It provides life cover, not an investment return.
- A waiting-period rule applies in specified circumstances. For first-time enrolment or rejoining, the published rules do not cover death from causes other than an accident during the first 30 days.
For the complete terms, consult the official PMJJBY scheme page.
Final Takeaway
The PMJJBY premium is relatively low compared with the ₹2 lakh life insurance cover it provides. The standard published annual amount is ₹436, while eligible first-time subscribers may pay a pro-rata amount depending on when they join.
The most important practical step is to keep sufficient funds in your designated account and check that your renewal has actually been processed. If the premium is not deducted, contact your bank rather than assuming the insurance continues automatically.
PMJJBY can be a useful part of a family’s financial protection, but it should not automatically be considered a complete replacement for life insurance suited to your family’s income, liabilities and future needs.
Benefitomics — Discover. Understand. Benefit.
Frequently Asked Questions
1. What is the PMJJBY premium in 2026?
The published annual premium is ₹436 per subscriber. Check the official scheme page or your participating bank for any subsequent revision.
2. Is the PMJJBY premium paid monthly?
No. The premium is collected in one instalment through auto-debit, rather than as a monthly payment.
3. What is the PMJJBY premium for first-time enrolment in January?
Under the published pro-rata schedule, first-time enrolment during December, January or February carries a premium of ₹228.
4. Is the PMJJBY premium refundable?
PMJJBY is a term life insurance scheme without a maturity or surrender benefit. Do not treat the premium as a deposit or investment that will be returned at the end of the year.
5. What happens if the PMJJBY premium is not deducted?
Contact your bank or post office to check your enrolment and renewal status. Do not assume your cover is active until the institution confirms it.
6. Is the PMJJBY renewal premium also ₹436?
The current published rules specify the full annual premium of ₹436 at renewal. Confirm the amount with your participating institution before the deduction.
7. Can I pay the PMJJBY premium manually?
The scheme’s prescribed process uses auto-debit from the designated account. Contact your bank or post office if the deduction has failed and ask how to proceed under the current rules.
8. Does PMJJBY cover start as soon as the premium is deducted?
For first-time enrolment, the risk cover starts from the date of auto-debit, subject to the 30-day waiting period rule for deaths from causes other than an accident. Read the scheme terms carefully.
9. Can I have PMJJBY through two bank accounts?
No. An individual can obtain coverage through only one eligible account. Duplicate enrolment does not increase the insurance cover beyond ₹2 lakh.
10. Where can I check the official PMJJBY premium?
Visit the Department of Financial Services PMJJBY page or contact your participating bank or post office.
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