Key facts
What the official sources publish
Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.
Policy typeOne-year renewable group term-life insurance covering death from any cause.View source
The current DFS defines as renewable one-year term life cover for death due to any cause.
- Source
- — Department of Financial Services
- Page / section
- — nature of scheme; one-year renewable term life cover
- Accessed
- 1 Oct 2026
- Confidence
- high
InsurerBank of Maharashtra's current page names LIC of India under an MOU dated 20 April 2015; the DFS scheme FAQ also permits other participating life insurers. The bank page does not state that LIC is exclusive for every current enrolment.View source
BoM names its MOU and gives its date; DFS says participating banks may work with or another approved life insurer.
- Source
- — Bank of Maharashtra
- Page / section
- Current page, scheme implementation paragraph; cross-check DFS on scheme administrator
- Accessed
- 1 Oct 2026
- Confidence
- high
Sum insured / cover₹2,00,000 payable to the nominee on death due to any cause, subject to the initial lien and one-account rule.View source
The publishes ₹2 lakh on death due to any cause; multiple-account cover is restricted to ₹2 lakh.
- Source
- — Department of Financial Services
- Page / section
- — scheme benefit and duplicate-account limit
- Accessed
- 1 Oct 2026
- Confidence
- high
Entry age18–50 years at enrolment; annual renewal may continue until age 55 (age near birthday), subject to the scheme rules.View source
The sets entry at ages 18–50 and says assurance terminates at age 55, with annual renewal until then.
- Source
- — Department of Financial Services
- Page / section
- — subscriber eligibility and termination of assurance
- Accessed
- 1 Oct 2026
- Confidence
- high
Policy termOne year, from 1 June to 31 May; renewable annually when consent, eligibility and premium debit continue.View source
The scheme cover period is 1 June through 31 May, renewable year to year.
- Source
- — Department of Financial Services
- Page / section
- — enrolment period and modality
- Accessed
- 1 Oct 2026
- Confidence
- high
Premium₹436 for a full year. First-time mid-year enrolment: ₹342 for September–November, ₹228 for December–February or ₹114 for March–May; June–August enrolment and each full-year renewal use ₹436.View source
The current gives ₹436 annual premium and pro-rata first-year amounts of ₹342, ₹228 or ₹114 by enrolment quarter; renewals use the full annual amount.
- Source
- — Department of Financial Services
- Page / section
- — premium payable, first-year pro-rata amounts and renewal
- Accessed
- 1 Oct 2026
- Confidence
- high
Initial lienFor a new enrolment or rejoining, death from a cause other than accident during the first 30 days from risk commencement is not payable; the lien does not apply on later renewals.View source
The states no non-accidental death claim during the initial 30 days after enrolment or rejoining; accidental death is excepted.
- Source
- — Department of Financial Services
- Page / section
- — risk start, new entrants/rejoining and initial lien
- Accessed
- 1 Oct 2026
- Confidence
- high
Key coverageDeath from any cause, with ₹2,00,000 payable to the nominee; non-accidental death is subject to the 30-day initial lien.View source
The says death from any cause is covered, but non-accidental death in the initial lien period is not payable.
- Source
- — Department of Financial Services
- Page / section
- — scheme benefit and lien
- Accessed
- 1 Oct 2026
- Confidence
- high
Exclusions and limitsNon-accidental death in the first 30 days after new enrolment or rejoining is not payable. Outside that lien, the scheme covers death due to any cause, including suicide and murder. It has no maturity benefit or surrender value; duplicate enrolments are limited to one ₹2,00,000 cover and duplicate premiums may be forfeited.View source
The states death due to any cause is covered except non-accidental death during the initial lien, limits duplicate cover and confirms no maturity or surrender value.
- Source
- — Department of Financial Services
- Page / section
- — lien; events covered; duplicate cover; pure term/no maturity or surrender value
- Accessed
- 1 Oct 2026
- Confidence
- high
EligibilityA Bank of Maharashtra savings-account holder aged 18–50 may enrol with consent for auto-debit. An individual may hold only one PMJJBY cover across participating bank/
BoM's gives its savings-account age and consent rule; DFS adds the scheme-wide single-account restriction and claim-currency condition.
- Source
- — Bank of Maharashtra and Department of Financial Services
- Page / section
- BoM — eligibility and enrolment; DFS — eligible individual/joint accounts and single-account rule
- Accessed
- 1 Oct 2026
- Confidence
- high
Enrolment and paymentJoin through the prescribed consent form and savings-account auto-debit; the bank page says the yearly debit is due by 31 May. Voluntary electronic enrolment may reduce the insurance premium by the saved new-enrolment commission; the DFS page does not state a separate numeric discounted total.View source
The bank page says annual auto-debit is due 31 May; DFS describes the electronic-enrolment commission benefit but provides no separate discounted total.
- Source
- — Department of Financial Services; Bank of Maharashtra
- Page / section
- DFS — auto-debit and premium appropriation; BoM page — auto-debit due date
- Accessed
- 1 Oct 2026
- Confidence
- high
Termination conditionsAssurance ends at age 55, when the linked account is closed or lacks funds for premium debit, or is restricted to one ₹2,00,000 cover if the member enrolled through multiple accounts; duplicate premiums may be forfeited.View source
The lists age 55, account closure/insufficient balance and duplicate enrolment as termination or restriction events.
- Source
- — Department of Financial Services
- Page / section
- — termination/restriction of assurance
- Accessed
- 1 Oct 2026
- Confidence
- high
Medical requirementNo medical examination is required on the reviewed Bank of Maharashtra page; it says a self-declaration of good health is sufficient at enrolment.View source
The current bank says no medical examination is required and asks for a simple self-declaration of good health.
- Source
- — Bank of Maharashtra
- Page / section
- — Is a medical test required to join ?
- Accessed
- 1 Oct 2026
- Confidence
- high
Benefits and features
- ₹2,00,000 life cover on death due to any cause, subject to scheme conditions
- ₹436 annual premium
- Cover year 1 June–31 May
- 30-day lien for non-accidental death after new enrolment
- Auto-debit and annual renewal
Eligibility
- Savings-account holder must be aged 18–50 and provide consent for auto-debit; of India is the named insurer under the Bank page's MOU.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- consent-cum-declaration form
- Savings-account and auto-debit mandate
- Nominee details and
Related official documents
Pradhan Mantri Jeevan Jyoti Bima Yojana — Bank of Maharashtraofficial-product-page · current · accessed 1 Oct 2026
↗Pradhan Mantri Jeevan Jyoti Bima Yojana — Department of Financial Servicesofficial-government-scheme-page · current · accessed 1 Oct 2026
↗