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 typePMJJBY is a one-year renewable life-insurance scheme. PMSBY is a one-year renewable personal-accident insurance scheme.View source
The page describes life insurance for death from any cause; the describes a one-year personal-accident insurance scheme.
- Source
- and
- Page / section
- Scheme description and cover
- Accessed
- 1 Sept 2026
- Confidence
- high
Insurer / administratorPMJJBY is implemented by Bank of Maharashtra under its MOU with LIC of India. PMSBY is offered and administered by participating public-sector general insurers or other approved general insurers in collaboration with participating banks.View source
The Bank page names ; the official describes participating public-sector or approved general insurers.
- Source
- and
- Page / section
- Implementation / administering insurer
- Accessed
- 1 Sept 2026
- Confidence
- high
Sum insured / coverPMJJBY: ₹2,00,000 on death due to any reason. PMSBY: ₹2,00,000 for accidental death or permanent total disability and ₹1,00,000 for specified permanent partial disability.View source
The page and publish the benefit amounts recorded here.
- Source
- and
- Page / section
- Coverage / benefit table
- Accessed
- 1 Sept 2026
- Confidence
- high
Entry agePMJJBY: 18–50 years. PMSBY: 18–70 years.View source
The Bank page publishes 18–50; the and scheme materials publish 18–70.
- Source
- and
- Page / section
- Age eligibility
- Accessed
- 1 Sept 2026
- Confidence
- high
Policy termBoth schemes run from 1 June to 31 May and renew annually when eligibility, consent and premium auto-debit continue.View source
The page states the policy period; official uses the same annual cover cycle.
- Source
- and
- Page / section
- Policy period / renewal
- Accessed
- 1 Sept 2026
- Confidence
- high
PremiumPMJJBY: ₹436 per member per year. PMSBY: ₹20 per member per year. Premium is collected from the linked savings account through auto-debit.View source
The Bank page prints ₹436; the official prints ₹20 and describes one-installment auto-debit.
- Source
- and
- Page / section
- Premium and auto-debit
- Accessed
- 1 Sept 2026
- Confidence
- high
Initial waiting / lienPMJJBY applies a 30-day lien from enrolment for non-accidental death. PMSBY is accident cover; the reviewed official FAQ does not publish a general waiting period.View source
The page prints the 30-day lien; the reviewed for benefits and claims contains no general waiting-period number.
- Source
- and
- Page / section
- Lien / waiting period
- Accessed
- 1 Sept 2026
- Confidence
- high
Key coveragePMJJBY provides life cover for death due to any reason, subject to its lien and one-account rules. PMSBY provides accidental death, permanent total disability and specified permanent partial disability cover, with documentary claim evidence requirements.View source
The Bank and scheme sources publish the separate life and accident benefit scopes.
- Source
- and
- Page / section
- Coverage and claim rules
- Accessed
- 1 Sept 2026
- Confidence
- high
Key exclusions / terminationPMJJBY cover ends or is restricted on reaching age 55, closure or insufficient balance in the linked account, or duplicate enrolment; the initial 30-day lien applies to non-accidental death. PMSBY cover ends or is restricted on reaching age 70, account closure or insufficient balance, or duplicate enrolment; other partial disabilities not listed in the benefit table are not payable.View source
The reviewed scheme sources publish the age, account, duplicate-enrolment and benefit-scope conditions.
- Source
- and
- Page / section
- Termination, lien and benefit table
- Accessed
- 1 Sept 2026
- Confidence
- high
Geographic limitsPMJJBY provides life cover for death due to any reason, subject to its lien and one-account rules. PMSBY provides accidental death, permanent total disability and specified permanent partial disability cover, with documentary claim evidence requirements.View source
The manually reviewed product record states: “ provides life cover for death due to any reason, subject to its lien and one-account rules. provides accidental death, permanent total disability and specified permanent partial disability cover, with documentary claim evidence requirements.”.
- Source
- Bank of Maharashtra Pradhan Mantri Suraksha Bima Yojana () — official product page
- Page / section
- Published product metadata
- Accessed
- 1 Sept 2026
- Confidence
- high
Benefits and features
- ₹2,00,000 for accidental death or permanent total disability
- ₹1,00,000 for specified permanent partial disability
- ₹20 annual premium collected by auto-debit
- Cover renews each year from 1 June to 31 May
- Accident claim documents and reporting rules are published in the official
Eligibility
- Savings-account holder must be aged 18–70 and consent to one-account auto-debit; participating public-sector or approved general insurers administer the cover.
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 accident/death/disability evidence for claims
Related official documents
Pradhan Mantri Suraksha Bima Yojanaofficial-government-faq-and-bank-document · current-scheme-reference · accessed 1 Sept 2026
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