Over 21 cr people benefited under PMJJBY life insurance scheme: Finance Ministry [Video]

More than 21 crore people have benefited under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) scheme that provides life insurance coverage, said the Ministry of Finance.

The PMJJBY, launched in May 2015 is a term life insurance plan. Under this scheme, in case of death due to any reason, the family of the insured gets Rs 2 lakh.

“Pradhan Mantri Jeevan Jyoti Bima Yojana #PMJJBY has provided Rs 2 lakh life insurance coverage to over 21 crore beneficiaries, ensuring financial security for families in times of uncertainty,” the Ministry said in a post on social media platform X.

It added that till October 20, the scheme saw a cumulative enrolment of 21.67 crore. On the other hand, the cumulative number of claims stood at 860,575, worth Rs 17,211.50.

People aged 18-50 years with an individual bank or a post office account can enrol under the scheme. It provides a …