'Saved us in our hardest time', PMJJBY brings hope to grieving families in MP

With an annual premium of just Rs 436, the scheme has become a dependable safeguard for countless households, delivering insurance coverage of Rs 2 lakh to the nominee in the event of the policyholder’s death.

A beneficiary from Deori Karaiya village in Maihar, Madhya Pradesh, illustrates the scheme’s impact. Suddama Singh Tiwari, who died due to an electric shock, had enrolled in the PMJJBY. After his death, his family received Rs 2 lakh under the scheme.

Tapan Savanta, Branch Manager at SBI Bank, Maihar, shared: “The scheme by Prime Minister Narendra Modi, Jeevan Jyoti Bima Yojana, is very effective. Our bank received applications from eight individuals and successfully disbursed benefits to two. One got Rs 2 lakh and the other secured an amount of Rs 10 lakh. With a one-time annual deduction starting at just Rs 20, this scheme offers substantial help in unfortunate incidents.”

Suddama Singh’s son, Shivam Singh Tiwari, expressed his gratitude: “After my father passed away, we received this benefit under the scheme. The Jeevan Jyoti Bima Yojana has been very helpful to us, and I extend my heartfelt thanks to Prime Minister Narendra Modi ji for supporting us during this hard time.”

His wife, Neeru Tiwari, added: “We received Rs 2 lakh through this scheme. I am very thankful.”

In Sanjay Colony, Shivpuri, another emotional story unfolded. After the death of her husband, Raziya, a resident of the area, found herself in financial hardship. She later discovered her husband had opted into PMJJBY. After submitting the necessary documents, Rs 2 lakh was credited to her account.

Raziya shared, “This insurance amount has improved our financial condition, and life is slowly getting back on track. I thank Prime Minister Modi for such a meaningful initiative. This is truly a great scheme, and everyone should get insured.”

The PMJJBY is part of a quiet financial revolution that began on May 9, 2015, when the Indian government launched it. Aimed at making life insurance accessible to the poor and underserved, this scheme was designed with simplicity and dignity at its core. Under the scheme, individuals receive an insurance coverage of Rs 2 lakh for an annual premium of Rs 436.

As of March 19, the scheme has achieved a cumulative enrolment of 23.36 crore individuals and a total of 9,37,524 claims were received. Of these, 9,05,139 claims were successfully disbursed, amounting to Rs 18,102.78 crore. This means that in ten years, over 23 crore Indians have been covered, and more than nine lakh families have received timely financial support after the loss of a loved one.