Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

A new scheme by Pradhan Mantri – Prime Minister of India is named as Pradhan Mantri Jeevan Jyoti Bima Yojna. The scheme holds a one year cover, renewable every year. This is basically an insurance scheme offering life insurance cover for death under any circumstances. Just like Pradhan Mantri Suraksha Bima Yojana. All the bank account holders of age group 18-50 can avail the benefits of the same but one person is eligible to join the scheme only under one bank account.