Pradhan Mantri Jeevan Jyoti Bima Yojana (life insurance)

• The life insurance scheme will offer a renewable one year life cover of Rs.200,000 to all savings bank account holders in the age group of 18 to 50 years, covering death due to any reason, for a premium of Rs.330 per annum per subscriber.
  
  
• However people who have joined the scheme before attaining the age 50 may continue till the age of 55 years.
  
  
• It is important to note, even in case where one is already covered through other life insurance from term insurance, endowment plans, ULIPs or under any group life insurance schemes, he/she still be eligible to be a member of this scheme.