PMJJBY vs PMSBY – What’s the Difference and Do You Need Both?

When it comes to life and accident insurance, most low-income families either skip protection or don’t know where to begin. That’s where two government schemes — PMJJBY and PMSBY — step in. For less than ₹500 a year, you can give your family a financial safety net against death or disability.

But what exactly are these two plans? How are they different — and should you take both?

Let’s break it down simply.

1. What Each Plan Covers

Think of PMJJBY as your basic life insurance. If the insured person dies — whether due to illness, accident, or any natural cause — the nominee gets ₹2 lakh.

Now think of PMSBY as your accident insurance. It pays out only if the person dies in an accident or suffers a disability because of one.

So:

• PMJJBY = death from any cause
• PMSBY = death or disability due to accident only

They’re not duplicates — they cover different risks.

2. Premium: What It Costs Per Year

This is where these plans truly shine:

• PMJJBY costs ₹436/year
• PMSBY costs just ₹20/year

Yes — ₹456 for both, which is less than ₹40/month. No other insurance gives this kind of coverage for this little.

3. Who Can Apply

Both schemes are meant for everyday working-class Indians.

• PMJJBY: Anyone aged 18–50 can enroll (renewable up to 55)
• PMSBY: Anyone aged 18–70 can enroll

You need just two things:

1. A savings account (preferably Jan Dhan or regular bank account)
2. Aadhaar card linked to the account

The premium gets auto-debited yearly — no need to remember dates.

4. How to Claim

In case of death or disability, here’s how the claim works:

• PMJJBY: Nominee has to submit the claim through the bank + insurer (LIC or SBI Life, for example).
• PMSBY: Requires accident-related documents like FIR, medical/hospital report, and claim form via the bank.

Tip: At the time of buying the policy, make sure:

• The nominee’s name is correctly entered
• Aadhaar and bank details are updated

This makes the claim smoother for your family.

5. Policy Renewal

Both plans are annual. The bank will auto-deduct the premium (usually in May or June) if there’s enough balance. You won’t get reminders — so make sure the money is there.

Should You Take Both?

Absolutely. If you earn ₹10,000–₹30,000/month, these plans are not optional — they’re essential.

Together, they offer:

• ₹2 lakh if you die (any reason) from PMJJBY
• ₹2 lakh more if death is accidental, or ₹1 lakh for partial disability from PMSBY

So, for just ₹456/year, you get double-layer protection. That’s powerful peace of mind for your spouse, children, or parents.

The Final Word

PMJJBY is your basic life shield.
PMSBY is your accident backup.
Together, they’re smart, simple, and super affordable.

PMJJBY vs PMSBY (Side-by-Side)