Difference Between Pradhan Mantri Suraksha Bima Yojana and Jeevan Jyoti Bima yojana

The Government recently launched three insurance schemes named Pradhan Mantri Suraksha hBima Yojana, the Pradhan Mantri Jeevan Jyoti Bima Yojana and Atal Pension Yojna.

Many interested individuals are getting confused between Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima as both have insurance and are more or less similar.

Here are few differences and similarities between the two insurances which were announced in this Budget and launched by Prime Minister Narendra Modi.

Difference between Pradhan Mantri Suraksha Bima Yojana (PMSBY) Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).

Features	Pradhan Mantri Suraksha Bima Yojana (PMSBY)	Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
Eligibility	18-70 years	18-50 years
Premium	Rs. 12 per annum	Rs. 330 per annum
Cover ceasing age	At the age of 70 years	At the age of 55 years
Death Benefit	Nil	Rs.2 lakhs
Disability	Rs.2 lakhs	Nil
Purpose of Insurance	Accidental Death and Disability	Life insurance

Similarities between Pradhan Mantri Suraksha Bima Yojana (PMSBY) Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

Features	Pradhan Mantri Suraksha Bima Yojana (PMSBY)	Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
Sum Assured (Fixed)	Rs.2 lakhs	Rs.2 lakhs
Maturity Benefit	Nil	Nil
Accidental Death Benefit	Rs.2 lakhs	Rs.2 lakhs
Maximum Insurance cover	Rs.2 lakhs	Rs.2 lakhs
Mode of Payment	Premium to be auto debited	Premium to be auto debited
Insurance period	1 June to 31 May	1 June to 31 May

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