The PMJJBY is a government-backed health insurance scheme in India. It was introduced in the Annual Budget of the year 2015 and was launched by the Indian Prime Minister later in Kolkata.
It is open and available to people who are aged between 18-50 years. It considers an annual premium of Rs.330 from the subscriber’s bank account. The life cover of Rs.2 lakhs shall be for one year stretching from the period of 1st June to 31st May and is renewable.
The risk of death is covered under this scheme up to the aforementioned amount.