PMJJBY Records 99.94% Claim Settlement Ratio, Coverage Crosses 26 Crore

The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) has recorded a claim settlement ratio of 99.94% since its launch, reflecting strong execution of the government’s flagship life insurance scheme. According to data shared in Parliament, the average time taken to settle claims ranges from less than one day to 17 days, depending on the insurer.

As of January 7, 2026, a total of 10,57,222 claims had been received under the scheme. Of these, 10,23,789 claims were settled, while 32,799 claims were rejected. The figures highlight the scheme’s focus on timely and efficient claim processing for policyholders.

Growing Reach Across the Country

PMJJBY has seen a steady expansion in coverage over the years. The total number of beneficiaries increased from 103.48 million in May 2021 to 263.15 million by January 2026. This growth reflects rising awareness of low-cost life insurance and improved access through the banking system.

The scheme offers life insurance cover at a nominal annual premium, making it affordable for a wide section of the population, particularly first-time insurance users and low-income households.

Challenges Due to Policy Lapses

Despite its success, the government acknowledged that a significant number of policies lapse every year. The primary reason for these lapses is the non-availability of sufficient bank balance at the time of auto-debit of the annual premium.

Policy lapses remain a key concern as they interrupt coverage and reduce the long-term effectiveness of the scheme. Addressing this issue has become an important focus area for authorities.

Steps to Improve Coverage and Efficiency

To reduce lapses and improve service delivery, the government has rolled out several measures. These include nationwide financial inclusion saturation campaigns and strengthening last-mile banking services through banking correspondents.

Enrolment and claims processes have also been digitised through the Jansuraksha Portal, which provides end-to-end digital services for PMJJBY and PMSBY. All public sector banks, regional rural banks, and insurers have been onboarded on the platform to ensure smoother coordination.

In addition, State Level Bankers’ Committees and Union Territory Level Bankers’ Committees are working with banks, insurers, and government agencies to improve scheme implementation at the regional level.

Read more: Budget 2026: What is the Orange Economy and Why is the Government Backing It?

Conclusion

PMJJBY’s high claim settlement ratio and rapid processing timelines underline the scheme’s effectiveness in providing financial protection at low cost. While policy lapses remain a challenge, ongoing digital and outreach initiatives aim to strengthen coverage and ensure that more families benefit from reliable life insurance support.

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