SRINAGAR: Jammu and Kashmir has registered sustained growth under the Centre’s Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), with cumulative enrolment crossing 12.54 lakh and close to 7 lakh active life insurance policies currently in force, according to figures placed before Parliament by the Union Ministry of Finance.
Data tabled in the Lok Sabha shows that participation in the Union Territory has more than tripled over the past five years, reflecting expanding awareness and outreach of the low-cost social security insurance scheme among bank account holders across districts.
As of January 7, 2026, Jammu and Kashmir recorded 12,54,540 cumulative beneficiaries, up from 3,69,637 in May 2021. Active policies also rose steadily from 4,09,967 in May 2022 to 6,94,244, indicating consistent renewals and retention of coverage under the scheme.
The year-wise progression highlights the growth. Cumulative coverage increased from 4.61 lakh in 2022 to 5.61 lakh in 2023, jumped to 8.90 lakh in 2024, crossed 10.75 lakh in 2025 and reached 12.54 lakh this year. Active enrolments followed a similar trajectory, climbing from 4.96 lakh in 2023 to 5.41 lakh in 2024, 6.20 lakh in 2025 and nearly 6.94 lakh at present.
PMJJBY provides a life insurance cover of Rs 2 lakh at an annual premium of Rs 436, auto-debited from the subscriber’s bank account, and is aimed at extending affordable risk protection to low- and middle-income households.
Nationally, the scheme has seen large-scale expansion. The Finance Ministry informed the House that 26.31 crore people have been cumulatively covered across the country, with more than 12.07 crore active policies currently in force.
The Ministry also reported a claim settlement ratio of 99.94 per cent since inception. As per the Insurance Regulatory and Development Authority of India (IRDAI), the average time taken for settlement of claims ranges between 0.61 days and 17 days, depending on the insurer.
To improve enrolments and minimise lapses caused by insufficient bank balances at the time of auto-debit, the government has undertaken regular grassroots campaigns with the participation of banks and local administrations. A four-month Financial Inclusion Saturation Campaign conducted between July and October 2025 covered 2.70 lakh gram panchayats and urban local bodies, where camps were organised for on-the-spot enrolment and awareness.
Coordination through State and Union Territory Level Bankers’ Committees, financial literacy initiatives under the Reserve Bank of India’s Centres for Financial Literacy project, deployment of around 16 lakh banking correspondents, and the introduction of the Jansuraksha digital portal for seamless enrolment and claim processing have also been cited as measures to strengthen delivery.
In Jammu and Kashmir, banking officials said similar enrolment drives, local camps and last-mile banking correspondents have helped expand coverage in rural and remote areas, improving access to formal insurance for households that previously had little or no protection.
Officials said claims arising in the Union Territory are being processed in line with national norms, with settlements completed within the prescribed timelines, ensuring that beneficiary families receive the insured amount without delay. With enrolment and renewals continuing to rise, the scheme has emerged as a key social security net for thousands of households across Jammu and Kashmir.
