Pradhan Mantri Jeevan Jyoti Bima Yojana is a government- backed Life Insurance Scheme in India. Pradhan Mantri Jeevan Jyoti Bima Yojana is available to people between 18 and 50 years of age with bank accounts. It has an annual premium of Rs.330. The GST is exempted on Pradhan Mantri Jeevan Jyoti Bima Yojana. This scheme will be linked atso to the bank accounts opened under the Pradhan Mantri Jan Dhan Yojana scheme. The amount will be automatically debited from the account. Insured's family members will receive a sum insured of Rs. 2 lac after insured' s death.