99.94% claim settlement, zero to 17 days payout: Govt shares PM Jeevan Jyoti Bima Yojana data

The claim settlement ratio under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) stands at 99.94% since inception, with the average time taken to settle claims ranging between less than a day and 17 days, the government informed the Parliament on Monday.

In a written reply in Lok Sabha, Finance Minister Nirmala Sitharaman said the average claim settlement time varies across insurers and is in the range of 0.61 days to 17 days, as per data from insurance sector regulator Insurance Regulatory and Development Authority of India (IRDAI).

As of January 7, 2026, a cumulative 10,57,222 claims had been received under the low-cost life insurance scheme, of which 10,23,789 claims were settled, while 32,799 claims were rejected, resulting in a claim settlement ratio of 99.94 per cent, the minister said.

The scheme, which provides life insurance cover to subscribers at a nominal annual premium, has seen a steady rise in coverage over the years. The total number of beneficiaries covered under PMJJBY increased from 103.48 million as of May 2021 to 263.15 million as on January 7, 2026, according to official data.

However, the government acknowledged that a significant number of policies lapse every year due to non-availability of sufficient bank balance at the time of auto-debit of premium.

Responding to a question on steps taken to reduce policy lapses and improve claim settlement efficiency, the minister said the government has undertaken multiple measures, including nationwide financial inclusion saturation campaigns, strengthening last-mile delivery through banking correspondents, and digitising enrolment and claims via the Jansuraksha portal.

She said State Level Bankers’ Committees and Union Territory Level Bankers’ Committees are coordinating efforts among banks, government agencies and insurers to enhance scheme coverage at the state level.

The minister said the Jansuraksha Portal has been launched to provide end-to-end digital enrolment and claim services for PMJJBY and PMSBY, with all public sector banks, regional rural banks and insurers onboarded.