How to Cancel Premium for PMJJBY & PMSBY 2025? Easy SBI PMJJBY PMSBY Cancellation Process and PMJJBY PMSBY cancellation Letter

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Cancel Premium for PMJJBY and  PMSBY | SBI PMJJBY PMSBY Cancellation 2025

How to Cancel Premium for PMJJBY & PMSBY

PMJJBY full form is Pradhan Mantri Jeevan Jyoti Bima Yojana. It is a government life insurance scheme that gives money to the family if the insured person dies.

PMSBY full form is Pradhan Mantri Suraksha Bima Yojana. It is a government accident insurance scheme that gives money in case of death or disability due to an accident.

Pradhan Mantri Suraksha Bima Yojana (PMSBY)

PMSBY Scheme is available for people in the age group 18 to 70 years having a bank account; these people need to give their permission to join or enable auto-debit on or before 31st May for the coverage period stretching from 1st June to 31st May. This is an annual renewal scheme. An Aadhaar card will be used as the primary KYC for the bank account. It is advised to keep a record of all transactions related to the scheme for future reference.

The risk coverage under the PMSBY scheme

  • Rs 2 lakh for accidental death or full disability.
  • Rs. 1 lakh for partial disability due to accident.

The premium of Rs. 12 per annum will be deducted from the bank account through the ‘auto-debit facility in one installment every year. This scheme is offered by Public Sector General Insurance Companies or any other similar General Insurance Company willing to offer the product with similar terms, with necessary approvals and tie-up with banks for this purpose.
Pradhan Mantri Suraksha Bima Yojana (PMSBY)

Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY)

The PMJJBY scheme is available for people in the age group 18 to 50 years with an active bank account. These people need to give their permission to join/enable auto-debit. An Aadhaar card will be used as the primary KYC for the bank account. The life cover will be Rs. 2 lakhs for the one-year period stretching from 1st June to 31st May. This will be renewable.

The Risk coverage under the PMJJBY scheme is –

  • Rs. 2 Lakh in case of death of the insured person, due to any reason.

The premium will be Rs. 330 per annum, and this will be auto-debited in one installment from the bank account. The person will have a choice to subscribe under the scheme on or before 31st May of every year coverage period. The scheme will be offered by Life Insurance Corporation and all other life insurance companies that are willing to offer the product on similar terms, with necessary approvals and a tie-up with banks for this purpose.

Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY)

Update on PMJJBY & PMSBY

 The government had revised  the  Premium for insurance schemes from June 1, 2022 – Check new rates


The government had revised premium rates of PMJJBY and PMSBY ( Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana, respectively).

The revised rates are given below-

  • For PMJJBY, the premium has been increased from Rs. 330 to Rs. 436
  • For PMSBY, the premium increase is from Rs. 12 to Rs. 20.

The premium rates have been revised by considering the premium of Rs 1.25 per day for both schemes.

How to cancel Premium for PMJJBY & PMSBY?

1st Method – Easy SBI PMJJBY PMSBY Cancellation

You need to visit the bank’s branch and ask them to cancel the auto-debit from your savings account. Be sure to follow up properly with the bank officers, as these requests are often not handled well, and we end up paying the premium again every year. Getting a written confirmation can help avoid any issues later.

Application Format to Cancel PMJJBY and PMSBY in English

If you wish to discontinue your enrollment in the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY), you can submit a written application to your bank for a PMJJBY and PMSBY cancellation letter in English :

To
The Branch Manager
[Your Bank’s Name]
[Branch Address]

Date: [DD/MM/YYYY]

Subject: Request for Cancellation of PMJJBY and PMSBY

Respected Sir/Madam,

I am [Your Full Name], an account holder at your branch with account number [Your Account Number]. I had enrolled in the following government insurance schemes:

  1. PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana)

  2. PMSBY (Pradhan Mantri Suraksha Bima Yojana)

I would like to request the cancellation of my participation in both the above schemes with immediate effect. Kindly stop any future premium deductions from my account.

My details are as follows:

  • Account Holder Name: [Your Name]

  • Account Number: [Your Account Number]

  • Registered Mobile Number: [Your Mobile Number]

  • Date of Birth: [Your Date of Birth]

I request that you take the necessary action and confirm the cancellation.

Thank you.

Sincerely,
[Your Signature]
[Your Name]
[Contact Number]

पीएमजेजेबीवाई और पीएमएसबीवाई योजना रद्द करने के लिए आवेदन पत्र प्रारूप

यदि आप प्रधानमंत्री जीवन ज्योति बीमा योजना (PMJJBY) और प्रधानमंत्री सुरक्षा बीमा योजना (PMSBY) से नामांकन रद्द करना चाहते हैं, तो नीचे दिया गया आवेदन पत्र बैंक में जमा करके प्रक्रिया पूरी कर सकते हैं:

प्रति
शाखा प्रबंधक
[बैंक का नाम]
[शाखा का पता]

दिनांक: [DD/MM/YYYY]

विषय: पीएमजेजेबीवाई और पीएमएसबीवाई योजना रद्द करने हेतु आवेदन

महोदय/महोदया,

मैं [आपका पूरा नाम], आपके बैंक का एक खाताधारक हूं, जिसका खाता संख्या [आपका खाता नंबर] है। मैंने निम्नलिखित सरकारी बीमा योजनाओं में नामांकन कराया था:

  1. प्रधानमंत्री जीवन ज्योति बीमा योजना (PMJJBY)

  2. प्रधानमंत्री सुरक्षा बीमा योजना (PMSBY)

मैं अब इन दोनों योजनाओं से नाम हटवाना चाहता/चाहती हूं। कृपया मेरा नामांकन रद्द करें और भविष्य में मेरे खाते से कोई भी प्रीमियम कटौती न करें।

मेरी विवरण निम्नलिखित है:

  • खाताधारक का नाम: [आपका नाम]

  • खाता संख्या: [आपका खाता नंबर]

  • पंजीकृत मोबाइल नंबर: [आपका मोबाइल नंबर]

  • जन्म तिथि: [आपकी जन्म तिथि]

कृपया मेरी अनुरोध पर शीघ्र कार्रवाई करें और रद्दीकरण की पुष्टि प्रदान करें।

धन्यवाद।

भवदीय,
[आपका हस्ताक्षर]
[आपका नाम]
[संपर्क नंबर]

2nd Method –  SBI PMJJBY PMSBY Cancellation

Stop funding or using the savings account that is linked to the PMJJBY or PMSBY. No money in the savings account, so no auto-debit, so no premium payments.

To sum up, PMJJBY and PMSBY are useful schemes, but if you feel you don’t need them anymore, you can easily cancel them by giving a written request to your bank. Make sure to keep a copy of your application and ask the bank for confirmation after cancellation.

61 thoughts on “How to Cancel Premium for PMJJBY & PMSBY 2025? Easy SBI PMJJBY PMSBY Cancellation Process and PMJJBY PMSBY cancellation Letter”

  25. I didn’t active pmjjby but this year on may they have debited rs 330 and again on June they ve debited Rs436 through sbi account so please deactivate my pmjjby insurance and return my money by the earliest. Thanks.

    Reply

  35. I don’t want such scheme or policy. So i want to cancel the policy plzz help me to get the policy cancel it’s a request

    Reply

    • Dear Reader,
      Thank you for showing interest in our post. Actually there is no way to stop this services through online platform. There is only two ways which is written in the post.
      Please keep visiting India Schemes for more updates.

      Reply

  47. I am also not interested in PMSBY plz deactivate this from my bank account i am not interested in this policies

    Reply

  51. Though we go to bank and request them to cancel this pmjjby/pmsby policy, they aren’t responding good. Instead they just say that, the site for cancelling this policy is not working.

    Reply

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