Government Insurance Schemes: The public security schemes of the Central Government have today become a strong support of financial security for crores of people of the country. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY), launched by Prime Minister Narendra Modi in 2015, have provided relief to lakhs of families in difficult times in the last 11 years. Finance Minister Nirmala Sitharaman said that under these two schemes, insurance claims worth about ₹ 25,160 crore have been settled so far. This includes claims worth ₹21,500 crore under PMJJBY and about ₹3,660 crore under PMSBY.
According to the government, so far more than 27 crore people have enrolled in PMJJBY, while more than 58 crore people have joined PMSBY. At the same time, more than 9 crore people have also participated in Atal Pension Yojana (APY). The objective of these schemes is to provide insurance and pension facilities to the poor, middle class and unorganized sector people at low cost.
Benefit of life insurance for just ₹ 436
Under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), any person aged between 18 to 50 years can get a life insurance cover of ₹ 2 lakh by paying an annual premium of ₹ 436. If the insured dies due to any reason, his family gets a financial assistance of ₹2 lakh. According to government data, this scheme has so far provided assistance to more than 10.7 lakh families.
Accident insurance for ₹20
Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a very low premium scheme. In this, accident insurance cover is available by paying only ₹ 20 annually. In case of accidental death or total disability, assistance of ₹ 2 lakh is given and in case of partial disability, ₹ 1 lakh is given. Under this scheme, claims of more than 1.84 lakh families have been paid so far.
Process made easier through online portal
Minister of State for Finance Pankaj Chaudhary said that with the launch of the online Jan Suraksha Portal, the need for people to go to banks or post offices has now reduced. People can enroll in these schemes sitting at home and the claim process has also become faster than before.
Big step towards economic security
Experts believe that these plans, which provide great protection at low premiums, are no less than a boon for the common people. Especially poor and rural families have got great support from this. In the coming times, these schemes can play an important role in strengthening social security in the country.
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