Finance Minister Nirmala Sitharaman on Monday stated the three Jan Suraksha schemes — Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana and Atal Pension Yojana — have introduced insurance coverage and pension inside the attain of the frequent man.
The quantity of people that have enrolled and benefitted from the above schemes during the last seven years is an affidavit to their success, she stated on the event of seventh anniversary of the launch of the three social safety schemes.
These schemes have been launched by Prime Minister Narendra Modi on May 9, 2015.
“Under PMJJBY, a cumulative number of 12.76 crore persons have enrolled since inception for life cover and families of 5,76,121 persons have received claims for Rs 11,522 crore under the scheme. The scheme has proved extremely useful for low-income households during pandemic as in FY21, almost 50 per cent claims paid out were due to COVID-19 deaths,” she stated.
Major modifications have been introduced within the declare settlement course of for fast and simple settlement of claims through the pandemic and these modifications introduced in for straightforward settlement of claims are nonetheless persevering with.
Since the start of the pandemic i.e., April 1, 2020 until February 23, 2022, complete 2.10 lakh claims amounting to Rs 4,194.28 crore have been paid with a settlement price of 99.72 per cent, she stated.
The Finance Minister stated that in an analogous spirit, 28.37 crore people have enrolled for accident cowl for the reason that launch of Pradhan Mantri Suraksha Bima Yojana (PMSBY) and an quantity of Rs 1,930 crore has been paid in direction of 97,227 claims.
While Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) gives life insurance coverage cowl of Rs 2 lakh, PMSBY gives unintentional loss of life or complete everlasting incapacity cowl of Rs 2 lakh and everlasting partial incapacity cowl of Rs 1 lakh.
“Today, even the poorest of the poor can have a life insurance cover for Rs 2 lakh at less than 1 rupee a day under PMJJBY and an accident insurance of Rs 2 lakh at less than 1 rupee a month under PMSBY. All the citizens of the country in the age group 18 to 40 can subscribe for receiving pension after the age of 60 years by paying a minimum amount of Rs 42 per month,” she stated.
With regard to Atal Pension Yojana (APY), she stated, greater than 4 crore individuals have already subscribed to the pension scheme.
On the event, Minister of State for Finance Bhagwat Ok Karad urged banks and insurance coverage firms to proceed working with similar zeal and dedication until the final individual is roofed.
“Going ahead, as announced by the PM in this regard on his last Independence Day address, it will be our endeavour to ensure that every eligible person in the country is covered under these social security schemes for insurance and pension,” he stated.
Source: www.financialexpress.com”