Jan Suraksha brings insurance, pension to common man: FM
MAJOR CHANGES WERE MADE IN THE PROCESS FOR QUICK AND EASY SETTLEMENT OF CLAIMS
The three Jan Suraksha schemes, the Pradhan Mantri Jeevan Jyoti Bima Yojana, the Pradhan Mantri Suraksha Bima Yojana, and the Atal Pension Yojana, have brought insurance and pension within the reach of the common man, Union finance minister Nirmala Sitharaman said on Monday.
The number of people who have enrolled and benefitted from these schemes over the last seven years is a testimony to their success, she said on the 7th anniversary of the launch of the social security schemes, which were launched by Prime Minister Narendra Modi on May 9, 2015.
“Under PMJJBY, a cumulative number of 127.6 million persons have enrolled since inception for life cover and families of 5,76,121 persons have received claims of ₹11,522 crore under the scheme. The scheme has proved extremely useful for low-income households during pandemic as in FY21, almost 50% claims paid out were due to Covid-19 deaths,” she said.
Major changes were made in the claim settlement process for quick and easy settlement of claims during the pandemic and these changes are still in effect.
Since the beginning of the pandemic on April 1, 2020, till February 23, 2022, 2.10 lakh claims amounting to ₹4,194.28 crore were paid with a settlement rate of 99.72%, she said.
The finance minister said in a similar spirit, 283.7 million individuals have enrolled for accident cover since the launch of Pradhan Mantri Suraksha Bima Yojana ( PMSBY) and ₹ 1,930 crore has been paid towards 97,227 claims.
While Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) offers life insurance cover of ₹2 lakh, PMSBY offers accidental death or total permanent disability cover of ₹2 lakh and permanent partial disability cover of ₹1 lakh.
“Today, even the poorest of the poor can have a life insurance cover of ₹2 lakh at less than ₹1 a day under PMJJBY and an accident insurance of ₹2 lakh at less than ₹ 1 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 ₹42 per month,” she said. With regard to Atal Pension Yojana, she said, more than 0.4 million people have already subscribed to the pension scheme.
Minister of state for finance Bhagwat K Karad urged banks and insurance companies to continue working with same zeal and dedication till the last person is covered.
“As announced by the Prime Minister 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 said.