Three Jan Suraksha Schemes

Three Jan Suraksha Schemes: Recently, India’s flagship social security schemes Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY) completed 10 years of providing affordable financial protection and empowering citizens through enhanced social security coverage.

• About PMJJBY : Provides life insurance coverage for death due to any cause, at a premium of less than Rs. 2 per day.

o Key Feature: The scheme offers a one-year renewable cover and is administered through LIC and other insurance companies, with tie-ups with banks and post offices for enrollment.

o Eligibility: Available to bank or post office account holders aged 18-50, who provide consent for auto-debit.

o Premium: Rs. 436 annually, deducted through auto-debit.

o Benefits: Rs. 2 lakh in case of death due to any cause.

o Achievements: As of April 2025, more than 23.63 crore enrollments have been recorded, with claims totaling Rs. 18,397.92 crore.

• About PMSBY: Offers accidental death and disability coverage for individuals aged 18-70, at a premium of less than Rs. 2 per month.

o Key Feature: This one-year renewable cover is offered through public sector and private insurance companies, with enrollments managed by banks and post offices.

o Eligibility: Available to bank or post office account holders aged 18-70, who opt for auto-debit.

o Premium: Rs. 20 annually, deducted via auto-debit.

o Benefits: Rs. 2 lakh for accidental death or total disability and Rs. 1 lakh for partial disability.

o Achievements: As of April 2025, over 51.06 crore enrollments and Rs. 3,121.02 crore in claims have been recorded.

• About APY : Aims to provide a universal social security system, focusing on the underprivileged and unorganized sector workers.

o Eligibility: Open to bank account holders aged 18-40, who are not taxpayers.

o Benefits: Guaranteed monthly pension ranging from Rs. 1,000 to Rs. 5,000 after 60, based on contributions made.

o Disbursement: The pension continues to the spouse after the subscriber’s death, with the accumulated corpus returned to the nominee.

o Progress: As of April 2025, over 7.66 crore individuals have enrolled, with women comprising 47% of the total subscribers.