Government through the Budget Speech announced three ambitious Social Security Schemes pertaining to the Insurance and Pension Sectors, namely Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and an the Atal Pension Yojana (APY) to move towards creating a universal social security system, targeted especially for the poor and the under-privileged. Hon’ble Prime Minister launched PMJJBY and PMSBY schemes nationally in Kolkata on 9th May, 2015.
Salient Features of Pradhan Mantri Suraksha Bima Yojana (PMSBY)
PMSBY is a government-backed accident insurance scheme in India.
- Eligibility: Age group 18 to 70 years with a bank account
- Benefit: Rs.2 lakhs is payable on a subscriber’s death due to any reason.
- Premium: The premium payable is Rs.330/- per annum per subscriber.
- Period: One year period stretching from 1st June to 31st May.
- The scheme would be offered / administered through LIC and other Life Insurance companies.
Pradhan Mantri Suraksha Bima Yojana (PMSBY) in Rajasthan
- In the State under the PMBSY, a total 57.33 lakh persons have been enrolled upto 31 March, 2019.