Three Jan Suraksha Schemes
Kartavya Desk Staff
Source: PIB
Context: The three Jan Suraksha Schemes—PMJJBY, PMSBY, and APY—have completed 10 years of providing life insurance, accident insurance, and pension support to India’s underprivileged.
About Three Jan Suraksha Schemes:
• Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
• Launched: 9th May 2015 Aim: To provide life insurance coverage in case of death from any cause.
• Launched: 9th May 2015
• Aim: To provide life insurance coverage in case of death from any cause.
• Key Features:
• Eligibility: Individuals aged 18–50 years with a bank or post office account. Coverage: ₹2 lakh payable on death from any cause. Premium: ₹436 per annum. Duration: 1-year cover from 1st June to 31st May (auto-renewable). Implementing Agencies: LIC and other approved life insurers via banks/post offices.
• Eligibility: Individuals aged 18–50 years with a bank or post office account. Coverage: ₹2 lakh payable on death from any cause. Premium: ₹436 per annum. Duration: 1-year cover from 1st June to 31st May (auto-renewable). Implementing Agencies: LIC and other approved life insurers via banks/post offices.
• Eligibility: Individuals aged 18–50 years with a bank or post office account.
• Coverage: ₹2 lakh payable on death from any cause.
• Premium: ₹436 per annum.
• Duration: 1-year cover from 1st June to 31st May (auto-renewable).
• Implementing Agencies: LIC and other approved life insurers via banks/post offices.
• Pradhan Mantri Suraksha Bima Yojana (PMSBY)
• Launched: 9th May 2015 Aim: To offer affordable accident insurance for death or disability.
• Launched: 9th May 2015
• Aim: To offer affordable accident insurance for death or disability.
• Key Features:
• Eligibility: Individuals aged 18–70 years with a bank or post office account. Coverage:
• Eligibility: Individuals aged 18–70 years with a bank or post office account. Coverage:
• Eligibility: Individuals aged 18–70 years with a bank or post office account.
• Coverage:
• ₹2 lakh for death or total disability
• ₹1 lakh for partial disability
• Premium: ₹20 per annum. Duration: 1-year cover from 1st June to 31st May (auto-renewable). Implementing Agencies: Public and private general insurance companies via banks/post offices.
• Premium: ₹20 per annum. Duration: 1-year cover from 1st June to 31st May (auto-renewable). Implementing Agencies: Public and private general insurance companies via banks/post offices.
• Premium: ₹20 per annum.
• Duration: 1-year cover from 1st June to 31st May (auto-renewable).
• Implementing Agencies: Public and private general insurance companies via banks/post offices.
• Atal Pension Yojana (APY)
• Launched: 9th May 2015 Aim: To provide guaranteed pension to workers in the unorganised sector.
• Launched: 9th May 2015
• Aim: To provide guaranteed pension to workers in the unorganised sector.
• Key Features:
• Eligibility: Individuals aged 18–40 years, not paying income tax. Pension Benefits: ₹1,000 to ₹5,000 per month after age 60, based on contribution. Contribution Frequency: Monthly, quarterly, or half-yearly. Implementing Agency: PFRDA under the National Pension System (NPS). Premature Death: Spouse can continue contributions till age 60 of the original subscriber.
• Eligibility: Individuals aged 18–40 years, not paying income tax. Pension Benefits: ₹1,000 to ₹5,000 per month after age 60, based on contribution. Contribution Frequency: Monthly, quarterly, or half-yearly. Implementing Agency: PFRDA under the National Pension System (NPS). Premature Death: Spouse can continue contributions till age 60 of the original subscriber.
• Eligibility: Individuals aged 18–40 years, not paying income tax.
• Pension Benefits: ₹1,000 to ₹5,000 per month after age 60, based on contribution.
• Contribution Frequency: Monthly, quarterly, or half-yearly.
• Implementing Agency: PFRDA under the National Pension System (NPS).
• Premature Death: Spouse can continue contributions till age 60 of the original subscriber.