Summary:

Pradhan Mantri Suraksha Bima Yojana (PMSBY), launched in 2015, is key to India’s universal social security goals. It offers Rs. 2 lakh accident insurance for death or full disability and Rs. 1 lakh for partial disability at an annual premium of Rs. 20. With over 44 crore enrolments and 1.35 lakh claims settled, Rs. 2,700 crore was paid out in FY25. Jan Dhan auto-debit enables easy enrolment.

The National Insurance Company (NIC) covers 17.04 crore individuals, about 38% of total PMSBY enrolments, settling 55,000 claims worth Rs. 1,000 crore. Beneficiaries like Meena Singh, Rani Kumari, and Riya Das show PMSBY’s vital support. Early challenges of awareness and claims were addressed by the Jan Suraksha Portal and digital tools. With plans to raise coverage and boost awareness, PMSBY continues to promote affordable, inclusive social security for India’s underserved.

Source: IBEF 

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