Jan Suraksha Schemes Reach Nearly 940 Million Enrolments in India
Jan Suraksha enrolments near 940 million as govt weighs benefits
The Economic Times
Image: The Economic Times
India's Jan Suraksha schemes, which include life and accident insurance and pension benefits, have enrolled nearly 940 million subscribers since their launch in May 2015. The government is considering revising benefits to enhance support for underserved communities, with significant claims already settled under these programs.
- 01Total enrolments under Jan Suraksha schemes approach 940 million.
- 02Claims settled under the Pradhan Mantri Jeevan Jyoti Bima Yojana exceed ₹21,500 crore.
- 03Digitization of the claims process has improved settlement speed.
- 04Government may revise benefits based on ongoing scenario analysis.
- 05The schemes aim to provide financial protection to vulnerable populations.
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The Indian government's Jan Suraksha schemes, launched in May 2015, have collectively enrolled nearly 940 million subscribers, offering life and accident insurance as well as pension benefits. The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) has seen 274.3 million enrolments, while the Pradhan Mantri Suraksha Bima Yojana (PMSBY) has 580.9 million and the Atal Pension Yojana (APY) has approximately 90.4 million. Finance Minister Nirmala Sitharaman reported that claims exceeding ₹21,500 crore have been settled for over 1.07 million families under PMJJBY, and ₹3,660 crore for more than 184,000 families under PMSBY. The digitization of the claims process has facilitated quicker settlements, providing timely assistance to bereaved families. Additionally, the government is considering potential revisions to the benefits of these schemes based on affordability and cost analyses, aiming to enhance financial protection for underserved communities.
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The Jan Suraksha schemes provide essential financial protection to millions of families, particularly in times of crisis, helping to alleviate the financial burden during bereavement.
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