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Contents
What is the News?
Pradhan Mantri Suraksha Bima Yojana(PMJJBY), Pradhan Mantri Jeevan Jyoti Bima Yojana(PMSBY) and Atal Pension Yojana(APY) has completed 7 years of providing social security benefits.
What is Pradhan Mantri Suraksha Bima Yojana(PMJJBY)?
What is Pradhan Mantri Jeevan Jyoti Bima Yojana(PMSBY)?
What is Atal Pension Yojana(APY)?
What is the significance of these schemes?
One of the main objectives of the National Mission for Financial Inclusion was to expand the coverage of insurance and pension in order to provide the poor and marginalized sections of the society the much-needed financial security through affordable products.
These three Jan Suraksha schemes have brought the insurance and pension within the reach of the common man. For instance, 28.37 crore people have enrolled for accident cover since the launch of PMSBY. Similarly, More than 4 crore people have already subscribed to the APY scheme.
The number of people who have enrolled and benefitted from the above schemes over the last seven years is a testimony to their success.
Hence, these low-cost insurance schemes and the guaranteed pension scheme are ensuring that financial security which was available to a select few earlier is now reaching the last person in the society.
Source: The post is based on the article “Pradhan Mantri Suraksha Bima Yojana(PMJJBY), Pradhan Mantri Jeevan Jyoti Bima Yojana(PMSBY) and Atal Pension Yojana(APY) complete 7 years of providing social security net” published in PIB on 9th May 2022
