PM Modi Highlights 11 Years of PMJJBY, PMSBY, and Atal Pension Yojana
Prime Minister reviews the significant impact of three major social security schemes launched in 2015.
Source: GNews PM SchemePrime Minister Narendra Modi recently highlighted the successful completion of 11 years for three key social security schemes: Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), and Atal Pension Yojana (APY). These schemes, launched on May 9, 2015, aim to provide affordable insurance and pension coverage to a wide section of the Indian population, especially the unorganised sector. The PM emphasised their role in strengthening social security and financial inclusion across the country, benefiting millions of citizens by offering protection against li
- PMJJBY offers a life insurance cover of Rs 2 lakh for a premium of Rs 436 per annum.
- PMSBY provides an accidental death and disability cover of Rs 2 lakh for a premium of Rs 20 per annum.
- Atal Pension Yojana (APY) allows subscribers to receive a guaranteed minimum pension of Rs 1,000 to Rs 5,000 per month after 60 years of age.
- The schemes were launched on May 9, 2015, from Kolkata, West Bengal.
- These initiatives are part of the government's broader strategy for financial inclusion and social security for all citizens.
A government-backed life insurance scheme in India. It offers a renewable one-year term life cover of Rs 2 lakh for death due to any cause. The scheme is available to people in the age group of 18 to 50 years having a bank account.
A government-backed accident insurance scheme in India. It offers a renewable one-year accidental death and disability cover of Rs 2 lakh. The scheme is available to people in the age group of 18 to 70 years having a bank account.
A government-backed pension scheme in India, primarily aimed at workers in the unorganised sector. It provides a guaranteed minimum pension ranging from Rs 1,000 to Rs 5,000 per month after the age of 60, depending on the contributions made.
Exams frequently test the launch year, target beneficiaries, and key benefits/premium amounts of major government social security schemes like PMJJBY, PMSBY, and APY.
Remember 'Jeevan' for Life (PMJJBY), 'Suraksha' for Safety/Accident (PMSBY), and 'Atal' for Old Age/Pension (APY).