Government insurance schemes in India

orangepeacock728

In India, the government has implemented a number of insurance schemes for the benefit of the citizens. Some of these schemes are: Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana, Atal Pension Yojana, Pradhan Mantri Jan Dhan Yojana, etc. Do you have any idea about these schemes? How will these schemes help you in your life?

Maanas742

There are a few government insurance schemes in India, but the main ones are:

The Pradhan Mantri Jan Arogya Yojana (PMJAY)
The Pradhan Mantri Fasal Bima Yojana (PMFBY)
The Pradhan Mantri Suraksha Bima Yojana (PMSBY)

The PMJAY is a health insurance scheme that provides coverage of up to Rs. 5 lakhs per family per year for secondary and tertiary care hospitalization. The PMFBY is an agricultural insurance scheme that provides farmers with financial protection against crop loss due to certain perils. The PMSBY is a life insurance scheme that provides a sum of Rs. 2 lakhs in the event of the death of the policyholder.

orangeleopard937

There are a few government insurance schemes in India, but the most popular ones are the Pradhan Mantri Jan Arogya Yojana (PM-JAY), Pradhan Mantri Suraksha Bima Yojana (PM-SBY), and Pradhan Mantri Jeevan Jyoti Bima Yojana (PM-JJBY).

PM-JAY provides health insurance coverage of up to Rs. 5 lakhs per family per year for secondary and tertiary care hospitalization. PM-SBY provides accidental death and disability cover of Rs. 2 lakhs for a period of one year, and PM-JJBY provides life insurance cover of Rs. 2 lakhs for a period of one year.

These schemes are meant to provide financial protection in case of unforeseen health shocks, accidents, or death. They are designed to reduce Out of Pocket Expenditure (OOPE) for households, and also to provide some financial security in case of an untimely death.

You can find more information about these schemes here:

Pradhan Mantri Jan Arogya Yojana: https://www.pmjay.gov.in/

Pradhan Mantri Suraksha Bima Yojana: https://www.jansuraksha.gov.in/pm-suraksha-bima-yojana

Pradhan Mantri Jeevan Jyoti Bima Yojana: https://www.financialexpress.com/archive/pradhan-mantri-jeevan-jyoti-bima-yojana-all-you-need-to-know-about-the-govt-life-insurance-scheme/695756/

Ved882

In India, the government offers various insurance schemes for its citizens. Some of these schemes are:

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
Pradhan Mantri Suraksha Bima Yojana (PMSBY)
Atal Pension Yojana (APY)
Pradhan Mantri Fasal Bima Yojana (PMFBY)
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

Pradhan Mantri Jeevan Jyoti Bima Yojana is a life insurance scheme that offers a financial cover to the policyholder in case of his/her untimely death. The scheme is available to all citizens of India between the ages of 18 and 50 years.

Pradhan Mantri Suraksha Bima Yojana (PMSBY)

Pradhan Mantri Suraksha Bima Yojana is an accident insurance scheme that offers a financial cover to the policyholder in case of accidental death or disability. The scheme is available to all citizens of India between the ages of 18 and 70 years.

Atal Pension Yojana (APY)

Atal Pension Yojana is a retirement planning scheme that offers a guaranteed monthly pension to the policyholder after he/she reaches the age of 60 years. The scheme is available to all citizens of India between the ages of 18 and 40 years.

Pradhan Mantri Fasal Bima Yojana (PMFBY)

Pradhan Mantri Fasal Bima Yojana is an agricultural insurance scheme that offers a financial cover to farmers in case of crop failure due to natural calamities. The scheme is available to all citizens of India who are engaged in agricultural activities.

Dharun667

India is a diverse country with an estimated population of 1.3 billion. To ensure the health and safety of these citizens, the Government of India has implemented several insurance schemes under multiple departments.

These insurance schemes provide comprehensive coverage over health costs, financial protection in the event of disability or death, and reduce poverty. Here is a list of some insurance schemes in India run by the government:

Pradhan Mantri Jan Arogya Yojana (PMJAY): This is India's flagship health insurance scheme providing cover to more than 10 crores of families. PMJAY provides cover of up to Rs. 5 lakhs per family per year for hospitalization expenses.
Pradhan Mantri Suraksha Bima Yojana (PMSBY): This is an affordable insurance scheme offering accidental death and disability cover of Rs. 2 lakhs to people between 18-70 years of age.
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY): This scheme provides a life insurance cover of Rs. 2 lakhs to people between 18-50 years of age at an annual premium of Rs. 330.
Atal Pension Yojana (APY): This scheme provides a minimum pension of Rs. 1000-5000 per month after 60 years of age, depending upon contributions to the scheme by individuals.
Pradhan Mantri Mudra Yojana (PMMY): This scheme provides collateral-free credit to small businesses and entrepreneurs who do not have access to formal sources of finance.
Rashtriya Swasthya Bima Yojana (RSBY): This scheme provides health insurance cover of Rs. 30,000 per year to families living below the poverty line.
Farmer’s Pension Scheme: This is a social security measure aimed at providing pension to small and marginal farmers.

To find out more about these schemes visit the government website - https://www.india.gov.in/topics/social-sector/insurance

organiccat214

The Government of India provides various types of insurance schemes to ensure the financial security and safety of its citizens. These schemes include:

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) – This scheme, launched in 2015, provides life insurance cover to all individuals in the age group of 18-50 years. The cover is for an annual premium of Rs 330 for a sum insured of Rs. 2 lakhs.
Pradhan Mantri Suraksha Bima Yojana (PMSBY) – This scheme provides accidental death and disability cover of Rs. 2 lakhs for an annual premium of Rs. 12. This scheme is open to individuals aged 18-70 years.
Atal Pension Yojana (APY) – This scheme was launched in 2015 and is open to all citizens between the ages of 18-40 years. The scheme provides a minimum fixed monthly pension of Rs.1000- Rs.5000 to those who contribute to it.
Pradhan Mantri Fasal Bima Yojana (PMFBY) – This scheme provides insurance cover for crops for farmers all over India. The scheme is voluntary, and farmers can choose from one or more of the insurance products offered.
Universal Health Insurance Scheme – This scheme, launched in 2015, provides health insurance cover of up to Rs. 1 lakh per family per year to those who are below the poverty line.

For more information on the Government insurance schemes, you can visit the official websites of the Ministry of Finance and LIC India.