Insurance Scheme Claims Under Jan Suraksha Mission
For a long time, majority of the population of India was not included in the financial developments of the country. Initiative was taken by the Government of India to empower this section of the population and enable them to use financial services at affordable rates. A few schemes were introduced recently to help bring about financial inclusion on a large scale.
Schemes Under Jan Suraksha
- Pradhan Mantri Jeevan Jyoti Bima Yojana Any person between the age of 18 years and 50 years can apply for life insurance worth Rs.2 lakhs. The premium amount required is Rs.330 per annum. Applicants need a bank account to subscribe for this insurance scheme. The premium amount would be deducted from this account. This scheme is a 1-year policy which is renewable every year.
- Pradhan Mantri Suraksha Bima YojanaAny person between the age of 18 years and 70 years can subscribe for accident insurance worth Rs.2 lakhs. The premium amount is Rs.12 per annum. Subscribers would get a lump sum in the event of any accident. The scheme also covers permanent disablement due to accident. The insurance period is 1st June to 31st May and is renewable every year.
- Atal Pension YojanaThis scheme was designed to ensure a dignified old age for its population. The pension scheme aimed at providing the population a means of securing a decent income during their retirement. The monthly contribution to this scheme depends on the age of the applicant and the pension amount they want to get during their old age. Pension amounts range between Rs.1,000 and Rs.5,000 per month. The estimated premiums range between Rs.210 and Rs.1,454 per month.
Claims Under the Jan Suraksha Mission
Pradhan Mantri Jeevan Jyoti Bima Yojana
Claims Received01.08.201562601.09.20151841Claims Disbursed01.08.201532501.09.20151043Under this scheme, the number of claims received had increased by 591 between 1st July and 1st August 2015. By 1st September, the claims received had increased by 1215. For the claims that were paid out, claims increased by 306 between 1st July and 1st August 2015. By 1st September, the claims had increased by 718.Pradhan Mantri Suraksha Bima Yojana
Claims Received01.08.201515001.09.2015398Claims Disbursed01.08.20154001.09.2015211Under this scheme, the claims received increased by 248 by 1st September. During the period of 1st July to 1st August, claims had increased by only 141. The claims disbursed increased by 171 between 1st August and 1st September. In the previous month, between 1st July and 1st August, the claims disbursed increased by 36.The information on the claims received and disbursed under these schemes is based on the data provided by insurance companies and banks to the Jan Suraksha Mission Office. Based on the data, we can see that the schemes have been working in favor of the citizens. Many citizens who would've otherwise not been able to access life insurance, accident insurance and pension schemes now have an easy avenue to be a part of the financial sector.
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