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( 09 May 2022)
PMJJBY, PMSBY, and APY complete seven years of providing social security net

Pradhan Mantri Suraksha Bima Yojana (PMJJBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMSBY), and Atal Pension Yojana (APY) today complete seven years of providing social security net. The schemes were launched by Prime Minister Narendra Modi on 9th May 2015 in Kolkata, West Bengal. These schemes have been successful in providing affordable insurance and security to people.

AIR correspondent reports that these three social security schemes are dedicated to the welfare of the citizens, recognizing the need for securing human life from unforeseen risks or losses and financial uncertainties. In order to ensure that the people from the unorganized section of the country are financially secure, the Government launched two insurance schemes – Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana and introduced Atal Pension Yojana to cover the exigencies in the old age.

While the Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana provide access to low-cost life or accidental insurance cover to the people, the Atal Pension Yojana provides an opportunity for saving in the present to get a regular pension in old age. As of 27th of last month, the cumulative enrolments under the Pradhan Mantri Jeevan Jyoti Bima Yojana have been more than 12.76 crore and an amount of 11 thousand 522 crore has been paid for over 5 lakh 76 thousand claims.

The cumulative enrolments under the Pradhan Mantri Suraksha Bima Yojana have been more than 28.37 crore and an amount of one thousand 930 crore rupees has been paid for over 97 thousand claims. More than 4 crore individuals have subscribed to Atal Pension Yojana.