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Jan Suraksha Scheme completes seventh Anniversary

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Published By:
Peeyush Ghalot
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Published On:
10-05-2022

The Indian government's three Jan Suraksha schemes, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), and Atal Pension Yojana (APY), have now completed seven years of providing social security with the commitment of recognising the need to protect human life from unforeseeable risks and economic uncertainty. Prime Minister Narendra Modi introduced PMJJBY, PMSBY, and APY on May 9, 2015 in Kolkata, West Bengal.

One of the key goals of the Hon'ble Prime Minister's National Mission for Financial Inclusion, unveiled on August 15, 2014, was to extend insurance and pension coverage to provide much-needed financial stability to the impoverished and marginalised sections of society through cheap products. Three Jan Suraksha initiatives have made insurance and pensions affordable to the common man." The government introduced two insurance programmes, the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY), as well as the Atal Pension Yojana, to ensure that people in the unorganised sector of the country are financially secure. FM Nirmala Sitharaman provided a summary of the PMJJBY's welfare packages for the needy. For less than 1 rupee per day, the poorest of the poor can receive a life insurance policy worth Rs 2 lakh and an accident insurance policy worth Rs 2 lakh for less than 1 rupee per month. All nationals of the country between the ages of 18 and 40 can sign up to earn a pension after reaching the age of 60 by paying a monthly minimum of Rs 42.

Reference: - https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1823754