PMSBY and APY have successfully completed 7 years today...
The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMSBY), and Atal Pension Yojana (APY) welfare schemes have provided citizens with affordable insurance and security over the past seven years.
PMSBY and APY
Prime Minister Narendra Modi introduced PMSBY, and APY on May 9, 2015 in Kolkata, West Bengal along with PMJJBY.
May 9th
The social security schemes are committed to the citizens' welfare, acknowledging the necessity to protect human life from unexpected risks/losses and financial instabilities.
Social security scheme
In 7 years PMSBY has enrolled around 28.37 crore citizens and APY got over 4 million subscribers.
Scheme: PMSBY is a yet another accidental insurance scheme that is renewable for each year but provides coverage for accidental death or disability.
PMSBY
Benefits: Rs.2 lakh accidental death and disability cover (Rs.1 lakh in case of partial disability) for death or disability caused by an accident.
PMSBY
Achievements: As of April 27, 2012, more than 28.37 crore people had enrolled in the scheme, with Rs. 1,930 crore being paid out for 97,227 claims.
PMSBY
Scheme: The Atal Pension Yojana (APY) was launched to create a universal social security system for all Indians, especially the poor, the under-privileged and the workers in the unorganised sector.
Atal Pension Yojana
Benefits: Subscribers would receive the guaranteed minimum monthly pension of Rs. 1000 or Rs. 2000 or Rs. 3000 or Rs. 4000 or Rs. 5000 at the age of 60 years, based on the contributions made by the subscriber after joining the scheme.