Celebrating 11 Years of Jan Suraksha Schemes: A Milestone in Financial Inclusion

Significant Milestone in Social Security

New Delhi: The government announced that three Jan Suraksha Schemes, which have been operational for 11 years, have achieved a remarkable 94.5 crore cumulative enrolments.

Initiated on May 9, 2015, by Prime Minister Narendra Modi, these schemes—Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), and Atal Pension Yojana (APY)—were designed to provide affordable financial security, especially to marginalized and vulnerable communities.

As of April 30, enrolments under PMJJBY have surpassed 27.43 crore, while PMSBY has seen over 58.09 crore participants, and APY has attracted more than 9.04 crore individuals.

Finance Minister Nirmala Sitharaman highlighted that these schemes were launched to offer low-cost insurance and pension benefits.

Reflecting on the 11th anniversary of the Jan Suraksha Schemes, Sitharaman reported the enrolment figures: 27.43 crore for PMJJBY, 58.09 crore for PMSBY, and 9.04 crore for APY.

Regarding PMJJBY, the Finance Minister noted that claims exceeding Rs 21,500 crore have been settled for over 10.7 lakh families.

Additionally, PMSBY has settled claims amounting to nearly Rs 3,660 crore for more than 1.84 lakh families.

Sitharaman expressed gratitude to all stakeholders, including bank and insurance company personnel, for their commitment to the success of these schemes.

Union Minister of State for Finance, Pankaj Chaudhary, emphasized that the primary goal of these initiatives is to provide insurance and pension support to the most impoverished.

He also mentioned that a significant aspect of these schemes is the digitization and simplification of the enrolment and claims processes. The introduction of the online Jan Suraksha Portal allows citizens to enroll without needing to visit banks or post offices. This digital approach has expedited claims processing, ensuring timely assistance to grieving families during critical times.

These flagship initiatives aim to enhance the insurance and pension framework, protecting citizens from life's uncertainties and promoting long-term financial stability.