Get it on Google Play

PMJJBY, PMSBY And APY Complete 7 Years

PMJJBY, PMSBY And APY Complete 7 Years:

Social security schemes Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY) have completed seven years of their launch.

  • The schemes were launched by Prime Minister Narendra Modi on May 9, 2015.

PMJJBY:

  • It is a one-year life insurance scheme renewable from year to year offering coverage for death due to any reason.
  • Eligibility: Individuals in the age group of 18-50 years having a savings bank or a post office account are entitled to enroll under the scheme.
  • Life cover of Rs 2 lakh in case of death due to any reason against a premium of Rs 330 per annum.
  • Achievements: 12.76 crore enrollments.

PMSBY:

  • It is a one-year accidental insurance scheme renewable from year to year offering coverage for death or disability due to accident.
  • Eligibility: Individuals in the age group of 18-70 years having a savings bank or a post office account are entitled to enroll under the scheme.
  • Accidental death cum disability cover of Rs.2 lakh (Rs.1 lakh in case of partial disability) for death or disability due to an accident.
  • Achievements: 28.37 crore enrollments.

APY:

  • It seeks to provide financial security and cover future exigencies for the people in the unorganized sector.
  • APY is administered by Pension Fund Regulatory and Development Authority (PFRDA) under the overall administrative and institutional architecture of the National Pension System (NPS).
  • Eligibility: Open to all bank account holders in the age group of 18 to 40 years.
  • Achievements: 4 Crore registrations.

Leave a Reply

Your email address will not be published. Required fields are marked *