The three Jansuraksha schemes have completed 10 years of providing social security cover today. 

• The three schemes-  Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY) were launched by Prime Minister Shri Narendra Modi on 9th May 2015.

About Pradhan Mantri Suraksha Bima Yojana (PMSBY)

• Launched in May 2015, PMSBY is an annual accident insurance scheme that renews automatically each year. 
  • It provides financial protection against accidental death or disability at a highly affordable premium.
• Implementing Bodies:  This scheme is implemented through Public Sector General Insurance Companies (PSGICs) or other approved insurers in collaboration with participating banks and post offices.
• Who Can Join? 
  • Any individual aged 18 to 70 years holding a savings account in a bank or post office is eligible to enroll, provided they consent to auto-debit of the premium.
• Coverage Details:
  • Insurance Amount: ₹2 lakh for accidental death or total permanent disability
  • ₹1 lakh in case of partial permanent disability
  • Annual Premium: ₹20, automatically deducted from the linked account
• Key Achievements (April 2025):
  • Enrolments have surpassed 51.06 crore
  • A total of 1,57,155 claims have been honored
  • Over ₹3,121.02 crore disbursed as claims
  • 23.87 crore women enrolled
  • 17.12 crore accounts linked under PM Jan Dhan Yojana (PMJDY)

About Pradhan Mantri Suraksha Bima Yojana (PMSBY)

• PMSBY is a government-backed accidental insurance initiative that ensures yearly renewable coverage for individuals who suffer disability or death due to accidents. 
  • Designed to promote financial inclusion, it delivers affordable risk protection to all eligible citizens.
• Implementing Bodies: The scheme is operated by general insurance providers, predominantly Public Sector General Insurance Companies (PSGICs), in association with banks and post offices that serve as distribution platforms.
• Eligibility Criteria:  Anyone aged between 18 and 70 years, holding a bank or post office savings account, can register under PMSBY by agreeing to the auto-debit feature for premium payment.
• Insurance Coverage & Premium:
  • Coverage Amount: ₹2,00,000 for accidental death or full permanent disability
    • ₹1,00,000 for partial permanent disability
  • Premium: ₹20 per annum, deducted directly from the bank/post office account
• Key Achievements (April 2025):
  • Total subscribers: Over 51.06 crore individuals
  • Claim settlements: 1,57,155 beneficiaries received compensation
  • Total disbursed: ₹3,121.02 crore paid to insured individuals or their families
  • Women participants: Approx. 23.87 crore
  • Linked PMJDY accounts: About 17.12 crore

About Atal Pension Yojana (APY)

• Launched with the aim of creating a universal social security net, the Atal Pension Yojana focuses on providing a guaranteed monthly pension to workers in the unorganised sector after retirement. 
  • It promotes long-term saving habits among low-income individuals who are typically outside the purview of formal pension systems.
• Implementing Bodies: The scheme is regulated and managed by the Pension Fund Regulatory and Development Authority (PFRDA) and functions under the structure of the National Pension System (NPS).
• Who Can Enroll?
  • Age limit: 18 to 40 year
  • Must have a savings account in a bank or post office
  • Applicable only to non-income tax payers
  • Contributions are auto-debited based on chosen frequency (monthly/quarterly/half-yearly)
• Pension Options: Upon reaching 60 years of age, subscribers receive a fixed monthly pension of ₹1,000, ₹2,000, ₹3,000, ₹4,000, or ₹5,000, depending on their contribution and age at entry.
• Post-Retirement Benefits:
  • Pension continues to the spouse after the subscriber’s death
  • After the spouse’s demise, the accumulated corpus is transferred to the nominee
  • In case of premature death, the spouse can opt to continue the scheme or exit with benefits
• Exit Policy: Voluntary exit is allowed, subject to the deduction of Government co-contribution and interest thereon.
• Key Achievements (April 2025):
  • Total subscribers: Over 7.66 crore individuals
  • Women participants: Approximately 47% of total enrolments

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