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Claims worth Rs 25,160 cr settled under PM life insurance schemes: FM

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Finance Minister Nirmala Sitharaman on Saturday said claims worth Rs 25,160 crore have been settled the jan suraksha (life insurance) schemes, which includes Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), since their launch in 2015.She said more than 27 crore people had enrolled under PMJJBY, 58 crore under PMSBY and 9 crore under Atal Pension Yojana, citing data on the 11th anniversaries of the Jan suraksha schemes.PMJJBY is designed to provide life insurance cover for death due to any reason at premium of less than Rs 2 per day. PMSBY is structured to provide accidental death and disability cover for death or disability on account of an accident, up to Rs 2 lakh to persons aged between 18-70, at a minimal premium of less than Rs 2 per month.While 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. It is an initiative of the government to provide financial security and cover future exigencies for the people in the unorganised sector.

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