Union Minister of External Affairs Sushma Swaraj on Saturday said that Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jivan Jyothi Bima Yojana (PMJJBY) and Atal Pension Yojana (APY) are path-breaking initiatives for social security.
She was addressing a function organised on the occasion of launching of PMSBY, PMJJBY and APY at Samanvaya Bhawan in Bhopal. She further said that these three schemes would provide social security at a very nominal cost to the millions of countrymen. These are designed to provide utmost convenience with auto debit facility from the bank account of the subscriber.
Pradhan Mantri Suraksha Bima Yojana and PM Jivan Jyoti Bima Yojana would provide insurance to individuals in any unfortunate event causing death or disability. The Atal Pension Yojana would address the problem of income security during old age. These schemes have been designed in such a way as to provide a very convenient delivery mechanism. These schemes will also address issues like very low coverage of life or accident insurance as well as old age income security products in this vast country.
Speaking on the occasion she said Pradhan Mantri Suraksha Bima Yojana will provide insurance coverage of Rs2 lakhs for individuals on payment of just Rs12 per annum.
This scheme can benefit all the savings bank account holders in the age group of 18-70 years. Pradhan Mantri Jivan Jyothi Bima Yojana is another well thought out scheme which offers life Insurance coverage of Rs2 lakhs for any savings bank holders in the age group of 18-50 years on payment of just Rs330 per year.
Shivraj Singh Chouhan, Chief Minister of Madhya Pradesh, Anthony DeSa, Chief Secretary of Madhya Pradesh and several officers of Banking Sector were also present in this Function.