PMJJBY, PMSBY settle claims worth Rs 25,160 cr since their launch in 2015
Jansuraksha schemes like Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana have settled claims of about Rs 25,160 crore since their launch in 2015, Finance Minister Nirmala Sitharaman said on Saturday. Jan Suraksha schemes Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), and Atal Pension Yojana (APY) envisioned to extend affordable financial protection to all, particularly the under-served and vulnerable sections of society, were launched by Prime Minister Narendra Modi on May 9, 2015.
These flagship schemes, which completed 11 years, aim to broaden the insurance and pension landscape by shielding citizens against life’s uncertainties and fostering long-term financial resilience.
Citing data on the 11th anniversaries of the Jan Suraksha Schemes, Sitharaman said that over 27 crore, 58 crore and 9 crore enrolments have been done under PMJJBY, PMSBY and APY, respectively.
On PMJJBY, she said the scheme has settled claims worth more than Rs 21,500 crore for over 10.7 lakh families. Under the PMSBY scheme, Sitharaman said it has settled claims worth nearly Rs 3,660 crore for over 1.84 lakh families.
“As we mark the 11th anniversary of the Jan Suraksha schemes, heartfelt appreciation for all the stakeholders, including field functionaries of banks and insurance companies, whose dedicated efforts have made these schemes a huge success,” she said.
Speaking on the ocassion, Minister of State for Finance Pankaj Chaudhary said the launch of the online Jan Suraksha Portal has made it possible for citizens to enrol conveniently without visiting bank branches or post offices, and the digitising the claims process has ensured faster settlements, enabling timely support to bereaved families when they need it the most.
“As we celebrate the 11th anniversaries of the three-social security (Jan Suraksha) schemes -- PMJJBY, PMSBY and APY, let us recount how these schemes have enabled affordable insurance and security to people (Jan Suraksha), their achievements and salient features,” he said.
Launched in 2015, PMJJBY offers life insurance cover for death due to any cause at an annual premium of Rs 436. Eligible individuals between 18 and 50 years can enrol through participating banks or post offices. It provides Rs 2 lakh to the nominee in the event of the subscriber’s death.
As of April 29, the scheme has recorded 12.72 crore female enrolments and 8.09 crore enrolments from PMJDY account holders, the finance ministry said in a statement.
The PMSBY scheme offers accidental death and disability insurance to individuals aged 18 to 70 years at a nominal premium of Rs 20 per annum.
The scheme pays Rs 2 lakh for accidental death or total disability and Rs 1 lakh for partial disability.
As on April 29, 2026, the scheme has recorded 27.45 crore female enrolments and 19.30 crore enrolments from PMJDY account holders, it said.
Atal Pension Yojana aims to provide old-age income security to unorganised sector workers. It guarantees a monthly pension of Rs 1,000 to Rs 5,000 after the age of 60, depending on the contribution. The scheme is administered by the Pension Fund Regulatory and Development Authority (PFRDA) under the National Pension System (NPS) framework.
Open to bank account holders aged 18 to 40 years who are not income tax payers, the scheme has seen over 7.66 crore enrolments till April 2025.
Subscribers can choose monthly, quarterly, or half-yearly contribution modes.
In case of a subscriber’s death before the age of 60, the spouse may continue contributing until the original retirement age or withdraw the accumulated corpus. As on April 30, 2026, more than 9.04 crore individuals have enrolled in the scheme, it added.
