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Private insurers might junk PM's Jan Suraksha schemes

Jan Suraksha scheme incorporated a personal accident policy, a term plan and a pension plan

M Saraswathy  |  Mumbai 

  Private general insurance companies might reduce business under the Prime Minister’s Jan Suraksha schemes - Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana (PMSBY) - from the next financial year (FY17). According to private insurers, the premium is quite low, while claims payments are very high. “Claims are coming in. Since premiums are low, this business will not be sustainable in the long term. Out of the Rs 12 premium, only Rs 10 comes to the insurer. This is too low from a premium perspective and it’s is not adequate to ...

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Private insurers might junk PM's Jan Suraksha schemes

Jan Suraksha scheme incorporated a personal accident policy, a term plan and a pension plan

Jan Suraksha scheme incorporated a personal accident policy, a term plan and a pension plan   Private general insurance companies might reduce business under the Prime Minister’s Jan Suraksha schemes - Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana (PMSBY) - from the next financial year (FY17). According to private insurers, the premium is quite low, while claims payments are very high. “Claims are coming in. Since premiums are low, this business will not be sustainable in the long term. Out of the Rs 12 premium, only Rs 10 comes to the insurer. This is too low from a premium perspective and it’s is not adequate to ... image
Business Standard
177 22

Private insurers might junk PM's Jan Suraksha schemes

Jan Suraksha scheme incorporated a personal accident policy, a term plan and a pension plan

  Private general insurance companies might reduce business under the Prime Minister’s Jan Suraksha schemes - Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana (PMSBY) - from the next financial year (FY17). According to private insurers, the premium is quite low, while claims payments are very high. “Claims are coming in. Since premiums are low, this business will not be sustainable in the long term. Out of the Rs 12 premium, only Rs 10 comes to the insurer. This is too low from a premium perspective and it’s is not adequate to ...

image
Business Standard
177 22