DFS urges states, UTs to deepen micro-insurance schemes in 3-mth campaign

The department of financial services has urged the states and union territories to increase enrolments under the micro-insurance schemes of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY), considering the scope and size of population in their respective states.

Vivek Joshi, secretary, department of financial services chaired a meeting virtually yesterday with chief secretaries/senior officials of all states and union territories to sensitise and impress upon them the salient features of the intensive three-month campaign to boost coverage of micro-insurance schemes at the gram panchayat level.

Currently, active enrolments under PMJJBY and PMSBY stand at 83 million and 239 million, respectively, and claims of about Rs 15,500 crore have been paid under both schemes.

Beginning April 1, the three-month campaign will cover all the districts in the country.

During the meeting, Joshi also sought the active support of chief secretaries of all the states and union territories in ensuring effective implementation and monitoring of the campaign.

As a step towards amassing scale, Joshi will also be taking a meeting with the heads of all Public Sector Banks (PSBs) on Thursday to ensure that the saturation campaign reaches to the maximum number of eligible beneficiaries.

The PMJJBY and PMSBY are aimed at providing life and accidental insurance cover to citizens, especially in the marginal sections of society, as part of social security cover. PMJJBY provides insurance cover of Rs two lakh in the event of death due to any reason, whereas PMSBY provides accidental insurance cover of Rs two lakh for death or full permanent disability and Rs one lakh in case of partial permanent disability.