PMJJBY subscription increases to 128 mn, PMSBY at 284 mn in 7 years

Changes introduced by the government in the claim settlement process have led to quicker and easier settlement of claims during the pandemic, Finance Minister Nirmala Sitharaman

The Centre’s flagship life insurance scheme — Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), and accidental insurance scheme, Pradhan Mantri Suraksha Bima Yojana (PMSBY) — have seen enrollments rise to 128 million and 284 million, respectively, in seven years of inception. 

Atal Pension scheme, that provides a subscriber aged 18-40 years with a guaranteed pension of Rs 1,000 to Rs 5,000 per month after attaining the age of 60 years, depending on the contribution, has seen its subscribers increase to 40 million in the last seven years. All three social security schemes were launched by the government on May 9,