The Government of India’s three flagship social security schemes — Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana, and Atal Pension Yojana — have completed 11 years of providing affordable insurance and pension protection to millions of Indians.
Launched on 9 May 2015 by Narendra Modi, these schemes were introduced with the objective of extending financial security to poor, vulnerable, and underserved sections of society.
Over the past decade, they have emerged as major pillars of India’s social protection framework by ensuring insurance cover, pension benefits, and financial resilience at highly affordable costs.
Speaking on the occasion, Union Finance Minister Nirmala Sitharaman announced that the PMJJBY and the PMSBY have together settled insurance claims worth nearly ₹25,160 crore since their launch in 2015.
According to official data, more than 27 crore enrolments have been recorded under PMJJBY, over 58 crore under PMSBY, and more than 9 crore under the Atal Pension Yojana (APY).
The PMJJBY alone has settled claims worth over ₹21,500 crore, benefiting more than 10.7 lakh families. Meanwhile, PMSBY has settled claims amounting to nearly ₹3,660 crore for over 1.84 lakh families since its inception.
The Jan Suraksha programmes have significantly strengthened India’s social protection framework and expanded financial inclusion at the grassroots level.
Key Features of PMJJBY
The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a low-cost life insurance scheme (affordable premium of less than ₹2 per day) that offers coverage for death due to any reason. The scheme is available to individuals between 18 and 50 years of age through participating banks and post offices.
- Annual Premium: ₹436
- Insurance Cover: ₹2 lakh
- Benefit: Paid to the nominee upon the subscriber’s death
As of April 29, 2026, the scheme recorded over 12.72 crore female enrolments and more than 8 crore enrolments linked to Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts.
Key Features of PMSBY
- The Pradhan Mantri Suraksha Bima Yojana provides accidental death and disability insurance cover at an extremely low premium of less than ₹2 per month.
- The scheme is available to individuals aged between 18 and 70 years holding bank or post office accounts. The annual premium is only ₹20, which is automatically debited from the subscriber’s account.
- Under PMSBY, a compensation of ₹2 lakh is provided in case of accidental death or total permanent disability. A benefit of ₹1 lakh is available for partial permanent disability, such as loss of one eye or one limb.
- As of 29 April 2026, cumulative enrolments under PMSBY exceeded 58.09 crore. Claims amounting to ₹3,667.52 crore have been settled for 1,84,662 beneficiaries. The scheme has also recorded 27.45 crore female enrolments and 19.30 crore enrolments from PMJDY account holders.
About Atal Pension Yojana (APY)
- The Atal Pension Yojana was introduced to provide old-age income security, especially for workers in the unorganised sector.
- Administered by the Pension Fund Regulatory and Development Authority under the National Pension System framework, the scheme is open to bank account holders aged between 18 and 40 years who are not income taxpayers.
- Subscribers can choose a guaranteed monthly pension ranging from ₹1,000 to ₹5,000 after attaining the age of 60 years, depending on their contribution amount and duration.
- The pension is payable to the subscriber during his or her lifetime and thereafter to the spouse. After the death of both, the accumulated pension corpus is returned to the nominee.
- Subscribers can contribute monthly, quarterly, or half-yearly. In the event of the subscriber’s death before 60 years of age, the spouse has the option to continue contributing until the subscriber would have reached the age of 60.
- Till 30 April 2026, more than 9.04 crore individuals had enrolled under APY, making it one of the largest pension inclusion programmes in the world.
Focus on Digitisation and Financial Inclusion
- The digitisation and simplification have played a crucial role in the success of the Jan Suraksha schemes.
- The introduction of the online Jan Suraksha Portal has enabled citizens to enrol easily without visiting bank branches or post offices.
- Similarly, digitisation of the claims process has accelerated claim settlements and ensured timely assistance to affected families.
A Decade of Social Protection
- Over the last 11 years, the Jan Suraksha schemes have significantly expanded the reach of affordable insurance and pension services in India.
- By combining low premiums, simple enrolment procedures, and direct benefit mechanisms, these schemes have strengthened financial inclusion and social security for millions of citizens, particularly among economically weaker and unorganised sections of society.