Implementing Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana

LOK SABHA

PM Suraksha Bima and PM Jeevan Jyoti Bima Yojanas

5118. SHRI RANJEETSINGH HINDURAO NAIK NIMBALKAR
         SHRI SUDHAKAR TUKARAM SHRANGARE
         SHRI DEVJI M. PATEL

Will the Minister of FINANCE be pleased to state:

(a) whether the Government is implementing Pradhan Mantri (PM) Suraksha Bima Yojana and Pradhan Mantri (PM)Jeevan Jyoti Bima Yojana;

(b) whether the premium amount of both the said schemes is Rs. 12 and Rs. 330 respectively and the said insurance policy has to be renewed every year in May;

(c) whether the farmers forget several times to renew their policy on time due to which they are deprived of financial assistance of Rs.2 lakh provided through the said policy in case of death in the family;

(d) if so, the details thereof including the total number of insurance holders who were deprived of the said benefit due to the non-renewal of the policy during the last three years;

(e) whether the Government proposes to pay the said premium amount of both the above- mentioned schemes of 11.3 crore of families eligible under the PM Kisan Samman Nidhi Yojana through the same; and

(f) if so, the details thereof?

(DR BHAGWAT KARAD)

(a) Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) were launched on 9th May, 2015 with a view to enhance the level of insurance penetration in the country and to provide insurance cover to common people, especially poor and the under-privileged sections of the society. While PMJJBY offers life insurance cover of Rs 2 lakh, PMSBY offers accidental death or total permanent disability cover of Rs.2 lakhs and permanent partial disability cover of Rs.1 lakh.

(b) to (d) Coverage under PMJJBY and PMSBY is available as one-year policy period starting from 1st June to 31st May at an annual premium of Rs.330/- and Rs.12/- respectively with the provision of annual renewal. The schemes are generic in nature (and not specific to farmers). Every year, the premium towards renewal of the policy is debited before the start of the next policy year, based on the auto debit consent given by the accountholder at the time of enrolment. If there is sufficient balance in the account of an individual, the policy gets renewed automatically and the benefit of claim is then available to the insured.

Details of the renewals viz-a-viz enrolment at the end of previous policy year in last three policy years are given below: