Pradhan Mantri Suraksha Bima Yojana (PMSBY

A large part of the Indian population lives in rural areas and most of them are not covered under any kind of social security scheme

Pradhanmantri surakshaa scheme 

Such is the seriousness of the government to make these schemes a success that almost the entire senior Cabinet has fanned out to various state capitals and major towns to launch the scheme simultaneously and ensure its successful implementation.
Pradhan Mantri Suraksha Bima Yojana (PMSBY) Image
So what makes this scheme stand o7ut from other social security schemes launched by the previous governments?
There are two aspects of PMSBY that make it different in its offering and approach. Firstly, it is the sheer size and depth of inclusion to bring and get covered the maximum number of people under this scheme, which kind of makes it very ambitious and challenging.
Today, if an earning member of a family becomes permanently disabled or dies an accidental death, his or her family faces a life in penury and hardship, with no protection or support from any institution or group. By joining the PMSBY scheme and by paying a nominal premium of Rs. 12/- per person per year, he or she will get an insurance cover for a sum of Rs. 2,00,000/- (two lakh) in case of accidental death or permanent full disability or a sum of Rs. 1,00,000/- (one lakh) in case of partial but permanent disability. The scheme will be valid for a year and it can be renewed every year.

Pradhanamantri vima yojana 

A lot of government social security schemes have not received a very positive response from people due to lack of financial system infrastructure at a nearby location and moreover, the paperwork involved in opening accounts or making claims was too much for them to handle. Even the leakages in the system resulted in large sections remaining excluded from the benefits of these schemes. This has now been largely addressed by the present government that has made extensive use of technology to augment its social scheme delivery and monitor mechanisms. All the payments will be directly credited to the beneficiary’s account with no scope for leakages.

Who is eligible to be covered under PMSBY?

Any person between the age of 18 and 70 with a savings bank account and Aadhaar Card can join the scheme.
A person will need to fill out a simple form mentioning the name of the nominee and linking the Aadhaar Card to the bank account. The person will need to submit the form each year before 1st June to continue the scheme.
With this, the account can be easily activated and the entire premium due will be auto-debited from his or her account. 

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