Date: 2025-08-18Category: Not ApplicableState: Union GovernmentCountry: India
Financial Inclusion is Government’s Key priority; Flagship schemes provide affordable insurance and health protection for all, including SC, ST, and OBCs
**Summary:**
The Indian government, under the Ministry of Finance, is prioritizing financial inclusion through various flagship schemes aimed at providing affordable insurance and health protection to all citizens, including Scheduled Castes (SC), Scheduled Tribes (ST), and Other Backward Classes (OBCs). A key initiative is the Financial Inclusion Saturation Campaign, which has reached 2.7 lakh Panchayats and Urban Local Bodies (ULBs) to promote insurance enrollment.
Several key schemes are highlighted:
* **Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY):** Offers a ₹2 lakh insurance coverage for individuals aged 18-50 years in case of death due to any reason, with an annual premium of ₹436.
* **Pradhan Mantri Suraksha Bima Yojana (PMSBY):** Provides insurance coverage for individuals aged 18-70 years, offering ₹2 lakh for accidental death or total permanent disability and ₹1 lakh for partial permanent disability due to accident, at an annual premium of ₹20.
* **Pradhan Mantri Jan Arogya Yojana (PMJAY):** Offers a health cover of ₹5 lakh per family per year for secondary and tertiary care hospitalization.
* **Pradhan Mantri Fasal Bima Yojana (PMFBY):** Safeguards farmers against crop losses caused by unpredictable natural hazards, with farmer premiums capped at 2% for Kharif crops, 1.5% for Rabi crops, and 5% for commercial/horticultural crops.
To enhance the outreach of PMJJBY and PMSBY, the government has launched the Jansuraksha portal (www.jansuraksha.gov.in) to provide comprehensive information on these schemes. Additionally, a network of approximately 16 lakh Banking Correspondents (BCs) is utilized to enroll eligible citizens, including those from SC, ST, and OBC categories. The increase in Foreign Direct Investment in Indian insurance companies from 74% to 100% has been announced in the Union Budget on 1st February, 2025.The initiatives also include setting targets for banks and conducting regular reviews to ensure increased scheme coverage.
These efforts aim to provide a safety net of affordable social security to all eligible citizens, particularly those from vulnerable sections of society.
The information was provided by Minister of State in the Ministry of Finance Shri Pankaj Chaudhary in a written reply to a question in Lok Sabha on August 18, 2025.
Key Entities Referenced
Ministry of Finance: The government ministry responsible for financial matters.
Financial Inclusion Saturation Campaign: A government initiative to reach Panchayats and ULBs for insurance enrollment.
PMJJBY: Pradhan Mantri Jeevan Jyoti Bima Yojana: An insurance scheme offering coverage of Rs 2 lakhs in case of death for people in the 18-50 age group.
PMSBY: Pradhan Mantri Suraksha Bima Yojana: An insurance scheme offering coverage for accidental death or disability for people in the 18-70 age group.
Union Budget: The annual financial statement of the government, in which the increase in Foreign Direct Investment in Indian insurance companies was announced.
Pradhan Mantri Jan Arogya Yojana: A health insurance scheme offering a health cover of 5 lakh per family per year for secondary and tertiary care hospitilisation.
Pradhan Mantri Fasal Bima Yojana: A crop insurance scheme offering safeguards to farmers against crop losses caused by unpredictable natural hazards.
Lok Sabha: The lower house of the Parliament of India, where a question related to the information was answered.
Ministry of Finance
Financial Inclusion is Government’s Key priority;
Flagship schemes provide affordable insurance and
health protection for all, including SC, ST, and OBCs
Financial Inclusion Saturation Campaign reaches 2.7
Lakh Panchayats and ULBs for Insurance Enrollment
Jansuraksha portal created to provide all information
on PMJJBY and PMSBY schemes
Posted On: 18 AUG 2025 5:04PM by PIB Delhi
The increase in Foreign Direct Investment in Indian insurance companies from 74% to 100% has been
announced in the Union Budget on 1st February, 2025.
To create universal and afford able social security system, especially for the poor and the under-privileged,
the government of India has launched flagship insurance schemes such as:
1. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) offers insurance coverage of Rs 2 lakhs to the
people in the age group of 18-50 years in case of death of the insured, due to any reason, at an annual
premium of Rs 436/-.Pradhan Mantri Suraksha Bima Yojana (PMSBY) offers insurance coverage to the
people in the age group of 18-70 years for Rs. 2 lakhs in case of accidental death or total permanent
disability and Rs. 1 lakh for partial permanent disability; due to accident, at a premium of Rs. 20 per
annum.Pradhan Mantri Jan Arogya Yojana(PMJAY) offers a health cover of ₹5lakh per family per year
for secondary and tertiary care hospitilisation.Pradhan Mantri Fasal BimaYojana(PMFBY) offers safe
guards to farmers against crop losses caused by unpredictable natural hazards. Under the scheme,
premium paid by farmers is capped at 2% for Kharif,1.5% for Rabi and 5% for commercial/horticultural
crops.
These schemes are open to all eligible citizens of India including SC,ST and OBCs.
Further, in order to increase the coverage and outreach under PMJJBY and PMSBY, several steps are being
taken including regular campaigns at grass root level with active participation of banks and local
administration including “Financial Inclusion Saturation Campaign” in 2.70 lakh gram panchayats and
Urban Local Bodies (ULBs) from 01.07.2025 and creation of a Jansuraksha portal(www.jansuraksha.gov.in)
to host all relevant material/information related to these schemes.
Further, a strong network of about 16 lakh Banking Correspondents (BCs) representing the last mile connect
in the Banking Services delivery system is in place to enroll all eligible citizens including SC, ST and OBCs
under these social security schemes.
Apart from this, allocation of targets and regular/periodic review to all banks is being done to ensure increase
in the coverage of these schemes. These concerted efforts aim to ensure that every eligible citizen, particularly
those from vulnerable sections of society, is brought under the safety net of affordable social securityThis information was given by Minister of State in the Ministry of Finance Shri Pankaj Chaudhary in a
written reply to a question in Lok Sabha today.
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(Release ID: 2157540)