Pradhan Mantri Suraksha Bima Yojana

Centre may increase cover from the current Rs 2 lakh to Rs 5 lakh under its flagship insurance schemes ahead of the high-stakes assembly elections in three states

From June 1, the government has converged two insurance schemes for fishermen to bring down the premium burden and also ease implementation issues

Ahead of Budget 2024, the Finance Ministry will meet state-owned banks and financial institutions on Tuesday to assess advancements in key financial inclusion schemes. Three key schemes explained

PM Suraksha Bima Yojana, which provides insurance for death or disability due to accidents, has settled approximately 173,000 claims since its launch in May 2015

PM Suraksha Bima Yojana is a scheme offering insurance coverage on account of death or disability due to an accident

In a bid to give a push to micro insurance schemes, Financial Services Secretary Vivek Joshi held a meeting with officials from 10 central ministries and departments, including those from labour and employment, housing and urban affairs, agriculture and farmers welfare, and rural development. Representatives of the Ministry of Panchayati Raj, Ministry of Mines, Ministry of Women & Child Development, Ministry of Coal, Department of Post and India Post Payments Bank (IPPB) were also present in the meeting called with a view to boost coverage under micro-insurance schemes -- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) -- at the Gram Panchayat level. A three-month campaign will cover all the districts in the country from April 1 to June 30, 2023, the finance ministry said in a statement on Wednesday. Joshi exhorted the ministries/departments concerned for the maximum coverage of Self-Help Groups (SHG) members, Anganwadi workers, ...

Currently, active enrolments under PMJJBY and PMSBY stand at 83 million and 239 million, respectively, and claims of about Rs 15,500 crore have been paid under both schemes

Currently, active enrolments under PMJJBY and PMSBY stand at 83 million and 239 million, respectively, and claims of about Rs 15,500 crore have been paid under both schemes

For Irdai Chairman Debasis Panda, LIC's fortune and reforms in health insurance sector will be the two most difficult tests to pass

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

These policies prove especially useful in case of a disability

Public sector banks have outperformed private ones in enrolments