8 Insurance Schemes Launched By PM Narendra Modi

8 Insurance Schemes Launched By PM Narendra Modi

1. Janashree Bima Yojana (JBY)

  • Launched on 10th August 2000 by Life Insurance Corporation. 
  • Janashree Bima Yojana replaced social security group insurance schemes (SSGIS) and Rural Group Life Insurance Scheme(RGLIC) 
  • Provides for an insurance cover of Rs.30000 on natural death, Rs.75000 on permanent disability to accident and Rs.37500 on partial disability. 
  • The Premium is Rs.200 per member per annum. 
  • 45 occupational groups having 25 members. 
  • For both Rural and Urban people 
  • For BPL and marginally above BPL people. 
  • 50% of finance is met out of social security fund.

2. Aam Aadmi Bima Yojna (AABY)

  • Launched on 2nd October 2007. 
  • It was launched by LIC for rural landless households at Shimla. 
  • Premium fixes at Rs.200 per person per annum to be shared equally by centre and the states. 
  • The age covered is 18years to 59 years 
  • Death or Permanent disability Rs. 75000, Partial disability Rs37500 
  • For Rural landless household. 
  • Head of the family or one carring member in the family of rural landless 
  • Free add-on benefit for children of the members of Aam Aadmi Bima Yojana.

3. Universal Health Insurance Scheme (UHIS)

  • Launched from the year 2003-2004 for improving the healthcare access to the poor families. 
  • Launched by four public sector general insurance company. 
  • Export credit Gurantee Corporation (ECGC) and the Agriculture Insurance Company (AIC) are the specialised insurers.

4. Rashtriya Swasthya Bima Yojana (RSBY)

  • Launched on 1st October 2007. 
  • Provides smart-card based casters health insurance cover Rs.30000 per family per annum to BPL families (a unit of five) in the unorganised sector. 
  • The premium is shared in 75:25 between the center and the states. 
  • For BPL families (A unit of five) 
  • For unorganised sectors. 
  • It’s a smart card based cashless health insurance, cover Rs.30000 per annum of insurance or family floats basis. 
  • It also cover migrant workers. 
  • It was for 5years from 2008 to 2013. 
  • It cover all pre-existing diseased, maternity benefit, transport cost 
  • It use IT application both private and public service providers for delivering the insurance package 
  • No age limit has been prescribed. 

5. Siksha Sahayog Yojana

  • Less the burden of parents in meeting the educational exenses of their children. 
  • For BPL families 
  • Between 9th to 12th Standard. 

6. Atal Pension Yojana (APY) 

  • Launched on 9th May 2015 in 2015 Budget. 
  • Launched by PM Sri Nrendra Modi. 
  • It targeted at the Unorganised Sectors. 
  • It has fixed pension for the Insurer ranging between Rs1000 to Rs.5000, If he joins and contributes in between 18years to 40 years, till they turn 60 Years. 
  • This scheme is open to all bank account holders who are not a members of any statutory social security scheme. 
  • The Minimum and Maximum age of Atal pension Yojana is 18 years & 40 Years 
  • The Minimum period of this scheme i.e. Atal Pension Yojana is 20 years or more. 


7. Pradhan Mantri Suraksha Bima Yojana

  • It was launched in 9th May 2015. 
  • It was formally lauched by PM Sri Narendra Modi. 
  • It foused mainly on Accidental Death and disability of a person. 
  • It will cover Rs.2 lakh on Accidental Death and disability of a person 
  • The costs of Premium is Rs.12 per year as mentioned. 
  • The scheme can be used by anyone who has a saving bank account in the banks that offer this Pradhan Mantri Suraksha Bima Yojana Scheme. 
  • This scheme is specially for drivers, security guards, news-paper vendors, etc. other than who are exposed to the risk of accidental death or disability. 

8. Pradhan Mantri Jeevan Jyoti Bima Yojana

  • This scheme was launched on 9th May 2015. 
  • It was formally launched by PM Sri Narendra Modi. 
  • This scheme is a pure protection term insurance cover which plays Rs.2Lakh on the event of the policy holder’s death. 
  • The Premium of this policy Rs.330 per year. 
  • The basic eligibility is for Any-one in-between 18-70 years who has a saving bank account in a bank. 


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