The Finance Ministry announced on Saturday that the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) provided Rs 2 lakh in life insurance coverage to nearly 21 crore beneficiaries, ensuring financial security for families during times of uncertainty.
The Finance Ministry stated in a social media post on X that the total number of enrolments under the PMJJBY was 21.67 crore, with a total number of claims received of 860,575, totalling Rs 17,211.50 as of October 20.
PMJJBY is a one-year life insurance program that is renewable year after year and covers death for any reason. Individuals aged 18 to 50 who have an individual bank or post office account are eligible to enrol in the plan.
People who join the program before the age of 50 can continue to have risk of life coverage until the age of 55 by paying the regular premium.
Life protection of Rs 2 lakh in the case of death due to any cause with a premium of Rs 436 per year.
On Saturday, the Finance Ministry released numbers for the Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jan Dhan Yojana (PMJDY). It added that almost 48 crore people have enlisted in PMSBY's Rs 2 lakh accident insurance coverage, while PMJDY has more than 54 crore beneficiaries.
As per the official figures, the cumulative enrolment under the PMSBY has been 47.59 crore, and the cumulative number of claims received stood at 193,964, while the cumulative number of claims disbursed is 147,641.
As of 14th August, 24, the number of total PMJDY accounts is 53.13 crore; 55.6 percent (29.56 crore) Jan-Dhan account holders are women, and 66.6 percent (35.37 crore) Jan Dhan accounts are in rural and semi-urban areas, as per the official figures.
As per the ministry, total deposit balances under PMJDY accounts stand at Rs 2,31,236 crore. The deposits have increased about 15 times with an increase in accounts of 3.6 times as of August 15, 2024.
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