PMJJBY, PMSBY settle claims worth Rs 25,160 cr since their launch in 2015

The three Jan Suraksha schemes — Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), and Atal Pension Yojana (APY)...

What Happened

The three Jan Suraksha schemes — Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), and Atal Pension Yojana (APY) — completed 11 years since their launch on May 9, 2015.
Combined claims settled under PMJJBY and PMSBY since inception crossed Rs 25,160 crore: PMJJBY settled over Rs 21,500 crore for more than 1.07 million families, while PMSBY settled nearly Rs 3,660 crore for over 184,000 families.
Cumulative enrolments across the three schemes surpassed 94.5 crore: approximately 27 crore under PMJJBY, 58 crore under PMSBY, and 9 crore under APY.
As of April 29, 2026, PMJJBY recorded 127.2 million female enrolments; PMSBY recorded 274.5 million female enrolments — indicating deep penetration among women from Jan Dhan account holders.
The schemes are delivered through the banking system, with premiums auto-debited from savings accounts, making them operationally low-friction for the unbanked and newly banked.

Static Topic Bridges

Financial Inclusion and the Jan Dhan Ecosystem

Financial inclusion refers to ensuring that all individuals and businesses have access to useful and affordable financial products and services — transactions, payments, savings, credit, and insurance — delivered in a responsible and sustainable way. India's Jan Dhan–Aadhaar–Mobile (JAM) trinity created the infrastructure backbone for these schemes by opening over 50 crore zero-balance savings accounts, enabling direct benefit transfers and insurance premium collection at scale.

PMJDY (Pradhan Mantri Jan Dhan Yojana) is the account layer; PMJJBY and PMSBY are the insurance products riding on it.
PMJJBY and PMSBY enrolments are significantly drawn from PMJDY account holders — 80.9 million PMJJBY enrolments and 193 million PMSBY enrolments come from this base.

Connection to this news: The high enrolment figures reflect the amplifying effect of prior financial inclusion infrastructure; without the PMJDY account base, distributing low-cost insurance at this scale would not have been operationally feasible.

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

PMJJBY is a renewable one-year term life insurance scheme for bank account holders aged 18–50 years. It provides life cover of Rs 2 lakh for death due to any cause. The annual premium is Rs 436, auto-debited from the subscriber's bank account every June 1.

Cover period: June 1 to May 31 each year.
Death from any cause is covered; a 30-day waiting period applies for non-accidental deaths on initial enrolment.
The scheme is offered by Life Insurance Corporation of India and other private insurers through participating banks.
Premiums are shared: a portion goes to the insurer, a portion to the bank as facilitation charge, and a small amount to the Business Correspondent.

Connection to this news: PMJJBY accounts for the bulk — over Rs 21,500 crore — of the Rs 25,160 crore in total claims settled, underscoring the scale of life-risk protection delivered to low-income households.

Pradhan Mantri Suraksha Bima Yojana (PMSBY)

PMSBY is a one-year accidental death and disability insurance scheme for bank account holders aged 18–70. It provides Rs 2 lakh for accidental death or total permanent disability, and Rs 1 lakh for partial permanent disability. The annual premium is just Rs 20.

Cover is for death or disability caused by an accident only — not illness or natural causes.
Like PMJJBY, it is auto-renewed annually via bank debit.
The scheme targets informal sector workers and agricultural labourers who face high occupational accident risk.

Connection to this news: PMSBY's near-Rs 3,660 crore in claims settled represents accidental death and disability payouts to some of the most economically vulnerable households, demonstrating the scheme's social protection reach.

Atal Pension Yojana (APY) and the Pension Coverage Gap

APY is a defined-benefit pension scheme targeted at workers in the unorganised sector, co-contributing with the government for subscribers aged 18–40. Subscribers choose a fixed monthly pension of Rs 1,000–5,000 at age 60; the government co-contributes 50% of the subscriber's contribution (or Rs 1,000 per year, whichever is lower) for those not covered by any statutory social security scheme.

Administered by PFRDA (Pension Fund Regulatory and Development Authority).
As of 2026, enrolments have crossed 9 crore — a significant milestone for a country where less than 15% of the workforce participates in any pension scheme.
The 2022 amendment barred income tax-paying citizens from joining APY, focusing it more sharply on low-income workers.

Connection to this news: Alongside PMJJBY and PMSBY, APY forms the third pillar of the Jan Suraksha package — together they aim to provide a minimum social protection floor covering life risk, accident risk, and old-age income.

Key Facts & Data

Launch date: May 9, 2015; 11th anniversary marked on May 9, 2026.
PMJJBY premium: Rs 436/year; cover: Rs 2 lakh (death, any cause); age band: 18–50.
PMSBY premium: Rs 20/year; cover: Rs 2 lakh (accidental death/total disability), Rs 1 lakh (partial disability); age band: 18–70.
Total claims settled (PMJJBY + PMSBY) since 2015: Rs 25,160 crore.
Cumulative enrolments: ~94.5 crore across all three Jan Suraksha schemes.
PMJJBY claims settled: Rs 21,500+ crore for 1.07 million+ families.
PMSBY claims settled: Rs 3,660 crore for 184,000+ families.
Both schemes delivered primarily through auto-debit from savings bank accounts linked under PMJDY.