Lok Sabha Question No. 5118 (UNSTARRED), answered on 2022-04-04
Subject: PM Suraksha Bima and PM Jeevan Jyoti Bima Yojanas
Ministry: FINANCE
Asked by: Ranjeetsingh Naik Nimbalkar, Sudhakar Tukaram Shrangre, Devji Mansingram Patel

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES

## LOK SABHA

## UNSTARRED QUESTION No. 5118

TO BE ANSWERED ON MONDAY, APRIL 4, 2022/CHAITRA 14, 1944 (SAKA)

## PM Suraksha Bima and PM Jeevan Jyoti Bima Yojanas

## 5118. SHRI RANJEETSINGH HINDURAO NAIK NIMBALKAR: SHRI SUDHAKAR TUKARAM SHRANGARE: SHRI DEVJI M. PATEL:

Will the Minister of FINANCE be pleased to state:

- (a) whether the Government is implementing Pradhan Mantri (PM) Suraksha Bima Yojana and Pradhan Mantri (PM)Jeevan Jyoti Bima Yojana;
- (b) whether the premium amount of both the said schemes is Rs. 12 and Rs. 330 respectively and the said insurance policy has to be renewed every year in May;
- (c) whether the farmers forget several times to renew their policy on time due to which they are deprived of financial assistance of Rs.2 lakh provided through the said policy in case of death in the family;
- (d) if so, the details thereof including the total number of insurance holders who were deprived of the said benefit due to the non-renewal of the policy during the last three years;
- (e)  whether  the  Government proposes to pay the said premium amount of both the  abovementioned  schemes  of  11.3  crore  of  families  eligible  under  the  PM  Kisan  Samman  Nidhi Yojana through the same; and
- (f) if so, the details thereof?

## Answer

## THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (DR BHAGWAT KARAD)

(a) Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana  (PMSBY)  were  launched  on  9th  May,  2015  with  a  view  to  enhance  the  level  of insurance  penetration  in  the  country  and  to  provide  insurance  cover  to  common  people, especially poor and the under-privileged sections of the society.  While PMJJBY offers life insurance cover of Rs 2 lakh, PMSBY offers accidental death or total permanent disability cover of Rs.2 lakhs and permanent partial disability cover of Rs.1 lakh.

(b) to (d) Coverage under PMJJBY and PMSBY is available as one-year policy period starting from 1 st June to 31 st May at an annual premium of Rs.330/- and Rs.12/- respectively with the provision of annual renewal. The schemes are generic in nature (and not specific to farmers). Every year, the premium towards renewal of the policy is debited before the start of the next policy  year,  based  on  the  auto  debit  consent  given  by  the  accountholder  at  the  time  of enrolment. If there is sufficient balance in the account of an individual, the policy gets renewed automatically and the benefit of claim is then available to the insured.

Details of the renewals viz-a-viz enrolment at the end of previous policy year in last three policy years are given below:

|                                    | PMJJBY      | PMSBY        |
|------------------------------------|-------------|--------------|
| No. of Enrolments as on 31.05.2019 | 2,91,19,885 | 10,76,10,835 |
| Renewals as on 01.06.2019          | 2,53,04,323 | 9,74,33,008  |
| No. of Enrolments as on 31.05.2020 | 3,62,52,686 | 12,71,94,175 |
| Renewals as on 01.06.2020          | 3,30,67,072 | 12,05,80,432 |
| No. of Enrolments as on 31.05.2021 | 4,80,24,837 | 16,04,61,070 |
| Renewals as on 01.06.2021          | 4,08,77,398 | 15,04,19,031 |

The policy is not renewed in the following cases:

- i) Insufficient balance in the account of the individual at the time of renewal for payment of premium;
2. ii) Individual's age has grown out of the age bracket prescribed under the schemes; and
3. iii) Exit from policy on account of closure of bank account or opting out by the subscriber from the schemes or death of the individual.

(e & f) As apprised by the Ministry of Agriculture & Farmers Welfare, no such proposal for payment of premium under PMJJBY & PMSBY on behalf of eligible beneficiaries under PM Kisan Samman Nidhi Yojana is under consideration.

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