Jan Suraksha Scheme

What are the Schemes Available Under Jan Suraksha Schemes?

The Government offers the following 3 schemes under the Jan Suraksha Schemes:

1. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

   • This Jan Suraksha Scheme is a term life insurance plan for people with an existing savings bank account. 

   • Individuals between 18 and 50 years old can only avail this plan.

   • This Jansuraksha scheme provides a life cover of Rs. 2 Lacs at just Rs. 330 per annum.

   • The premiums can be paid only through ‘auto-debit’ in one instalment.

   • This Jan Suraksha scheme needs to be renewed at the end of every year.

2. Pradhan Mantri Suraksha Bima Yojana (PMSBY)

   • This Jansuraksha scheme is a personal accident insurance scheme available for people between the ages of 18 and 70 years.

   • The plan provides a risk cover of 2 Lacs for accidental death and total disability and 1 Lacs cover for partial disability.

   • The premiums for this Jan Suraksha Scheme are just Rs. 12, payable annually.

   • The premiums will be deducted from the policyholder’s savings account through ‘auto-debit’ feature

   • This Jansuraksha scheme needs to be renewed annually.

3. Atal Pension Yojana (APY)

   • This Jan Suraksha scheme pension plan is available for Indian citizens who are between the ages of 18 - 40 years.

   • The policyholder should have a savings bank account or post office savings bank account.

   • This Jansuraksha scheme plan offers a guaranteed minimum pension of 1000, 2000, 3000, 4000, or 5000 per month from the age of 60 years, depending on the contributions made by the policyholder.

   • The premium contributions can be made on a monthly, quarterly, or half-yearly basis via an ‘auto-debit’ facility.

   • In case of the policyholder’s death, the accumulated pension will be paid to the spouse. In case of death of both (policyholder and spouse), the pension amount will be paid to the nominee.

Additional Advantages

• Social Security Net: These schemes collectively create a social security net for the economically weaker sections, providing them with much-needed financial protection.

• Encouragement of Savings: The schemes encourage regular savings and financial planning among the masses.

• Financial Inclusion: Promote financial inclusion by bringing more people into the formal banking and insurance sectors.

Conclusion

The Jan Suraksha Schemes offer significant benefits by providing affordable and accessible insurance and pension options. They play a crucial role in ensuring financial security for individuals and their families, especially in times of crisis. By enrolling in these schemes, individuals can safeguard their future and reduce financial uncertainties.

Note: Check all the best term insurance plan in India.

Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.

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