In the last union budget, 2015 finance minister has announced at least half-dozen social security schemes especially for the poor and the underprivileged.
Encouraged by the success of the Pradhan Mantri Jan Dhan Yojana (PMJDY), the new schemes will be rolled out in the similar format. In last 9 months over 12.5 crore bank accounts have been opened under PMJDY. The government is trying to use around 154,000 postal points to reach the beneficiaries of the schemes spread across the villages of the country.
It is expected that enrolment for the insurance and pension schemes will start after Prime Minister launches them on May 9th. But the insurance coverage will be applicable from June 1, 2015. Below are the details of the schemes with a link to few sites where you can read more about these.
Pradhan Mantri Suraksha Bima Yojana (PMSBY)
PMSBY will offer an one year accidental death-cum -disability cover of Rs 2 lakh. This is a renewable scheme covering partial or permanent disabilities of people within 18-70 years. The person can avail the scheme for a premium of Rs 12 per annum provided he/she has a savings bank account. Click to check out few articles about this scheme:
PMJJBY is a low-premium insurance scheme which covers both natural & accidental death. It is linked with the Pradhan Mantri Jhan Dhan Yojana. This will give Rs 2 lakh coverage at a premium of Rs 330 per year . People aged between 18 and 50 are the beneficiaries under this scheme. Check out few articles on this scheme below:
APY will provide a pre-defined pension with a contribution period of 20 years or more. The government also will contribute 50% of the beneficiaries’ premium, as per the contribution & period. This contribution is limited to Rs 1,000 each year upto five years. For that the accounts should be opened before December 31, 2015.