- Flagship insurance schemes like PMJJBY, PMSBY, PMJAY, and PMFBY offer affordable coverage to all citizens, including SC, ST, and OBC communities.
- Government campaigns and the Jansuraksha portal help increase enrollment and awareness for these social security schemes.
- Banking Correspondents and target allocations work to reach the at-risk sections of society as much as possible.
India’s government has improved financial inclusion through Pradhan Mantri Insurance and Health Schemes such as Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jan Arogya Yojana, and Pradhan Mantri Fasal Bima Yojana. These main schemes provide affordable insurance and health protection to all citizens, including SC, ST, and OBC communities, building a strong social security system.
Key Government Insurance Schemes for Financial Inclusion
These flagship schemes are made to offer affordable insurance and health protection to every eligible citizen, especially focusing on poor groups like SC, ST, and OBC communities. They cover life, accident, health, and crop insurance needs, making social security easy to access and inclusive.
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
PMJJBY provides life insurance coverage of Rs 2 lakhs to individuals aged 18-50 years. The scheme offers financial security in case of death from any cause. The yearly premium is Rs 436, making it affordable for many citizens.
Pradhan Mantri Suraksha Bima Yojana (PMSBY)
PMSBY offers accidental death and disability insurance benefits. It covers individuals aged 18-70 years with a sum insured of Rs 2 lakhs for accidental death or total permanent disability, and Rs 1 lakh for partial permanent disability. The premium is just Rs 20 per year, making accident protection easy to get.
Pradhan Mantri Jan Arogya Yojana (PMJAY)
PMJAY provides health coverage of ₹5 lakh per family per year for secondary and tertiary care hospitalization. This scheme helps families get quality healthcare without money problems, supporting at-risk communities during medical emergencies.
Pradhan Mantri Fasal Bima Yojana (PMFBY)
PMFBY protects farmers against crop losses caused by natural hazards. Premiums are capped at 2% for Kharif crops, 1.5% for Rabi crops, and 5% for commercial/horticultural crops. This scheme makes sure farmers get timely compensation, supporting agricultural stability.
Steps to Improve Coverage and Reach of Insurance Schemes
To increase enrollment and awareness, the government has started several schemes. These include local campaigns, an online portal, and using banking correspondents to reach every eligible citizen.
Financial Inclusion Saturation Campaign and Jansuraksha Portal
Since 1st July 2025, the Financial Inclusion Saturation Campaign is active in 2.70 lakh gram panchayats and Urban Local Bodies (ULBs). This campaign involves banks and local administration working together to spread awareness and encourage enrollment.
The Jansuraksha portal has all the information and materials related to these schemes, making it easier for citizens to know about benefits and apply online.
Role of Banking Correspondents and Target Allocation
A strong network of about 16 lakh Banking Correspondents (BCs) acts as the last mile connection in banking services. They play an important role in enrolling eligible citizens, including SC, ST, and OBC communities, under these social security schemes.
Regular target allocation and periodic reviews for banks keep efforts ongoing to increase coverage. These steps help bring every eligible citizen under the safety net of affordable social security.
These combined efforts by the government aim to create a universal and affordable social security system, especially helping poor and at-risk people. You can visit the official Jansuraksha portal to check your eligibility and enroll in these schemes today.