India’s flagship social security initiatives, Finance Minister Nirmala Sitharaman on Saturday highlighted the massive impact of the Jan Suraksha schemes. Since their historic launch in 2015, the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and the Pradhan Mantri Suraksha Bima Yojana (PMSBY) have collectively settled claims amounting to approximately ₹25,160 crore, providing a crucial safety net for millions of Indian households.
Launched by Prime Minister Narendra Modi on May 9, 2015, the trio of Jan Suraksha schemes—PMJJBY, PMSBY, and the Atal Pension Yojana (APY)—were envisioned to bring affordable financial protection to the underserved and vulnerable sections of society. Over the past eleven years, these schemes have fundamentally transformed the insurance and pension landscape in India, fostering long-term financial resilience against life’s various uncertainties.
Providing a breakdown of the achievements, the Finance Minister noted the staggering scale of enrolment across the country. According to the latest data, PMJJBY has seen over 270 million enrolments, while the accident insurance scheme, PMSBY, has crossed the 580 million mark. Furthermore, the Atal Pension Yojana has successfully brought 90 million citizens into the fold of organized pension planning.
The social impact of PMJJBY has been particularly profound. The Finance Minister revealed that the scheme has settled claims worth more than ₹21,500 crore, directly benefiting over 1.07 million families during their most challenging times. By providing life insurance coverage at an affordable premium, PMJJBY has ensured that the loss of a breadwinner does not push a family into immediate financial ruin.
As these flagship schemes enter their second decade, they continue to serve as the bedrock of India’s social security framework. The government’s focus remains on broadening the reach of these services to ensure that every citizen, regardless of their economic background, has access to basic insurance and pension benefits. The success of these schemes reflects a robust model of financial inclusion that prioritizes the dignity and security of the common man, steering the nation toward a more resilient future.
