Pradhan Mantri Jeevan Jyoti Bima Yojana (edit)
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{{Short description|Insurance policy by Government of India}} | |||
{{Use dmy dates|date=May 2019}} | {{Use dmy dates|date=May 2019}} | ||
{{Use Indian English|date=May 2019}} | {{Use Indian English|date=May 2019}} | ||
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| website = https://jansuraksha.gov.in/ | | website = https://jansuraksha.gov.in/ | ||
}} | }} | ||
'''Pradhan Mantri Jeevan Jyoti Bima Yojana''' ( | '''Pradhan Mantri Jeevan Jyoti Bima Yojana''' (English translation: Prime Minister Jeevan Jyoti Insurance Scheme) is a government-backed [[Life insurance]] scheme in India. It was originally mentioned in the year [[2015 Union budget of India|2015 Budget speech]] by Finance Minister [[Arun Jaitley]] in February 2015.<ref name=Woes>{{cite news|title=Jan Suraksha: Social security for masses, pricing woes for insurers|url=http://www.business-standard.com/article/current-affairs/jan-suraksha-social-security-for-masses-pricing-woes-for-insurers-115050900786_1.html|access-date=9 May 2015|work=[[Business Standard]]|date=9 May 2015}}</ref> It was formally launched by Prime Minister [[Narendra Modi]] on 9 May in [[Kolkata]].<ref name=Advertise>{{cite news|title=Banks advertise Pradhan Mantri Bima Yojana ahead of the roll out|url=http://www.livemint.com/Money/n6uNxsGr1kytGMNBXklVTI/Banks-advertise-Pradhan-Mantri-Bima-Yojana-ahead-of-the-roll.html|access-date=9 May 2015|work=[[Live Mint]]|date=8 May 2015}}</ref> As of May 2015, only 20% of India's population has any kind of insurance, this scheme aims to increase the number.<ref name=ZeroBalance/> | ||
Pradhan Mantri Jeevan Jyoti Bima Yojana is available to people between 18 and 50 years of age with bank accounts. It has an annual premium of {{INRConvert|330}}. The GST is exempted on Pradhan Mantri Jeevan Jyoti Bima Yojana. The amount will be automatically debited from the account. In case of death due to any cause, the payment to the nominee will be {{INRConvert|2|l}}.<ref name=Woes/><ref name=Advertise/> | Pradhan Mantri Jeevan Jyoti Bima Yojana is available to people between 18 and 50 years of age with bank accounts. It has an annual premium of {{INRConvert|330}}. The GST is exempted on Pradhan Mantri Jeevan Jyoti Bima Yojana. The amount will be automatically debited from the account on or before 31st of May every year. Period for which insurance covered is 12 months i.e, from 1 June till 31 May. Those who register for auto debit facility will have auto renewal up to 55 years. However, a person over age 50 cannot register to this scheme. There is no need for a person to submit health report or cerficate while joining to this scheme. In case of death due to any cause, the payment to the nominee will be {{INRConvert|2|l}}.<ref name=Woes/><ref name=Advertise/> In order to avail of the benefits offered by the '''Pradhan Mantri Jeevan Jyoti Bima Yojana''' [[policy]], it is mandatory to link your [[Aadhaar|aadhaar card]] to the participatory [[bank account]]. | ||
This scheme will be linked also to the bank accounts opened under the [[Pradhan Mantri Jan Dhan Yojana]] scheme. Most of these account had zero balance initially. The government aims to reduce the number of such zero balance accounts by using this and related schemes.<ref name=ZeroBalance>{{cite news|title='Jan Suraksha schemes to help eliminate Jan Dhan's zero balance accounts'|url=http://www.business-standard.com/article/news-ians/jan-suraksha-schemes-to-help-eliminate-jan-dhan-s-zero-balance-accounts-115050801384_1.html|access-date=9 May 2015|work=[[Business Standard]]|date=8 May 2015}}</ref> | This scheme will be linked also to the bank accounts opened under the [[Pradhan Mantri Jan Dhan Yojana]] scheme. Most of these account had zero balance initially. The government aims to reduce the number of such zero balance accounts by using this and related schemes.<ref name=ZeroBalance>{{cite news|title='Jan Suraksha schemes to help eliminate Jan Dhan's zero balance accounts'|url=http://www.business-standard.com/article/news-ians/jan-suraksha-schemes-to-help-eliminate-jan-dhan-s-zero-balance-accounts-115050801384_1.html|access-date=9 May 2015|work=[[Business Standard]]|date=8 May 2015}}</ref> | ||
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==Results== | ==Results== | ||
As of 31 March 2019, 5.92 crore people have already enrolled for this scheme. 1,35,212 claims have been disbursed amounting to a total of ₹2,704.24 crore.<ref>{{cite web|url=https://indianexpress.com/article/explained/enrolment-and-claims-in-flagship-life-accident-insurance-schemes-6158854/|title=Telling Numbers: Enrolment and claims in flagship life, accident insurance schemes| website=Jan Suraksha|access-date=30 April 2017}}</ref> | As of 31 March 2019, 5.92 crore people have already enrolled for this scheme. 1,35,212 claims have been disbursed amounting to a total of ₹2,704.24 crore.<ref>{{cite web|url=https://indianexpress.com/article/explained/enrolment-and-claims-in-flagship-life-accident-insurance-schemes-6158854/|title=Telling Numbers: Enrolment and claims in flagship life, accident insurance schemes| website=Jan Suraksha|access-date=30 April 2017}}</ref> As per news report <ref name=":0">{{Cite web|date=2021-06-14|title=Revealed by RTI: PM Jeevan Jyoti Bima Yojana Not Working Even in COVID Crisis|url=https://www.newsclick.in/revealed-rti-pm-jeevan-jyoti-bima-yojana-not-working-even-covid-crisis|access-date=2021-06-14|website=NewsClick|language=en}}</ref> from 2021, the scheme has specifically failed during the COVID-19 crisis where the country suffered an unusually high number of deaths.<ref>{{Cite news|last=Gamio|first=Lazaro|last2=Glanz|first2=James|date=2021-05-25|title=Just How Big Could India’s True Covid Toll Be?|language=en-US|work=The New York Times|url=https://www.nytimes.com/interactive/2021/05/25/world/asia/india-covid-death-estimates.html|access-date=2021-06-14|issn=0362-4331}}</ref> The article cites some possible reasons for this failure: | ||
* There is very small window of 30 days post-death (with the caveat "preferably") to apply for the claim, therefore most claims are rejected if received after 30 days | |||
* There is no policy document or any other document is given under PMJJBY, which is why families do not even know that there is such a policy under which they can claim insurance, which is one reason why they are deprived of the scheme's benefits. There is absence of clear "guidance manual" on how to apply for claims. Therefore, a large number of nominees and family members of the deceased who had taken the PMJJBY policy are not aware of it as also whether the premium was paid or not. | |||
* It is impractical to arrange for several documents such death proof, discharge slip from hospital, premium statement from bank within 30 days | |||
* There are a large number of accounts in which the nominee is not linked. In such a situation, the family has to go through a lengthy legal process separately, which takes ages. Therefore, it is necessary to simplify the claim process and increase the claim amount so that the nominee and the family can get some immediate help out of the deep financial crisis. | |||
* There is no monitoring system specifically for PMJJBY set up by the Central Govt. No grievance redressal mechanism has been created | |||
In short, there is less awareness of the scheme, no guidance or policy manual, tight restrictions and the less educated and poor beneficiaries have to run pillar to post to take advantage of the scheme's benefit.%<ref name=":0" /> | |||
==See also== | ==See also== | ||
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[[Category:2015 introductions]] | [[Category:2015 introductions]] | ||
[[Category:2015 in India]] | [[Category:2015 in India]] | ||