New Delhi, December 14, 2024: The Pradhan Mantri Suraksha Bima Yojana (PMSBY) has seen remarkable success, with 48 crore Indians now enrolled in the Rs 2 lakh accident insurance scheme. Launched in 2015, PMSBY offers affordable accident insurance for individuals aged 18 to 70, providing coverage for accidental death, permanent disability, or partial disability, all for a nominal premium of Rs 12 annually.
This achievement is part of the government’s wider push to increase insurance penetration, particularly in rural and economically disadvantaged areas. More than 71% of the enrollees are from rural regions, and 48% of the beneficiaries are women, demonstrating the scheme’s reach and its impact on vulnerable populations. The initiative has provided a crucial financial safety net, particularly during unforeseen circumstances like accidents.
The scheme’s simplicity is one of its key advantages. Premiums are automatically debited from enrollees’ bank accounts, a feature linked with the Jan Dhan Yojana, which has helped expand access to financial services. Building on this success, the government aims to extend coverage even further, strengthening financial security across the nation.
