India, Aug. 18 -- The Government of India issued the following news release:
The increase in Foreign Direct Investment in Indian insurance companies from 74% to 100% has been announced in the Union Budget on 1st February, 2025.
To create universal and afford able social security system, especially for the poor and the under-privileged, the government of India has launched flagship insurance schemes such as:
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) offers insurance coverage of Rs 2 lakhs to the people in the age group of 18-50 years in case of death of the insured, due to any reason, at an annual premium of Rs 436/-.
Pradhan Mantri Suraksha Bima Yojana (PMSBY) offers insurance coverage to the people in the age group of 18-70 years for Rs. 2 lakhs in case of accidental death or total permanent disability and Rs. 1 lakh for partial permanent disability; due to accident, at a premium of Rs. 20 per annum.
Pradhan Mantri Jan Arogya Yojana(PMJAY) offers a health cover of rs 5lakh per family per year for secondary and tertiary care hospitilisation.
Pradhan Mantri Fasal BimaYojana(PMFBY) offers safe guards to farmers against crop losses caused by unpredictable natural hazards. Under the scheme, premium paid by farmers is capped at 2% for Kharif,1.5% for Rabi and 5% for commercial/horticultural crops.
These schemes are open to all eligible citizens of India including SC,ST and OBCs.
The rest of the document can be viewed at https://www.pib.gov.in/PressReleasePage.aspx?PRID=2157540
Disclaimer: Curated by HT Syndication.
