Finmin launches 3-month campaign to boost micro-insurance Schemes

New Delhi: To achieve saturation under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY), the Finance Ministry on Saturday launched a three-month campaign.

"A special 3 months campaign has been launched by DFS at Gram Panchayat Level covering all districts in the country to saturate all eligible persons under the PMJJBY and PMSBY w.e.f 1st April 2023 to the 30th June 2023," Department of Financial Services (DFS) said in a tweet.

Under the campaign, camps are going to be organised at the Gram Panchayat level across all districts in the country by the banks with active participation of the State administration and other Ministries of Government of India to ensure that benefits of the two Jan Suraksha schemes reach the masses.

Chief Secretaries of States/ UTs, Chairman/ MD and CEOs of Public Sector Banks (PSBs) have been advised to extend full support during the campaign, an official statement said.

Lead District Managers (LDMs) will lead the campaign in consultation with State/ UT Level Bankers Committees of the States/ UTs and District Magistrates/ Collectors of the Districts. Line Ministries of Government of India have been advised to utilise their field functionaries for identification and mobilisation of the Scheme beneficiaries for enrolment, it said.

All Nodal Officers from DFS have been instructed to participate in the special SLBC/ UTLBC meetings and to undertake field visits for monitoring the Gram Panchayat level saturation campaign, it added.

The PMJJBY offers life insurance cover of Rs 2 lakh in case of death due to any reason to people in the age group of 18-50 years having a bank or post office account, who give their consent to join or enable auto-debit of premium.

On the other hand, the PMSBY offers insurance cover of Rs 2 lakh for accidental death or total permanent disability and Rs 1 lakh for partial permanent disability to people in the age group of 18-70 years with a bank or post office account, who give their consent to join or enable auto-debit of premium.