Amid rising inflation and an uncertain future, insurance and health protection are now essential for everyone. Many people stay away from insurance due to the fear of high premiums. But the reality is that the government has launched several schemes where benefits of several lakhs of rupees can be obtained for a premium of less than ₹100 per year.
These government insurance schemes have been designed in such a way that they are easy to use and there is very little paperwork. Registration can be done easily using basic documents like a bank account or Aadhaar card. As a result, financial security is now within reach of everyone, from low-income families to the middle class.
Pradhan Mantri Suraksha Bima Yojana (PMSBY):
Pradhan Mantri Suraksha Bima Yojana is a low-cost accident insurance scheme, where the annual premium is just ₹20. This amount is automatically deducted from the bank account. This scheme provides coverage of up to ₹2 lakh in case of accidental death or permanent total disability. In addition, a maximum benefit of ₹1 lakh is provided for partial disability. This scheme is applicable to people between the ages of 18 and 70.
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Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY):
Pradhan Mantri Jeevan Jyoti Bima Yojana is an affordable life insurance scheme with an annual premium of just ₹436. In the event of the death of the insured, his family gets a financial assistance of ₹2 lakh. The scheme is open to people between the ages of 18 and 50 and the coverage is available till the age of 55.
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Ayushman Bharat and Pradhan Mantri Jan Arogya Yojana (PM-JAY):
Ayushman Bharat has been launched to provide better healthcare to poor and vulnerable families across the country. One of its main components is that under Pradhan Mantri Jan Arogya Yojana (PM-JAY), eligible families get health insurance coverage of up to ₹5 lakh per year. This coverage also includes hospitalization, surgery, medicines, various tests and follow-up services after treatment. Cashless treatment is available in government and listed private hospitals.
Aam Aadmi Bima Yojana (AABY):
Aam Aadmi Bima Yojana is mainly aimed at people living in rural areas and workers in the unorganised sector. This scheme provides life insurance coverage at very low or zero premiums. In case of natural death, a maximum financial assistance of ₹30,000 is available and in case of accidental death or permanent disability, a maximum benefit of ₹75,000 is provided.
Niramaya Health Insurance Scheme:
Niramaya Health Insurance Scheme has been specially designed to meet the healthcare needs of persons with disabilities. Under this scheme, the cost of treatment, medicines and various health services related to physical, mental and intellectual disabilities is covered. This benefit is available at a nominal premium, which brings great relief to low-income families.
Avijit
A digital media professional with 4 years of experience, skilled in online content creation, media and information work, his goal is to regularly bring updates on government projects, scholarships and jobs to his readers.
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