Financial Inclusion Push: Centre’s flagship social security schemes complete 11 years

Flagship social security schemes: Marking a pivotal milestone in extending financial protection and pension coverage to millions across India, the Centre’s flagship social security schemes PM Jeevan Jyoti Bima Yojana, PM Suraksha Bima Yojana and Atal Pension Yojana, have completed 11 years.

Schemes particularly targeted unorganised sector, low-income groups

Launched as part of the government’s financial inclusion and social security push, the three schemes have together provided insurance and pension benefits to crores of citizens, particularly those in the unorganised sector and low-income groups.

PMJJBY is a renewable one-year life insurance scheme that provides coverage for death due to any reason. Individuals aged between 18 and 50 years with a bank or post office account are eligible to enrol under the scheme.

Subscribers who join before the age of 50 can continue life coverage up to the age of 55 by paying the annual premium regularly.

Under the scheme, subscribers receive a life cover of Rs 2 lakh against an annual premium of Rs 436.

As of April 29, 2026, cumulative enrolments under PMJJBY have crossed 27.43 crore, while claims worth Rs 21,512.50 crore have been settled for over 10.75 lakh beneficiaries.

Pradhan Mantri Suraksha Bima Yojana

The Pradhan Mantri Suraksha Bima Yojana, provides accidental death and disability coverage. The scheme is available to individuals aged between 18 and 70 years having a bank or post office account.

PMSBY offers an insurance cover of Rs 2 lakh for accidental death or total disability and Rs 1 lakh for partial disability against an annual premium of Rs 20. Similar to PMJJBY.

As on April 29, 2026, cumulative enrolments under PMSBY have exceeded 58.09 crore. Claims amounting to Rs 3,667.52 crore have been paid against more than 1.84 lakh claims.

The Atal Pension Yojana (APY), administered by Pension Fund Regulatory and Development Authority under the National Pension System framework, was launched to create a universal social security system focused on workers in the unorganised sector. Subscribers can choose a guaranteed minimum monthly pension ranging from Rs 1,000 to Rs 5,000 after attaining the age of 60, depending on their contributions.

Subscribers can contribute monthly, quarterly or half-yearly and may voluntarily exit the scheme under specified conditions.

As of April 30, 2026, enrolments under Atal Pension Yojana have crossed 9.04 crore subscribers. The government said the three flagship schemes continue to strengthen the country’s social security architecture by providing affordable insurance and pension coverage to millions of citizens across urban and rural India.