Jan Suraksha Schemes: PMJJBY, PMSBY and APY at 10 Years
Why in the news
The three Jan Suraksha schemes completed ten years of affordable protection for weaker sections.
Comparison
| Feature | PMJJBY | PMSBY | APY |
|---|---|---|---|
| Cover | Life, any cause: ₹2 lakh | Accident: ₹2 lakh death or total disability; ₹1 lakh partial | Pension ₹1,000-₹5,000 a month after 60 |
| Age | 18-50 | 18-70 | 18-40 |
| Cost | ₹436 a year | ₹20 a year | Monthly, quarterly or half-yearly contributions |
| Run by | LIC and other life insurers | General insurers | PFRDA under NPS |
Other points
- Insurance runs 1 June to 31 May, renewable; premiums auto-debit from bank or post office accounts.
- APY is for unorganised workers who are non-income taxpayers; a spouse may continue if the subscriber dies early.
Exam angle
- Launch: 9 May 2015.
- APY regulator: PFRDA.