Objective of providing insurance services to the economically weaker section of society. Keeping in mind the lower income group, premium of these schemes have been kept fairly low, so that benefit of these schemes can reach far and wide to the unreached.
Schemes launched by GOI
- Pradhan Mantri Jan Dhan Yojana (PMJDY) financial inclusion program for 10 to 65 years age group, that aims to expand and make affordable access to financial services such as bank accounts, remittances, credit, insurance and pensions.
- Pradhan Mantri Jeevan Jyoti Bima Yojna (PMJJBY) is a one year Life Insurance Scheme, which is annually renewable, and it provides coverage of Rs. 2 lakh in case of death due to any reason.
- Pradhan Mantri Suraksha Bima Yojana (PMSBY) is one year Personal Accident Insurance Scheme.coverage of Rs.2 lakh in case of death or permanent total disability and rs one lakh for permanent partial disability due to an accident.
- Atal PensionYojna (APY) provides income security, for old people. Government guarantees minimum monthly pension ranging from Rs. 1,000 to Rs. 5,000 from 60 years onwards to the subscriber.
- Pradhan Mantri Vaya Vandana Yojana (PMVVY) to protect elderly persons aged 60 years and above against a future fall in their interest income due to the uncertain market conditions, as also to provide social security during old age. assured return of 8% per annum for 10 years.
- Pradhan Mantri Fasal Bima Yojana (PMFBY) and Restructured Weather Based Crop Insurance Scheme (RWBCIS) provide comprehensive crop insurance cover against non-preventable natural risks at an affordable rate to farmers.Uniform maximum premium of only 2%, 1.5% and 5% of the sum insured to be paid by farmers for all Kharif crops, Rabi crops and commercial/horticultural crops respectively.
- Pradhan Mantri Jan Arogya Yojana (PMJAY) a centrally sponsored scheme provides health coverage upto Rs. 5 lakh per family, per year for secondary and tertiary hospitalization to over 10.74 crore poor and vulnerable families (approximately 50 crore beneficiaries)
- Swachhta Udyami Yojana extends financial assistance for Construction, Operation and Maintenance of Pay and Use Community Toilets in Public Private Partnership (PPP) Mode and Procurement and Operation of Sanitation related Vehicles.
- NSFDC’s Green Business Scheme providing financial assistance keeping into the concern for the climate change, loan for unit cost upto Rs.1 lakh at concessional rate of interest will be provided to Scheduled Castes for activities such as e- rickshaw, Solar Pump and Solar energy powered implements, poly house etc.
- Credit Enhancement Guarantee Scheme for the Scheduled Castes promote entrepreneurship amongst the scheduled castes and to facilitate concessional finances to them.Rs. 200 crores has been allocated to IFCI Limited to facilitate the scheme.