Revamp Govt’s two key insurance schemes: PM directs officials

insurance schemes

Prime Minister Narendra Modi has asked for a revamp of two key insurance schemes backed by the authorities to make the whole claim agreement process to be had on a digital platform and make sure timely and automated bills to all policyholders.


Within these 2 government schemes; Pradhan Mantri Jeevan Bima Yojana and Pradhan Mantri Suraksha Bima Yojana nearly 220 million people are covered, launched in 2015.

Both of these schemes were reviewed by the PM on January 22 and according to minutes of that meeting, the PM asked for a digital platform to be created to settle all claims under the two schemes. “The Department of Financial Services, states and UTs (Union Territories), banks and insurance companies should develop a mechanism to make automatic, hassle-free and timely payment to policyholders,” the PM said, as per the minutes.

The Department of Financial Services was also requested to “revisit the criteria and policy of the lien period” in each the policies. The government had brought a lien clause within the PMJJBY and PMSBY, specifying that insurers do no longer should settle claims in case of death for the duration of the first 45 days of enrolment beneath the scheme, besides in case of Pradan accident.


This clause has led to complaints from people, according to people aware of the matter. “Department of Financial Services and banks should sensitize their officers to increase efficiency and effectiveness for dealing with grievances,” say the minutes, recording the PM’s directions. The PM also directed the department, along with banks and insurance companies, to “strive to cover more people under the scheme.”

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