The Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a scheme that offers insurance coverage to individuals of all income levels, provided they have a bank or post office account and fall within the age bracket of 18 to 70 years. This initiative aims to extend financial protection to a wide range of people across the country.
In a recent written response to a question in Rajya Sabha, Dr. Bhagwat Kisanrao Karad, the Union Minister of State for Finance, highlighted the scheme’s progress. According to the latest data as of June 28, 2023, insurance companies have successfully settled a significant number of claims under the PMSBY scheme, totaling 1,19,224. This indicates that a considerable number of individuals have benefited from the insurance coverage provided by the program, helping them deal with unforeseen emergencies and financial challenges.
However, it’s important to note that some claims have also been rejected by insurance companies. As of June 28, 2023, the total count of rejected claims stands at 30,549. While this number may seem significant, it’s essential to consider that insurance companies follow stringent guidelines and criteria to determine claim eligibility, ensuring the proper utilization of resources and maintaining the integrity of the scheme.
The PMSBY has proven to be a valuable financial safety net for many people, providing them with much-needed security and peace of mind. The government’s efforts to make insurance accessible to a diverse range of individuals, regardless of their income, have contributed to its success in reaching a large section of the population. By continually evaluating and refining the scheme’s implementation, the government aims to further improve the efficacy of the PMSBY, ensuring a reliable safety net for citizens across the nation.
