The Centre’s flagship insurance and pension programmes have significantly strengthened financial security for millions of Indians, with the government marking 11 years since the rollout of major welfare initiatives under the NDA administration.
In a post on social media platform X, Prime Minister Narendra Modi said the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and the Pradhan Mantri Suraksha Bima Yojana (PMSBY) symbolised the government’s commitment to providing “dignity, assurance and financial security” to citizens, especially the poor and vulnerable.
“On this day, 11 years ago, key social security and pension schemes were launched by the NDA Government. They reflect our commitment to bring dignity, assurance and financial security into the lives of the people of India,” the Prime Minister said.
Highlighting the reach of the two schemes, Modi noted that their impact had been widely felt at the grassroots level. “This thread highlights that the PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana have had a positive impact at the grassroots,” he added.
Launched on May 9, 2015, PMJJBY and PMSBY were introduced as part of the Centre’s broader financial inclusion push linked to the Jan Dhan initiative. The schemes aimed to provide affordable life and accident insurance to low-income households and workers in the unorganised sector who previously lacked access to formal social security coverage.
Under PMJJBY, individuals aged 18 to 50 receive life insurance coverage of Rs 2 lakh in the event of death from any cause, for a nominal annual premium. PMSBY offers accidental death and disability coverage of Rs 2 lakh for people aged 18 to 70 at a low yearly premium.
Alongside initiatives such as the Atal Pension Yojana, the Modi government promoted these schemes as central pillars of its welfare and financial inclusion framework. Over the years, government data has shown growing enrolment, particularly in rural regions, supported by extensive outreach through public sector banks and financial institutions.
The Prime Minister’s remarks come as the NDA government highlights its welfare and social sector achievements ahead of completing the first year of its third term in office.