Centre considering raising PMJJBY life cover from ₹2L to ₹5L
The government is thinking about bumping up the life insurance cover under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) from ₹2 lakh to ₹5 lakh.
This update is being discussed as the Jan Suraksha schemes mark 11 years since launch (launched May 9, 2015).
Right now, anyone aged 18-50 can get ₹2 lakh life cover for just ₹436 a year, pretty affordable for basic security.
M Nagaraju: affordability check, 57Cr covered
Before making it official, officials are checking if the higher coverage stays affordable and practical.
M Nagaraju from the Department of Financial Services shared that they're still running numbers to make sure it works out.
57 crore adults have been brought under the Jan Suraksha trio so far.
The Jan Suraksha trio also includes PMSBY (accident insurance at just ₹20 a year) and APY (pension plans for those who start early), making these schemes a solid safety net for millions.