With rising prices and an uncertain future, insurance and health protection have become essential for everyone. Many people avoid insurance, thinking that premiums are too high, but that’s not always the
case. The central government has launched several schemes with annual premiums under Rs 100, offering benefits worth lakhs.
The best part is that joining these schemes doesn’t involve complicated formalities. You can register with basic documents such as a bank account or an Aadhaar card. Schemes like Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (PM-JAY), Aam Aadmi Bima Yojana (AABY), and the Niramaya Health Insurance Scheme are proving valuable for everyone, from poor to middle-class families.
Many miss out on these benefits due to a lack of information, but being aware of the schemes can provide strong financial security. Here’s a detailed look at each scheme:
Pradhan Mantri Suraksha Bima Yojana (PMSBY)
This is a low-cost accident insurance scheme.
- Premium: Rs 20 per year, deducted directly from your bank account.
- Coverage: Rs 2 lakh for death or total disability due to an accident and Rs 1 lakh for partial disability.
- Eligibility: People aged 18 to 70 years.
PMSBY provides financial support to families in case of road accidents, workplace accidents, or other emergencies.
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
A simple and affordable life insurance scheme.
- Premium: Rs 436 per year.
- Coverage: Rs 2 lakh to the family in the event of the insured person’s death.
- Eligibility: People aged 18 to 50, with coverage continuing up to age 55.
PMJJBY is a strong life insurance support, especially for low-income families.
Ayushman Bharat Scheme
This scheme aims to provide better health services to poor and vulnerable groups.
- Eligible families receive treatment in government and listed private hospitals.
- Covers major expenses for serious illnesses, surgeries, and long-term treatments.
- Helps families avoid falling into debt due to medical costs.
Pradhan Mantri Jan Arogya Yojana (PM-JAY)
An important component of Ayushman Bharat.
- Coverage: Up to Rs 5 lakh per year for eligible families.
- Includes hospital admission, surgeries, tests, medicines, and follow-up treatments.
- Premium: None; treatment is completely cashless.
Millions have already benefited from free treatment under this scheme.
Aam Aadmi Bima Yojana (AABY)
This scheme is primarily for people working in the rural and unorganised sectors.
- Premium: Very low or zero.
- Coverage: Rs 30,000 for natural death and up to Rs 75,000 for accidental death or total disability.
AABY provides reliable financial security for poor families during difficult times.
Niramaya Health Insurance Scheme
Designed for people with disabilities, this scheme covers:
- Treatment, medicines, therapy, and other health services.
- Health needs related to mental, physical, and intellectual disabilities.
- Premium: Nominal.
For low-income families, the Niramaya scheme offers significant relief and ensures access to essential healthcare.
These schemes make insurance and health protection affordable and accessible, ensuring financial support for families during emergencies. Even a small amount in annual premiums can provide benefits worth lakhs, making awareness and enrolment crucial.
