Template-Type: ReDIF-Article 1.0
Author-Name: R.Anitha
Author-Workplace-Name: Sri Sarada Niketan College of Science for Women
Title: A Descriptive Study on Prime Minister Modi's PMJJBY, PMSBY Insurance Schemes
Abstract: Insurance is a commercial means for relocating risks and covering fiscal losses. In India, a number of Government supported insurance schemes have been initiated over the last decade. Higher insurance penetration achieved through a widening of social security net will help increase domestic savings, which again can be used for infrastructure funding and other big-ticket development plans. The Indian insurance industry witnessed a great transformation when the Prime Minister Narendra Modi launched flagship schemes- Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeewan Jyoti Bima Yojana (PMJJBY). PMSBY is very much like a health insurance product offering you the accidental insurance cover of Rs 2 lacs with a nominal premium of Rs 12 per annum, while PMJJBY is a life insurance product offering you cover of Rs 2 lacs at a higher but very manageable yearly premium of Rs 330. This research is mainly made to know the impact and implementation of insurance schemes.
Keywords: Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana
Journal: Shanlax International Journal of Commerce
Pages: 183-191
Volume: 5
Issue: 4
Year: 2017
Month: October
File-URL: http://www.shanlaxjournals.in/pdf/COM/V5N4/COM_V5_N4_021.pdf
File-Format: Application/pdf
Handle: RePEc:acg:sijcom:v:5:y:2017:i:4:p:183-191