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PMSBY, PMJJBY, and APY Complete 10 Years of Delivering Social Security Coverage in India.

National | Dated: 14 May 2025

The three schemes — Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), and Atal Pension Yojana (APY) — were launched by Prime Minister Shri Narendra Modi on 9th May 2015.

🎯 Key Highlights:

  • - All three schemes were envisioned to provide affordable financial protection to all, especially the underserved and vulnerable sections of society.
  • - These flagship schemes aim to broaden the insurance and pension landscape by safeguarding citizens against life’s uncertainties and enhancing long-term financial resilience.
  • - Over 23.6 crore, 51 crore, and 7.6 crore enrolments have been recorded under PMJJBY, PMSBY, and APY respectively till April 2025.

💡 Other Important Facts:

  • (i) The scheme is designed to provide life insurance cover in case of death due to any reason.
  • (ii) The scheme is managed by the Life Insurance Corporation of India (LIC), though participating banks or post offices may collaborate with any life insurance company for its implementation.
  • (iii) Individuals aged 18 to 50 years with accounts in participating banks or post offices can enroll in the scheme by consenting to auto-debit. The cover is valid for a one-year period from 1st June to 31st May.

📚 Test Your Knowledge:

How many years have PMSBY, PMJJBY, and APY recently completed in providing social security coverage in India?

Correct Answer: 10 years

🚀 Quick Recap: