PM Suraksha Bima Yojana sees 443% surge in enrolments

New Delhi [India], May 9 : The Ministry of Finance on Friday said the Prime Minister Suraksha Bima Yojana witnessed a rise of 443 per cent in its customer base from March 2016 to April 2025.

"Ensure financial stability for your loved ones with PM Suraksha Bima Yojana! Cumulative enrolments under PMSBY have risen by 443%, from 9.40 Cr in March 2016 to 51.06 Cr in April 2025. Affordable security at just Rs20 per year! #10YearsofJansurakshaSchemes #10YearsofPMSBY," the Ministry of Finance said in a post on the social media site 'X'.

The scheme saw enrolments climb to 15.47 crore by March 2019, 28.19 crore in March 2022, and 50.78 crore in March 2025, culminating in the current tally of 51.06 crore by April 23, 2025.

PMSBY is a government-backed accident insurance scheme in India that provides financial protection in case of death or disability to the subscriber due to an accident. The plan offers a sum assured of Rs 2 lakh at a nominal premium of Rs 20 per year.

The scheme is available to all those in the age group of 18 to 70 years, with a bank or post office account. The eligible candidates have to give their consent to enable auto debit of the premium from their bank account. With automatic debits, the permission of the account holder is given to the firm, which can then debit funds from the person's bank account.

The government also has several other social benefits schemes similar to this one, which includes the Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) provides an annual health cover of Rs. 5 lakh per eligible family for secondary and tertiary care hospitalization. It is a completely cashless and paperless scheme.

Pradhan Mantri Shram Yogi Maan-Dhan (PM-SYM) pension scheme, launched in 2019, aims to offer old-age protections. It provides a monthly pension of Rs 3,000 after attaining the age of 60 years to the eligible candidates.

The government had also launched an e-Shram portal last year, with an objective to create a National Database of unorganised workers.

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