Question
Regarding the merger of government insurance schemes for
fisherfolk, consider these statements: 1. The merged scheme will be completely unsubsidized by the government. 2. Pradhan Mantri Suraksha Bima Yojana initially offered ₹2 lakh coverage for accidental death. 3. The comprehensive coverage under the merged scheme amounts to ₹5 lakh. Which of the statements above is/are correct?Solution
Statement 1 is incorrect; the scheme is fully subsidized. Statements 2 and 3 are correct. • Government will merge Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Group Accident Insurance Scheme (GAIS) for fisherfolk from June 1. • The merger aims to reduce premium burden and ease implementation. • Provides ₹5 lakh comprehensive insurance coverage: ₹3 lakh under GAIS for accidental death or permanent total disability and ₹2 lakh under PMSBY. • Previously, PMSBY offered ₹2 lakh coverage, and GAIS provided ₹5 lakh. • Fully subsidized scheme, with no premium required from fisherfolk, entirely borne by the government. Learn Along: About Pradhan Mantri Suraksha Bima Yojana • Pradhan Mantri Suraksha Bima Yojana is a government-backed accident insurance scheme in India. • It was originally mentioned in the 2015 Budget speech by Finance Minister Late Arun Jaitley in February 2015. • It was formally launched by the Prime Minister Narendra Modi on 8 May 2015 in Kolkata. About Group Accident Insurance Scheme • In 2020-21 under PMMSY, Government brought in Group Accident Insurance Scheme (GAIS) as a beneficiary oriented centrally sponsored scheme to offer insurance to fishers including fishermen, fisherwomen, fish workers, fish farmers, and others directly involved in fishing and fisheries-related allied activities within the age group of 18 to 70 years. • GAIS offers insurance coverage of Rs. 5.00 lakh against accidental death or Permanent Total Disability (PTD), Rs. 2.50 lakh against Permanent Partial Disability (PPD), and Rs. 25,000 against accidental hospitalization. • No beneficiary contribution is required as the premium is fully funded by the Central and respective State/UT Governments.
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