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    Question

    With reference to the Pradhan Mantri Suraksha Bima

    Yojana (PMSBY), consider the following statements: 1. PMSBY was launched in 2015 to provide affordable accident insurance coverage of ₹2 lakh for accidental death or full disability at a premium of ₹20 per year. 2. The scheme has been closely linked to the Pradhan Mantri Jan Dhan Yojana (PMJDY) to enable easy enrolment through auto-debit. 3. National Insurance Company (NIC) accounts for nearly 40% of both enrolments and claim settlements under PMSBY. 4. The scheme is limited to people above 40 years of age in the rural and unorganised sector. Which of the statements given above is/are correct?
    A 1 and 2 only Correct Answer Incorrect Answer
    B 1, 2 and 3 only Correct Answer Incorrect Answer
    C 2 and 4 only Correct Answer Incorrect Answer
    D 1, 3 and 4 only Correct Answer Incorrect Answer
    E 1, 2, 3 and 4 Correct Answer Incorrect Answer

    Solution

    • Statement 1 – Correct: PMSBY was launched in May 2015, offering ₹2 lakh insurance coverage for accidental death or full disability, with an annual premium of just ₹20. • Statement 2 – Correct: To maximize outreach, PMSBY was integrated with the Pradhan Mantri Jan Dhan Yojana (PMJDY). This enabled auto-debit enrolment, particularly helping the rural and unorganised sector access insurance seamlessly. • Statement 3 – Correct: National Insurance Company (NIC) has played a leading role, accounting for 38% of enrolments and 40% of claim settlements, disbursing around ₹1,000 crore. • Statement 4 – Incorrect: PMSBY is not restricted to people above 40 years of age. In fact, it covers a much wider age group (18–70 years in the actual scheme design). The news report itself emphasizes that it primarily benefits the rural and unorganised sector, but without such an upper limit condition. Thus, the correct answer is 1, 2 and 3 only.

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