96.55 pc claims under PM Suraksha Bima Yojana settled: Official

New Delhi [India], March 25 (ANI): The central government has settled 96.55 per cent of claims under PM Suraksha Bima Yojana till February, amounting to Rs 2, 610 crore, officials informed.An official at the Finance Ministry said as many as 1.73 lakh claims have been settled under the scheme since its launch in 2015.

PM Suraksha Bima Yojana is a scheme offering insurance coverage on account of death or disability due to an accident.

So far, 43.29 crore people have been insured under the scheme, as per the official.

"As of February 29, 2024, 1.73 lakh claim pairs amounted to Rs 2610 crore. The claim settlement ratio is 96.55 per cent," the official told ANI.

The Pradhan Mantri Suraksha Bima Yojana was launched on May 9, 2015, by PM Narendra Modi.

It intends to provide an affordable insurance scheme for the people belonging to the underprivileged sections of society.

PMSBY is a one-year accidental insurance scheme renewable from year to year, offering coverage for death or disability due to an accident.

People in the age group of 18-70 who have a savings bank account or a post office account are entitled to enrol under the scheme.

PMSBY is a one-year accidental insurance scheme that offers death or disability coverage for people who enroll in the scheme.

The premium is Rs. 20 per year per member, and coverage is valid for one year from June 1 to May 31. The amount insured in the event of death is Rs. 2 lakhs, and the final amount insured is Rs. 1 lakh in situations of loss of an eye or limb.(ANI)