Government Insurance Schemes in India

The Government of India has launched multiple insurance schemes for various industries to provide financial protection and social security to different sections of society (poor, farmers, workers, and senior citizens). Usually, these schemes are categorized into health insurance, life insurance, crop and agriculture insurance, pension schemes, and other social security initiatives.

Key Objectives of these Government Insurance Schemes

• Financial Inclusion – It will extend the insurance coverage to underserved and economically weaker sections of society.
• Risk mitigation – The Government of India is protecting this weaker section of society by protecting them against the risks of loss of their life, health or agricultural crops so that they can stay more productive without having to worry.
• Social Security – With schemes like pension and income support plans, the Government of India is providing social security to the marginalised with an income stream in their elderly and vulnerable stage of life.
• Affordability – Basically, the premiums are very low and will not burn the pocket of the policyholders.

List of Government Insurance Schemes In India

• Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PM-JAY)
• Central Government Health Scheme (CGHS)
• Rashtriya Swasthya Bima Yojana (RSBY)
• Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
• Pradhan Mantri Suraksha Bima Yojana (PMSBY)
• Pradhan Mantri Fasal Bima Yojana (PMFBY)
• Pradhan Mantri Shram Yogi Maan-Dhan (PM-SYM)
• National Pension Scheme (NPS)
• Atal Pension Yojana (APY)
• Pradhan Mantri Laghu Vyapari Maan-Dhan Yojana
• Employees’ State Insurance Scheme (ESIS)
• Janashree Bima Yojana (JBY)

These government insurance schemes play a vital role in India’s social and economic development by providing financial and social security and promoting growth.