Pradhan Mantri Jeevan Jyoti Bima Yojana

• Scheme: PMJJBY is a one-year life insurance Scheme renewable from year to year, offering coverage for death due to any reason.  
• Eligibility: Individuals in the age group of 18-50 years having a savings bank or a post office account are entitled to enroll under the Scheme. People who join the Scheme before completing 50 years of age can continue to have the risk of life covered up to age of 55 years upon payment of premium.  
• Benefits: Life cover of Rs 2 Lakh in case of death due to any reason against a premium of Rs 436 per annum.
• Enrolment: Enrolments under the Scheme can be done by visiting the branch/Banking Correspondent point or website of the bank of the account holder or at the post office in case of a post office savings bank account. 

Pradhan Mantri Suraksha Bima Yojana

• Scheme: PMSBY is a one-year accidental insurance Scheme renewable from year to year, offering coverage for death or disability due to accident.  
• Eligibility: Individuals in the age group of 18-70 years having a savings bank or a post office account are entitled to enroll under the Scheme.  
• Benefits: Accidental death and disability cover of Rs 2 lakh (Rs 1 lakh in case of partial disability) for death or disability due to an accident against a premium of Rs 20 per annum.
• Enrolment: Enrolment under the Scheme can be  done by visiting the branch/Banking Correspondent point or website of the bank of the account holder or at the post office in case of a post office savings bank account. 

Atal Pension Yojana 

• APY was launched to create a universal social security system for all Indians, especially the poor, the under-privileged and the workers in the unorganised sector. 
• It is an initiative of the Government to provide financial security and cover future exigencies for the people in the unorganised  sector. 
• APY is administered by Pension Fund Regulatory and Development Authority (PFRDA) under the overall administrative and institutional architecture of the National Pension System (NPS).  
• Eligibility: APY is open to all bank account holders in the age group of 18 to 40 years and the contributions differ, based on the pension amount chosen.  
• Benefits: Subscribers would receive the guaranteed minimum monthly pension of Rs 1000 or Rs 2000 or  Rs 3000 or Rs 4000 or Rs 5000 at the age of 60 years, based on the contributions made by the subscriber after joining the Scheme. 
• Contribution by Central Government: The minimum pension would be guaranteed by the Government, i.e., if the accumulated corpus based on contributions earns a lower than estimated return on investment and is inadequate to provide the minimum guaranteed pension, the Central Government would fund such inadequacy. Alternatively, if the returns on investment are higher, the subscribers would get enhanced pensionary benefits.  
• Withdrawal from the Scheme: Subscribers can voluntarily exit from APY subject to certain conditions, on deduction of Government co-contribution and return/ interest thereon.  

Why in News?

• Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY) have completed 8 years of implementation.
• All these schemes were introduced in 2015.

https://pib.gov.in/PressReleasePage.aspx?PRID=1922622