A Descriptive Study on Pradhan Mantri Suraksha Bima Yojana in Bilaspur District Chhattisgarh

Abstract

Humans encounter many risks in their daily lives. People who are economically disadvantaged have lack of the resources to meet their basic needs, and their lives are not safe from uncertainty. Their dependent families deal with a variety of risks arises due to various reason like accident, natural disaster, etc. There are currently about 141.72 crore people living in India as of 2022, but a sizable portion of the population lacks access to any kind of insurance plan. The Indian central government has taken the initiative to mandate insurance for low-income and unorganized workers in the country. In order to achieve this, the government-backed Pradhan Mantri Suraksha Bima Yojana was introduced in India. The objective of this program is to protect people with insurance policies and facilitates for social security. This study primarily focuses on the terms of policy, premiums for policy, policy benefits, and services that have made rural residentsaware of the significance of the insurance program.