Objective of the scheme:  financial inclusion by achieving penetration of insurance down to the weaker sections of the society.

Salient features of the scheme



Payment Mode:

Risk Coverage

Terms of Risk Coverage

Nodal agency to implement

Government Contribution

  • The scheme was launched in 2015.Available to people in age group 18 to 70 years with a bank account.
  •  Rs.12 per annum.
  • The premium will be directly auto-debited by the bank from the subscribers account. This is the only mode available.
  • For accidental death and full disability - Rs.2 Lakh and for partial disability – Rs.1 Lakh.
  • A person has to opt for the scheme every year. He can also prefer to give a long-term option of continuing in which case his account will be auto-debited every year by the bank.
  • The scheme will be offered by all Public Sector General Insurance Companies and all other insurers who are willing to join the scheme and tie-up with banks for this purpose.
  •  Various Ministries can co-contribute premium for various categories of their beneficiaries from their budget or from Public Welfare Fund created in this budget from unclaimed money. This will be decided separately during the year.
  • Common Publicity Expenditure will be borne by the Government.