This week marks the tenth anniversary of the Modi government's flagship Jan Suraksha programs, and the Center is considering a proposal to significantly increase insurance coverage and benefits under the programs, which have grown to be the foundation of India's social security system for low-income households and workers in the unorganised sector.
The Times of India reported on May 8 that the government is examining the financial effects of raising the insurance coverage under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and the Pradhan Mantri Suraksha Bima Yojana (PMSBY) to as much as Rs 5 lakh from the current Rs 2 lakh, citing officials familiar with the talks.In light of growing healthcare expenses, inflation, and public awareness of financial protection, officials are working to bolster the safety net for millions of beneficiaries.
The three Jan Suraksha programs—PMJJBY, PMSBY, and the Atal Pension Yojana (APY)—remain essential to the government's financial inclusion plan, according to Department of Financial Services secretary M Nagaraju. Over the past ten years, the programs have combined to bring around 57 crore adults into the formal social security system.
Before making a final decision on changing the benefits, Nagaraju claims that officials are now looking at a number of situations pertaining to affordability, premium pricing, and operating costs. In order to evaluate the effects of increasing the insured amount, a discussion paper has already been sent around insurance companies.The Jan Suraksha initiatives were introduced on May 9, 2015, with the goal of providing low-cost insurance and pension products to workers in the unorganised sector, many of whom previously had little or no access to formal financial security.
People between the ages of 18 and 50 can get life insurance through their bank accounts under PMJJBY by paying an annual cost of Rs 436. In the case of death from any cause, the scheme currently provides a life insurance policy worth Rs 2 lakh.
Targeting unintentional risks, PMSBY offers insurance coverage of Rs 1 lakh for partial disability and Rs 2 lakh for accidental death or total disability.People between the ages of 18 and 70 are eligible to participate in the scheme, which has an annual premium of just Rs 20.
The Atal Pension Yojana, the third pillar of the Jan Suraksha framework, aims to secure old age income. Depending on subscriber contributions, the pension plan ensures a fixed monthly annuity between Rs 1,000 and Rs 5,000 at the age of 60. It offers advantages to spouses and nominees and is available to citizens between the ages of 18 and 40.
According to government representatives, one of these programs' unique characteristics is that, despite their social welfare goals, they function on a commercial basis without receiving direct funding from the central government. Through enrollment-linked administration and premium collections, banks and insurance firms oversee the programs.

These initiatives, together with Jan Dhan accounts and direct benefit transfer systems, have been a key component of the government's larger financial inclusion drive over the last ten years. Increasing the insurance coverage, according to officials, might assist increase the adequacy of protection for economically vulnerable families, particularly in rural areas where a single earner frequently supports a whole home.
Although the government is anticipated to make sure that the schemes remain cheap for low-income subscribers, industry insiders stated that any rise in the sum insured will probably necessitate recalibration of prices. Before making final recommendations, insurers are also assessing long-term sustainability, persistency ratios, and claim trends.

As the government commemorates the tenth anniversary of the Jan Suraksha programs, which policymakers claim have greatly enlarged India's social safety system at minimum cost to recipients, more discussion of the planned adjustment is anticipated.