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“Bima Yojana” is a term used to describe a set of insurance schemes launched and supported by the Government of India. These schemes aim to provide financial security and social protection to the underprivileged, farmers, labourers, and low-income families.
Launched under the broader mission of financial inclusion, these schemes help citizens get access to life insurance, health insurance, accidental coverage, and crop insurance at nominal premiums.
Major Bima Yojana Schemes in India (2025)
Here are the most impactful and widely used Bima Yojana schemes as of 2025:
1. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
- Coverage: ₹2 lakh life insurance cover
- Eligibility: Age 18–50 years
- Annual Premium: ₹436
- Mode of Payment: Auto-debit from savings account
- Claim: Payable to the nominee in case of death
Highly affordable term insurance plan for breadwinners in low-income households
Click here to know more about PMJJBY
2. Pradhan Mantri Suraksha Bima Yojana (PMSBY)
- Coverage: ₹2 lakh for accidental death/disability
- Eligibility: Age 18–70 years
- Annual Premium: ₹20
- Renewal: Annually with an auto-debit facility
- Claim Process: Quick claim with minimum documentation
The most cost-effective accident insurance scheme in India
Click here to know more about PMSBY
3. Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana (PMJAY)
- Coverage: ₹5 lakh per family per year for secondary and tertiary hospitalisation
- Beneficiaries: 12 crore+ poor and vulnerable families (as per SECC 2011)
- Cashless Treatment: Available at public and empanelled private hospitals
- Mode of Access: Ayushman Bharat Card
Click here to know more about PMJAY
The world’s largest health insurance scheme by government funding
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4. Pradhan Mantri Fasal Bima Yojana (PMFBY)
- Coverage: Protection against crop failure due to natural calamities, pests, etc.
- Eligibility: All farmers with insurable interest
- Premium Rates:
- 2% for Kharif crops
- 1.5% for Rabi crops
- 5% for commercial/horticultural crops
- 2% for Kharif crops
- Coverage: Full sum insured even in post-harvest losses
Boosts farmer confidence by covering unpredictable agricultural risks
Click here to know more about PMFBY
5. Atal Pension Yojana (APY)
- Type: Pension + insurance scheme
- Eligibility: 18–40 years, for workers in the unorganised sector
- Contribution: ₹42 to ₹210 monthly (varies by age)
- Returns: Guaranteed monthly pension (₹1,000 to ₹5,000) after 60 years
Secures old age for unorganised sector workers with co-contribution from the government
Click here to know more about APY
6. Employees’ State Insurance Scheme (ESIC)
- Eligibility: Employees earning up to ₹21,000/month
- Benefits:
- Free medical care for self and dependents
- Maternity, sickness, disability, and unemployment benefits
- Funeral expenses up to ₹15,000
- Free medical care for self and dependents
- Contribution: 4% (employer + employee)
Comprehensive cover for organised sector workers and their families
Click here to know more about ESIC
Why Bima Yojana Matters in 2025
- Over 47 crore Indians are currently covered under various Bima Yojana schemes.
- Helps reduce out-of-pocket expenses, especially in health and accidental emergencies.
- Bridges the urban-rural gap in insurance awareness and coverage.
- Empowering self-employed, farmers, labourers, and women entrepreneurs with risk protection.
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How to Apply for Bima Yojana Schemes
You can apply through:
- Bank branches (linked to Jan Dhan accounts)
- Common Service Centres (CSCs)
- Online portals of respective schemes
- UMANG and Arogya Setu apps
- Insurance companies’ partner banks
Required Documents:
- Aadhaar Card
- Bank account linked with Aadhaar
- Income certificate (for PMJAY and PMFBY)
- Land ownership documents (for PMFBY)
Real-Life Impact: Success Stories
- Kavita Devi from Uttar Pradesh received ₹2 lakh under PMJJBY after her husband’s sudden death. The funds helped her restart a small tailoring business.
- Ravi Kumar from Maharashtra, a marginal farmer, got ₹35,000 compensation under PMFBY after crop loss due to unseasonal rain.
- Lakshmi from Tamil Nadu underwent a ₹3.2 lakh cancer surgery under PMJAY, saving her family from lifelong debt.
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Challenges Faced by Bima Yojana Beneficiaries
- Lack of awareness in rural areas
- Delay in claim settlements in some schemes
- Limited availability of empanelled hospitals (PMJAY)
- Technical glitches in Aadhaar linking
Key Takeaways
- Bima Yojana refers to various government-backed insurance schemes in India.
- Aimed at providing financial protection to economically weaker sections.
- Covers life, health, accident, and crop insurance under different schemes.
- Extremely affordable premium plans, some starting as low as ₹12/year.
- Most schemes are integrated with Jan Dhan Yojana, Aadhaar, and mobile numbers for easy access.
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Conclusion
Bima Yojana is not just about insurance; it’s about dignity, empowerment, and economic resilience. In 2025, these schemes will continue to be a lifeline for millions across India. Whether you’re a farmer, a daily wage worker, or a small business owner, there’s likely a government-backed insurance scheme tailored to protect you and your loved ones from unexpected financial shocks.
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Frequently Asked Questions (FAQs)
1. What is Bima Yojana?
- Government-supported insurance schemes offering affordable life, health, accident, and crop insurance.
2. How much does PMJJBY cost?
- ₹436 per year for ₹2 lakh life cover.
3. Is Bima Yojana available for everyone?
- Most schemes are targeted toward low-income groups, farmers, or unorganised sector workers.
4. Can I apply online for these schemes?
- Yes, via official portals, the UMANG app, or through your bank.
5. How do I claim insurance under PMFBY?
- Inform your insurance company/bank within 72 hours of the loss. Submit a claim with supporting documents.
6. What is the age limit for Pradhan Mantri Suraksha Bima Yojana?
- 18 to 70 years.
7. Is Aadhaar mandatory for Bima Yojana?
- Yes, Aadhaar is generally required for identification and linking bank accounts.
8. Can one person enrol in multiple schemes?
- Yes, you can simultaneously benefit from PMJJBY, PMSBY, and PMJAY.
9. Is there any tax benefit in the Bima Yojana?
- Yes, premiums paid may be eligible for tax deductions under Sections 80C and 80D.
10. Who pays the premium for these schemes?
- In most cases, the individual pays. For some schemes like APY, government co-contribution is also available.
