Kolakata: Prime Minister Narendra Modi is all set to visit Kolkata on May 9 and there he will launch three ambitious Social Security Schemes pertaining to the insurance and pension sector.
This would be a path breaking initiative towards providing affordable universal access to essential social security protection in a convenient manner linked to auto-debit facility from the bank account of the subscriber.
The two insurance schemes to be launched, namely Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) would provide insurance cover in the unfortunate event of death by any cause/death or disability due to an accident respectively , whereas the pension scheme, Atal Pension Yojana (APY), would address old age income security needs.
The convenient delivery mechanism of the schemes is expected to address the situation of very low coverage of life/accident insurance and old age income security products in the country.
Besides the launch function at Kolkatta, simultaneous launch functions of the Schemes will also be held at 116 locations in the Capital and other major centres of the different States and at District Headquarters. Chief Ministers and Union Ministers will attend the functions at various locations in the country.