PM Jeevan Jyoti Bima Yojana & Atal Pension Yojana: A Decade Of Growth & Inclusivity

The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Atal Pension Yojana (APY) have not only achieved a decade of progress but have become cornerstone programmes in the Indian government’s financial inclusion strategy.

These schemes have vastly expanded coverage, offering life insurance and pension benefits to millions of previously underserved citizens.

According to data, over 560 million people had access to a bank account by FY25, marking a significant leap towards financial inclusion.

Pradhan Mantri Jeevan Jyoti Bima Yojana: Coverage & Claims

Since its launch, the PMJJBY has evolved into a key player in providing affordable life insurance.

Covering over 40 per cent of Jan Dhan account holders by FY25, the scheme’s impact has grown exponentially since its first year.

Back in FY16, the coverage was just 12 per cent, but now the programme has enrolled 235 million people, an eight-fold increase.

A Moneycontrol analysis reveals significant improvements in the claims process as well.

The claims clearance ratio has surged from 90 per cent in the scheme’s second year to over 96 per cent in FY25.

In FY25, the government disbursed 910,490 claims out of 942,805, marking a significant improvement from seven years ago, when it cleared only 92.8% of claims, disbursing 135,212 out of 145,763.

Atal Pension Yojana: A Steady Rise In Enrollments & Gender Equality

The Atal Pension Yojana (APY), launched to provide pension benefits for low-income workers, has witnessed consistent growth over the past decade.

With over 70 million enrollees, the programme has demonstrated strong uptake.

The latest figures show a significant 18 per cent increase in subscribers in FY25, with total enrollments rising to 76.1 million, up from 64.3 million the previous year.

The gender gap in APY has also narrowed significantly.

A breakdown of the figures shows that male subscribers now stand at 40 million, only 14.6 per cent higher than female subscribers.

This is a remarkable improvement from six years ago when the gender gap was as high as 38 per cent.

In FY25, 21 per cent more women were added to the programme, taking the total female subscription to 36 million, up from 30 million the previous year.

Financial Empowerment For All

The continuous growth in both the PMJJBY and APY schemes reflects the government’s commitment to ensuring financial security for all, particularly among the most vulnerable sections of society.

These programmes, which began with humble aspirations, now stand as pillars of financial empowerment, enhancing the lives of millions across the country.

As India celebrates a decade of success with PMJJBY and APY, these schemes promise to continue playing an integral role in enhancing financial inclusivity, gender equality, and long-term social security for the nation’s citizens.

With the increasing pace of enrolments and improved claims processing, both PMJJBY and APY are expected to reach even more people in the coming years.

Their success sets a strong foundation for future government initiatives aimed at deepening India’s financialisation and ensuring that every citizen has access to insurance and pension security.

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