Every government has a duty towards its residents to provide safety and security to their life. And to make this feasible, government launches different types of insurance schemes so that ordinary civilians can take the benefit when they need it. These insurances are consists of minimum premium and maximum returns.
Let’s discuss the different types of Government insurance schemes that are available in India –
- Pradhan Mantri Jan Arogya Yojana
This health insurance scheme is for the weaker sections of the society. Hospital bills are covered up to Rs 5 lakhs. Premiums are to be paid to the Government.
- Aam Admi Bima Yojana
This insurance policy covers all the rural people who do not have any property and covers only the people involved in specific 45 occupations.
- Rashtriya Swasthiya Bima Yojana
This scheme provides insurance to families that are Below Poverty Line. It covers the hospital bills up to Rs 30,000.
- Employment State Insurance Scheme
This scheme provides insurance coverage to workers who work in non-seasonal plants. But the factory should have at least the strength of 10 employees.
- Universal Health Insurance Scheme
You can own this scheme by only four public insurance companies available in India. The scheme provides support to the BPL families. Coverage details are as follows –
- Hospitalization – up to Rs 30, 000
- Accidental death – Rs 25, 000
- Awaz Health Insurance Scheme
The scheme provides coverage to migrant workers who work in Kerala. It offers hospitalization cover and accidental death cover.
- Chief Minister’s Comprehensive Health Insurance Scheme
The state of Tamil Nadu launches this insurance scheme to covers all medical expenses of the insured beneficiaries. It covers medical expenses up to 1.5 lakhs.
- Mahatma Jyotiba Phule Jan Arogya Yojana Scheme
It provides coverage to under and over poverty line families in the 36 regions of Maharashtra. Hospitalization coverage of INR 1.5 lakhs is covered per family on a family floater basis.
- Mukhyamantri Amrutam Yojana
The Government of Gujarat has inaugurated the scheme for the people who are below the poverty line. The scheme covers Heart surgeries, Brain surgeries, burns disease, and even covers cancer treatment.
- Pradhan Mantri Suraksha Bima Yojana
This scheme is available for all Indian citizens whose age is between 18 years and 70 years and holds a bank account. It covers the permanent loss of sight in the eyes, loss of hands, loss of legs, or loss of one eye.
- Pradhan Mantri Fasal Bima Yojana
It is the crop insurance by the government to protect the farmers from any uncertainties. It provides coverage to the farmers for the loss of any of the crops due to natural disasters and pests.
- Livestock insurance scheme
This scheme aims to protect the farmers against any loss of their animals and cattle due to death.
Features and advantages of Government insurance schemes:
- These scheme holders need to pay the least premium to attain maximum benefit.
- It ensures that people below the poverty line live a secure life.
- It encourages the low-income group to invest in government insurance plans.