Government Insurance Schemes in India, Check Meaning & Short Notes for Banking Awareness

Government insurance schemes in India are initiatives by the central and state governments to provide financial security, health coverage, and social protection to citizens. These schemes cover areas like life, accidents, health, maternity, pensions, and crop insurance, and are especially aimed at the poor, farmers, senior citizens, and unorganised sector workers. In banking exams and interviews, knowledge of these schemes is important under Banking Awareness and General Awareness sections. Let’s look at their meaning and short notes.

Important Government Insurance Schemes in India

Here we are providing you with a list of important government insurance schemes in India which are frequently asked in the general awareness section of government exams. These schemes are launched to provide financial security, health benefits and social welfare to the citizens. Knowing these schemes will not only help you in the exams but also help you understand the welfare measures of the government.

• Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
• Pradhan Mantri Suraksha Bima Yojana (PMSBY)
• Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana (PM-JAY)
•  Janani Suraksha Yojana (JSY)
• Employees’ State Insurance (ESI) Scheme
• Central Government Health Scheme (CGHS)
• Aam Aadmi Bima Yojana (AABY)
• Pradhan Mantri Fasal Bima Yojana (PMFBY)
• National Health Mission (NHM)
• Pradhan Mantri Jan Arogya Yojana under Ayushman Bharat
• Bhamashah Swasthya Bima Yojana
• Chief Minister’s Comprehensive Insurance Scheme
• Aam Aadmi Bima Yojana
• Central Government Health Scheme
• Karunya Health Scheme
• Employees’ State Insurance Scheme
• Pradhan Mantri Suraksha Bima Yojana
• Mahatma Jyotiba Phule Jan Arogya Yojana
• Dr YSR Aarogyasri Healthcare Trust, Andhra Pradesh State Government
• Mukhyamantri Amrutum Yojana
• West Bengal Health Scheme
• Telangana State Government Employees & Journalists Health Scheme

1. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

This is a life insurance scheme that provides financial security to the family of the insured person in case of his/her causes of death. It is affordable, has a low annual premium and is available to those aged 18-50 years who have a bank account. The scheme provides a lump sum payment to the nominees that helps families meet immediate financial needs.

2. Pradhan Mantri Suraksha Bima Yojana (PMSBY)

PMSBY provides accident insurance. If a person dies or becomes permanently disabled due to an accident, his family gets financial support.

Type: Accidental Insurance Scheme

Eligibility: People aged 18 to 70 years with a savings account.

Coverage:

• ₹2 lakh for accidental death or permanent total disability.
• ₹1 lakh for partial disability.

Premium: Just ₹20 per year.

3. Atal Pension Yojana (APY)

APY is a pension scheme for workers in the unorganised sector. People contribute a small amount regularly, and after they turn 60, they receive a guaranteed monthly pension. It ensures financial security and peace of mind during old age.

4. Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana (PM-JAY)

PM-JAY is a health insurance scheme for poor families. It provides critical illness and hospitalisation insurance up to ₹5 lakh per family per year. It makes healthcare affordable and prevents families from getting into debt due to medical bills.

5. Janani Suraksha Yojana (JSY)

JSY helps pregnant women get proper medical care and a safe delivery in hospitals. Eligible women get financial assistance, which reduces maternal and infant mortality and promotes safe delivery.

6. Employees State Insurance (ESI) Scheme

ESI provides health and social security to employees earning less than a certain salary. It includes medical treatment, maternity, sickness and disability benefits. The scheme ensures that workers and their families are taken care of in case of an emergency.

7. Central Government Health Scheme (CGHS)

CGHS provides medical facilities to central government employees. It provides outpatient and inpatient care, including specialist treatment through wellness centres and empanelled hospitals.

8. Pradhan Mantri Fasal Bima Yojana (PMFBY)

This scheme protects farmers from crop losses due to natural disasters, pests or diseases. Farmers receive financial compensation, helping them to recover and continue farming without any major losses.

9. National Health Mission (NHM)

NHM works to provide better healthcare services, especially in rural areas. This is typically not an insurance scheme but a health program. It focuses on maternal and child health, disease prevention, and strengthening hospitals and healthcare centres across India.

10. Pradhan Mantri Jan Arogya Yojana under Ayushman Bharat

This part of Ayushman Bharat provides cashless treatment for critical illnesses to poor families. It ensures that people can access expensive medical care without worrying about money.

11. Bhamashah Health Insurance Scheme

This scheme in Rajasthan provides cashless treatment in hospitals. It helps poor families to access healthcare without any financial stress.

12. Mukhyamantri Comprehensive Insurance Scheme

Many states have such schemes to provide life and health insurance for government employees and other eligible groups. It covers accidents, hospitalisation, and critical illnesses.

13. Karunya Health Scheme

This scheme in Kerala helps poor families get treatment for critical illnesses like cancer, kidney problems, and heart disease. It ensures that no one is deprived of life-saving treatment due to a lack of money.

14. Mahatma Jyotiba Phule Jan Arogya Yojana

This health scheme from Maharashtra provides cashless treatment to poor families in empanelled hospitals. It helps people get proper medical care without worrying about the expenses.

15. Dr. YSR Arogyasri Healthcare Trust (Andhra Pradesh)

This scheme covers hospitalisation, surgeries, and medicines for low-income families in Andhra Pradesh. It ensures that even poor people can get quality healthcare when needed.

16. Mukhyamantri Amrutam Yojana

This health scheme from Gujarat helps low-income families afford major treatments and surgeries. It reduces their financial burden and ensures timely medical care.

17. West Bengal Health Scheme

This scheme provides health insurance and medical benefits to state employees and pensioners. It ensures easy access to quality healthcare for government employees and their families.

18. Telangana State Government Employees & Journalists Health Scheme

This scheme of Telangana covers government employees and registered journalists. It reimburses medical expenses and ensures that beneficiaries get timely treatment without any financial worries.

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