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Question

Difficulty: MediumSocial Sector Initiatives, Welfare Schemes, and Social Security Architecture

Regarding the Pradhan Mantri Suraksha Bima Yojana (PMSBY), a key component of India's social security architecture, which of the following statements are correct?

  1. It provides an accidental death and permanent total disability risk cover of ₹2 lakh to the subscriber.Answer
  2. Individuals having a savings bank or post office account in the age group of 18 to 70 years are eligible to join.Answer
  3. C
    It is administered as a health insurance scheme under the Ministry of Health and Family Welfare.
  4. The annual premium of ₹20 per subscriber is automatically debited from the subscriber's bank account in a single installment.Answer

Answer

The statements confirming a ₹2 lakh cover for accidental death/total disability, eligibility for bank account holders aged 18 to 70 years, and an auto-debited annual premium of ₹20 are correct. The statement claiming administration under the Ministry of Health and Family Welfare is incorrect.
The correct statements accurately state the features of Pradhan Mantri Suraksha Bima Yojana (PMSBY): it offers ₹2 lakh coverage for accidental death or permanent total disability, targets individuals aged 18 to 70 with bank/post office accounts, and features an annual auto-debit premium of ₹20.

Step-by-Step Solution

1
Examine the risk coverage provisions of PMSBY
Confirm that accidental death and permanent total disability are covered up to ₹2 lakh (and partial permanent disability up to ₹1 lakh).
Risk coverage parameters define the primary benefit structure of the social security scheme.
2
Verify age limits and target beneficiary qualifications
Confirm that subscribers must be between 18 and 70 years old with an active bank/post office account.
Eligibility windows establish the age envelope and financial inclusion prerequisites.
3
Inspect the nodal administrative Ministry and premium details
Identify that the scheme falls under the Department of Financial Services (Ministry of Finance) with a ₹20 annual auto-debit premium, making the health ministry claim false.
Financial social security schemes are managed by the Ministry of Finance, not the health ministry.

Key Concept

Pradhan Mantri Suraksha Bima Yojana (PMSBY) Framework and Eligibility
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Topics

Social Sector Initiatives, Welfare Schemes, and Social Security Architecture