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FM Sitharaman reviews PMGKP, PMJJBY insurance schemes, calls for speedy settlements

FM Nirmala Sitharaman (C), MoS Finance Anurag Thakur (R) and DFS Secretary Debashish Panda (L) virtually interact with insurance companies' headsPremium
FM Nirmala Sitharaman (C), MoS Finance Anurag Thakur (R) and DFS Secretary Debashish Panda (L) virtually interact with insurance companies' heads

On delays arising due to documents being sent from states, said that a new system has been put in place whereby a simple certificate from the District Magistrate (DM) and endorsed by the nodal state health authority will be sufficient to process PMGKP claims

Finance Minister Nirmala Sitharaman met the heads public and private insurance companies to review the progress made under Pradhan Mantri Garib Kalyan Package (PMGKP) insurance scheme. The insurance scheme includes health workers deployed in Covid-19 duty as beneficiaries.

The Finance Minister also asked the insurers to expedite disbursement of pending claims under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) during the pandemic.

Talking to the heads of public and private insurers via video conferencing, Sitharaman was joined by Minister of State for Finance Anurag Singh Thakur and Department of Financial Services Secretary Debashish Panda.

During the review, Sitharaman noted that 419 claims have been paid so far under the PMGKP scheme, amounting to 209.5 crore disbursed in the account of their nominees.

On delays arising due to documents being sent from states, said that a new system has been put in place whereby a simple certificate from the District Magistrate (DM) and endorsed by the nodal state health authority will be sufficient to process PMGKP claims.

The Finance Minister lauded efforts of New India Assurance Co, which has been entrusted to manage the scheme. She cited the example of Ladakh where a claim was settled within 4 hours of receiving the DM certificate and encouraged the insurer to maintain a similar approach in future. She also directed the states to take up COVID claims of health workers on priority and make maximum use of this simplified mechanism that has been put in place.

Coming to PMJJBY, Sitharaman observed that 4.65 lakh claims worth 9,307 crore have been paid under the scheme so far. Since the beginning of the pandemic, 1.2 lakh claims have been settled, amounting to 2,403 crore, with a disposal rate of 99 per cent.

Taking stock of claim disposal of claims under Pradhan Mantri Suraksha Bima Yojana (PMSBY), Sitharaman said that a total of 82,660 claims worth 1,629 crore have been paid as on May 31, 2021.

She appreciated the measures taken to ensure prompt settlement of claims under PMJJBY and PMSBY, including processing claims in 7 days, end-to-end digitisation , among others.

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