PM Jeevan Jyoti Bima Yojana, Atal Pension Yojana complete a decade, see improvement in claim, gender ratios: MC Analysis

As Pradhan Mantri Jeevan Jyoti Bima Yojana completes its decade of existence, the scheme covers over 40 percent of Jan Dhan Account holders

The government has not only been able to provide bank accounts to a large swathe of population—nearly 560 million people had a bank account by FY25—but also deepen financialisation with its pension and insurance products.

As Pradhan Mantri Jeevan Jyoti Bima Yojana completes its decade of existence, the scheme covers over 40 percent of Jan Dhan Account holders. This ratio was just 12 percent in the scheme's first year of operation.

The number of people enrolled in the programme have grown 8 times since FY16 and stood at 235 million by the end of FY25.

As number of people with a life insurance cover of Rs 2 lakh has gone up, so have government's claim ratios.

A Moneycontrol analysis of data from the government's dashboard shows that claims clearance has inched up from 90 percent within second year of scheme's approval to over 96 percent in FY25.

In FY25, 910,490 of the 942,805 claims received under the scheme were disbursed. Seven years ago, this ratio was just 92.8 percent, with 135,212 of the 145,763 claims disbursed under the scheme.

Atal Pension Yojana, which guarantees a pension for low-income workers, has also ramped up during this decade.

Despite enrolling over 70 million people under the programme, the pace of addition has remained in double digits. In FY25, 18 percent more subscribers were enrolled under the programme taking the total enrollment to 76.1 million compared with 64.3 million in the previous year and 15.4 million seven years ago.

Number of enrollments under the programme have increased 15.5 times from 4.9 million after the first year of operation to 76.1 million.

Moneycontrol analysis shows that the scheme has moved towards higher gender equality over time.

The gap between male and female subscribers of Atal Pension Yojana has reduced.

By the end of FY25, male subscribers at 40 million exceeded female subscribers under the programme by 14.6 percent compared with 38 percent six years ago.

In FY25, 21 percent more women subscribers were added to the programme, taking total subscription to 36 million from 30 million a year ago.