Insurance Claim disbursements under PMJJBY shots up 438% in financial year 2022

Disbursal of claims under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), which offers death coverage due to any reason, shot up by 438 per cent in 2021-22 to 340,192, reflecting the higher number of deaths during the second wave of Covid.

In 2020-21, disbursal of claims under the scheme increased 49.2 per cent to 63,181, according to data released by the finance ministry.

Comparatively, enrollments under the scheme fell in FY22 by 20.6 per cent to 25.4 million after rising by 191 per cent to 32 million in FY21. In FY23, annual enrollment under the scheme reached its highest level at 33 million, growing 30 per cent.