Fix deadline for PMJDY insurance claims: PM Modi to FM Jaitley
, ET Bureau|
Updated: Oct 04, 2017, 12.28 AM IST
NEW DELHI: Prime Minister Narendra Modi has asked the finance ministry to fix a time limit for payment of insurance claims of Rs 30,000 to the family of the deceased who opened a bank account under the Pradhan Mantri Jan Dhan Yojana (PMJDY) in 2014-15.
Under the PMJDY, any person who opened his first bank account between August 15, 2014, and January 26, 2015, along with a RuPay card, is eligible for a life cover of Rs 30,000 on death due to any cause. The idea is to provide security to poor families in both urban and rural areas who cannot afford direct insurance and are not covered under any social security scheme. According to the government, crores of new bank accounts were opened in 2014-15 after the PM launched the scheme.
Reviewing the scheme last week, the PM directed that in case of death of a PMJDY holder, the Department of Financial Services should fix a time limit for disposal of the insurance claim.
Although most claims so far have been given out expeditiously, officials said the idea is to fix a time limit so that the poor do not have to wait without any certainty of time for getting the insurance amount after the death of their dear ones. The scheme itself does not prescribe any time limit for disposing of the Rs 30,000 claim.
So far the government has received 4,912 claims for Rs 30,000 each and of these 4,305 claims have been cleared, while 601 claims were rejected for not fulfilling the eligibility criteria.
Only six claims are still being processed, according to the government’s figures. The PM also directed that an effort be made to maximise the use of the RuPay card and analyse the public grievances pertaining to PMJDY.
Under the PMJDY, any person who opened his first bank account between August 15, 2014, and January 26, 2015, along with a RuPay card, is eligible for a life cover of Rs 30,000 on death due to any cause. The idea is to provide security to poor families in both urban and rural areas who cannot afford direct insurance and are not covered under any social security scheme. According to the government, crores of new bank accounts were opened in 2014-15 after the PM launched the scheme.
Reviewing the scheme last week, the PM directed that in case of death of a PMJDY holder, the Department of Financial Services should fix a time limit for disposal of the insurance claim.
Although most claims so far have been given out expeditiously, officials said the idea is to fix a time limit so that the poor do not have to wait without any certainty of time for getting the insurance amount after the death of their dear ones. The scheme itself does not prescribe any time limit for disposing of the Rs 30,000 claim.
So far the government has received 4,912 claims for Rs 30,000 each and of these 4,305 claims have been cleared, while 601 claims were rejected for not fulfilling the eligibility criteria.
Only six claims are still being processed, according to the government’s figures. The PM also directed that an effort be made to maximise the use of the RuPay card and analyse the public grievances pertaining to PMJDY.
