A Study on PMJJBY&PMSBY-Two New Avtar of Social Security insurance schemes

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) &Pradhan Mantri Suraksha Bima Yojana (PMSBY) are the two new social security schemes started by the central government recently. These schemes offer decent coverage at a very minimal premium. After the success of Jan-dhanyojna, government has selected banking channel to route these transactions. These schemes would help in increasing the insurance penetration if targeted properly. Various strategies that the government and banks can adopt to sell this product is discussed in detail. Awareness would be one of the important factor to make this initiative by government a great success.