News From Press Centre hikes premium for flagship insurance schemes as claims rise

Centre hikes premium for flagship insurance schemes as claims rise

Source: Business Standard Jun 1, 2022

The Centre has increased the premium rates for its flagship insurance schemes, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY), for the first time in seven years due to “long-standing adverse claims experience”, and to make them economically viable.

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