Overview of Social Security in India Social security in India is a multifaceted system designed to provide financial protection and healthcare access to various segments of the population, particularly the economically vulnerable and those in the unorganized sector. The Government of India has launched several flagship insurance schemes covering life, health, accidents, and agriculture to promote financial inclusion and mitigate the risks of poverty traps resulting from unforeseen tragedies. Life Insurance Initiatives Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) - Launched in May 2015, PMJJBY is a one-year life insurance scheme, renewable from year to year, offering coverage for death due to any reason. It is available to people in the age group of 18 to 50 years who have a savings bank account. The scheme provides a life cover of ₹2 lakh at a very low annual premium, making it one of the most accessible life insurance products for the masses. Aam Admi Bima Yojana (AABY) - This scheme focuses on providing life and disability coverage to rural landless households and specific vocational groups. It covers the head of the family or one earning member of the household. Beyond death benefits, the scheme also includes an add-on benefit of a scholarship for up to two children of the beneficiary studying in classes 9 to 12. Health Insurance and Universal Coverage Ayushman Bharat - Pradhan Mantri Jan Arogya Yojana (PM-JAY) - Ayushman Bharat is the world's largest government-funded healthcare program. It aims to provide a health cover of ₹5 lakh per family per year for secondary and tertiary care hospitalization. The scheme targets over 12 crore poor and vulnerable families based on the Socio-Economic Caste Census (SECC) data. It is completely cashless and paperless at the point of service in public and empaneled private hospitals. Central Government Health Scheme (CGHS) - CGHS provides comprehensive health care facilities for Central Government employees and pensioners and their dependents residing in CGHS-covered cities. The components include outpatient department (OPD) care, specialist consultation, and hospitalization at government and empaneled private hospitals. Personal Accident and Disability Schemes Pradhan Mantri Suraksha Bima Yojana (PMSBY) - PMSBY is an accident insurance scheme offering protection against death or disability caused by an accident. Available to individuals aged 18 to 70 years with a bank account, it provides a cover of ₹2 lakh for accidental death or full disability and ₹1 lakh for partial disability. The premium is kept intentionally low to ensure participation from the lowest income tiers. Agricultural and Crop Insurance Pradhan Mantri Fasal Bima Yojana (PMFBY) - Agriculture is a high-risk sector in India due to weather fluctuations. PMFBY provides a comprehensive insurance solution against non-preventable natural risks such as drought, floods, landslides, and pests. It aims to stabilize the income of farmers to ensure their continuance in farming and to encourage them to adopt innovative and modern agricultural practices. Restructured Weather Based Crop Insurance Scheme (RWBCIS) - This scheme mitigates the hardship of the insured farmers against the likelihood of financial loss on account of anticipated crop loss resulting from adverse weather conditions, such as rainfall, temperature, wind, and humidity. Pension and Retirement Security Atal Pension Yojana (APY) - Focusing on the unorganized sector, APY encourages workers to voluntarily save for their retirement. Based on the amount of contribution and the age of joining, subscribers receive a fixed minimum pension ranging from ₹1,000 to ₹5,000 per month starting from the age of 60. Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) - This is a voluntary and contributory pension scheme for unorganized workers like home-based workers, street vendors, and rickshaw pullers. It ensures a minimum assured pension of ₹3,000 per month after attaining the age of 60 years.