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​Review Meet: Finance minister asks states, insurance companies to expedite settlements of claims under key schemes

​Review Meet: Finance minister asks states, insurance companies to expedite settlements of claims under key schemes
Last Updated: Jun 07, 2021 | 42 Views
Finance minister Nirmala Sitharaman on Saturday asked insurance companies to expedite settlements of claims under key schemes. She also directed states to take up Covid claims of health workers on a priority basis and make maximum use of a simplified mechanism that has been put in place.

In a virtual meeting with chiefs of public and private insurers, the minister said 1.2 lakh claims amounting to Rs 2,403 crore have been paid to beneficiaries of the PM Jeevan Jyoti Bima Yojana (PMJJBY) at a disposal rate of 99% since the pandemic started spreading its tentacles in April 2020.

Faster claim settlements have assumed greater significance in recent months, given the ferocity of the pandemic that has claimed 3.44 lakh lives in the country.

Under the PM Suraksha Bima Yojana (PMSBY), 82,660 claims worth Rs 1,629 crore have been settled as of May 31.

The PMJJBY and PMSBY were launched in 2015 to provide life insurance and accidental insurance covers, respectively, of Rs 2 lakh each to beneficiaries for an annual premium of only Rs 330 and Rs 12, respectively. As of May 5, total enrolment stood at 23.37 crore under the PMSBY and 10.33 crore under the PMJJBY.

During a review of the Pradhan Mantri Garib Kalyan Package (PMGKP) Insurance Scheme for health workers fighting the pandemic, the minister observed that only 419 claims amounting to Rs 209.5 crore have been paid so far under this scheme (deposited in the account of their nominees).

To tackle the issue of delay on part of states in sending documents, Sitharaman said a new system has been put in place whereby a simple certificate from the district magistrate and endorsed by the nodal state health authority will be sufficient to process these claims.

Sitharaman also stressed the importance of streamlining the process and documentation requirements under the schemes so that the claims are disbursed speedily, the finance ministry said in a statement.

This article was originally posted here

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