Srinagar, June 15 -- Pradhan Mantri Suraksha Bima Yojana (PMSBY) marks a significant milestone in India's journey toward universal social security. Launched in May 2015 and designed as an affordable and accessible personal accident insurance scheme, PMSBY targeted economically vulnerable citizens, particularly those in rural and unorganized sectors. With a nominal annual premium of Rs.20, the scheme offers Rs.2 lakh insurance coverage for accidental death or full disability, and Rs.1 lakh for partial disability. Over the past decade, PMSBY has evolved from a government initiative to a symbol of inclusive insurance outreach.

PMSBY was conceived as part of the government's broader strategy to strengthen the social security framework in Ind...