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

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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.Sooner declare settlements have assumed larger significance in current months, given the ferocity of the pandemic that has claimed 3.44 lakh lives within the nation.

Finance minister Nirmala Sitharaman on Saturday requested insurance coverage firms to expedite settlements of claims beneath key schemes. She additionally directed states to take up Covid claims of well being staff on a precedence foundation and make most use of a simplified mechanism that has been put in place.

In a digital assembly with chiefs of private and non-private insurers, the minister mentioned 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 charge of 99% because the pandemic began spreading its tentacles in April 2020.

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Sooner declare settlements have assumed larger significance in current months, given the ferocity of the pandemic that has claimed 3.44 lakh lives within the nation.

Underneath the PM Suraksha Bima Yojana (PMSBY), 82,660 claims value Rs 1,629 crore have been settled as of Might 31.

The PMJJBY and PMSBY have been launched in 2015 to supply life and unintentional insurance coverage covers, respectively, of Rs 2 lakh every to beneficiaries for an annual premium of solely Rs 330 and Rs 12, respectively. As of Might 5, whole enrolment stood at 23.37 crore beneath the PMSBY and 10.33 crore beneath the PMJJBY.

Throughout a evaluation of the Pradhan Mantri Garib Kalyan Package deal (PMGKP) Insurance coverage Scheme for well being staff preventing the pandemic, the minister noticed that solely 419 claims amounting to Rs 209.5 crore have been paid up to now beneath this scheme (deposited within the account of their nominees).

To deal with the problem of delay on a part of states in sending paperwork, Sitharaman mentioned a brand new system has been put in place whereby a easy certificates from the district Justice of the Peace and endorsed by the nodal state well being authority will probably be ample to course of these claims.

Sitharaman additionally confused the significance of streamlining the method and documentation necessities beneath the schemes in order that the claims are disbursed speedily, the finance ministry mentioned in a press release.

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