National Insurance Awareness Day is annually observed on 28th June to create awareness about the importance of insurance and to encourage people to review their insurance policies.
To spread knowledge about insurance and its benefits.
Importance of Insurance:
i.The insurance offers security, covering loved ones, and recovering losses in the event of damage, illness, or death.
ii.Insurance enables mitigation of losses, financial stability and promotes trade and commerce activities that result in sustainable economic growth and development.
Roles of Life insurance:
- A viable solution for wealth creation
- A vital source of regular income after retirement
- An effective defence mechanism against financial losses
India’s Government-sponsored socially-oriented Insurance Schemes:
- Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY)
- Pradhan Mantri Suraksha Bima Yojana(PMSBY)
- Life Cover under Pradhan Mantri Jan Dhan Yojana (PMJDY)
- Varishtha Pension Bima Yojana
- Pradhan Mantri Fasal Bima Yojana(PMFBY)
- Pradhan Mantri Vaya Vandana Yojana(PMVVY)
- Restructured Weather Based Crop Insurance Scheme (RWBCIS)