Explanation:

- Pradhan Mantri Jan Arogya Yojana (PM-JAY) is a significant health assurance scheme in India.

- It is designed to provide health coverage for secondary and tertiary care hospitalization.

- Aimed at poor and vulnerable families, ensuring access to healthcare.

- The maximum insured amount provided to eligible beneficiaries under this scheme is Rs. 5,00,000 per family per year.

- This amount covers a wide array of medical procedures and treatments.

- The scheme helps prevent out-of-pocket expenses for healthcare among the economically weaker sections.

Correct Answer: Option 3 - Rs. 5,00,000