What is Pradhan Mantri Suraksha Bima Yojana (PMSBY)?
Updated: Tuesday, 7 June 2022 (15:18 IST)
Pradhan Mantri Suraksha Bima Yojana (PMSBY) was launched by Prime Minister Narendra Modi in the year 2015 to provide access to low cost accidental insurance cover to the common people especially poor and the Under-privileged Sections of the society.
What is the scheme: PMSBY is a one-year accidental insurance scheme renewable from year to year offering coverage for death or disability due to accident.
Eligibility: Individuals in the age group of 18-70 years having a savings bank or a post office account are entitled to enroll under the scheme.
Benefits: Accidental death cum disability cover of Rs.2 lakh (Rs.1 lakh in case of partial disability) for death or disability due to an accident at premium of just Rs 20 per annum.
Enrolment: Enrolment under the scheme can be done by visiting the branch/ BC point or website of the bank of the account holder or at the post office in case of post office savings bank account. The premium of Rs. 20 per annum is auto debited every year from the subscriber’s bank account based on a one-time mandate from the account holder.
Detailed information about the scheme and the forms (in Hindi, English and Regional languages) are available on https://jansuraksha.gov.in
