Pradhan Mantri Suraksha Bima Yojana (PMSBY): Pradhan Mantri Suraksha Bima Yojana Scheme is a Accident Insurance Scheme that offers accidental death and disability cover for death or disability on account of an accident. The scheme will be a one year cover and renewable from year to year. As per sources a large proportion of the population has no accidental insurance cover. To overcome this Government of India launched Pradhan Mantri Suraksha Bima Yojana scheme. The Pradhan Mantri Suraksha Bima Yojana (PMSBY) is aimed at covering the uncovered population at an highly affordable premium of just Rs.12 per year. The Scheme will be available to people in the age group 18 to 70 years with a savings bank account who give their consent to join and enable auto debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis.
Pradhan Mantri Suraksha Bima Yojana
|Table of Benefits||Sum Insured|
|a||Death||Rs. 2 Lakh|
|b||Total and irrecoverable loss of both eyes or loss of use of both hands or feet or loss of sight of one eye and loss of use
of hand or foot
|Rs. 2 Lakh|
|c||Total and irrecoverable loss of sight of one eye or loss of use
of one hand or foot
|Rs. 1 Lakh|
Highlights of the Pradhan Mantri Suraksha Bima Yojana
How To Apply For PMSBY Scheme
- Log in to NetBanking Click on the ‘Insurance’ tab.
- You will be shown multiple Social Security Schemes to choose from.
- Select the Account through which you wish to pay your premium.
- Now Policy Cover amount, Premium amount and Nominee details will be displayed.
- You can choose to replicate the Savings Account nominee or add a new nominee.
- Further enter required details in specified fields.
- Click on Next Button.
- You will then be shown the complete details of the social security scheme you have registered for.
- If you are okay with the scheme registration details displayed, click on ‘Confirm’
- Download the Acknowledgement, which carries a unique reference number.
- Do save the Acknowledgement document for future reference.