Pradhan Mantri Suraksha Bima Yojana Policy | PMSBY, Certificate, & Full Form
Know all about Pradhan Mantri Suraksha Bima Yojana, the government accident insurance scheme. Learn its main benefits, eligibility, and claim process
In this article:
Pradhan Mantri Suraksha Bima Yojana (PMSBY): Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a government-backed accident insurance scheme for Indian citizens. It provide an affordable protection against accidental death and disability to individuals between 18 and 70 years age, mostly focusing the weaker sections and low-income groups. With a very low annual premium and wide reach, PMSBY is among the most popular insurance schemes in India since it launched in 2015.
Key Features of Pradhan Mantri Suraksha Bima Yojana
Annual premium: Only INR 20 per year, auto-debited from your bank or post office savings account.
Coverage Amount:
INR 2 lakh for accidental death or permanent total disability.
INR 1 lakh for permanent partial disability.
Eligibility: Indian residents or NRIs between 18-70 years who hold a savings account.
No complicated medicals: Only Aadhar linked and consent for auto-debit required.
Coverage term: Policy renews annually from 1st June to 31st May.
Simple enrollment: Open to everyone with savings bank account, can enroll at most banks or online.
One policy per person: Even if you have multiple accounts, only one PMSBY policy is valid per individual.
Benefits of Pradhan Mantri Suraksha Bima Yojana
PMSBY Benefits
Complete financial protection to your family in case of accidental death or disability.
Very affordable premium so everyone can participate.
No restrictions on occupation or income. People in unorganized sector, daily wage earners and low-salaried employees, they benefits the most.
Easy claim settlement direct in the insured or nominee's bank account. Claim and status tracking available.
Full risk cover given yearly without health checkup up to age 70.
Tax benefits on premiums paid in certain cases.
PMSBY Coverage Details
Type of Coverage | Sum Insured |
|---|---|
Accidental Death | INR 2 lakh |
Permanent Total Disability | INR 2 lakh |
Permanent Partial Disability | INR 1 lakh |
How to Apply for Pradhan Mantri Suraksha Bima Yojana
How to enroll in PMSBY
You can enroll in PMSBY very easily through your bank or post office. Here’s the steps:
Ensure you have a savings bank or post office account.
Visit your branch or use netbanking/mobile banking. Some banks allow phone enrollment too.
Fill out the PMSBY application form (available in English, Hindi and regional languages).
Provide your Aadhaar number. Link Aadhaar with the account if not already done.
Give consent for auto-debit of annual premium.
Confirm nomination details.
You will received a confirmation message after successful joining.
Renewal of PMSBY is automatic every year if you have balance in your bank or post office account and have not opted out.
PMSBY Claim Process
Accidents happen unexpected, and PMSBY makes claim process simple:
Informing your bank/insurance partner as soon as possible after accident or death.
Download claim form from official government website (jansuraksha.gov.in) or respective bank.
Submit filled claim form along with relevant documents within 30 days from the accident date.
For death claim, submit original FIR, post-mortem report, death certificate and nominee/claimant’s details.
For disability claim, certified hospital/medical documents to prove disability.
Claims processed within 30 days once documents are found to be correct.
Payout transferred to bank account of nominee/legal heir.
Who Should Buy PMSBY?
If you are think about the safety of your family and want affordable accident insurance, PMSBY is a best option. Especially, if you are working in private sector, self-employed, daily wage earner, or your work involve any kind of risk – PMSBY will offer real peace of mind.
Accident insurance scheme for low income families
With rising accidents and lack of social security, this accident insurance scheme can be a lifeline for low-income families in India. Government aim to include the poor and those working in unorganised sectors who usually left out from expensive private insurance plans.
Who are Not Eligible for PMSBY?
People below 18 or above 70 years of age.
Non-savings account holders. (You must open a savings account to join.)
Why PMSBY Important for Indian Citizens
Only 2 out of 10 Indians have some kind of accident insurance cover.
Cost of treatment for accidental injuries and loss of income can be devastating.
PMSBY brings social security and dignity for all, especially the common man.
Government pays no subsidy but still manages with competitive premium due to scale and minimum admin costs