Pradhan mantri suraksha bima yojana 2024


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Details of Pradhan mantri suraksha bima yojana

Pradhan mantri suraksha bima yojana 2024 offers coverage for accidental death and disability. The premium is Rs. 20 per annum per member, deducted via auto-debit from the account holder’s bank or post office account before 1st June annually. Coverage lasts from 1st June to 31st May each year. The accident cover ends upon reaching age 70 or closure of the account or insufficient balance to maintain the insurance. If a member is inadvertently covered under multiple accounts, the insurance cover is limited to Rs. 2 lakh.

  1. Affordable Premium: With a nominal premium of only Rs. 20 per annum per member, the scheme ensures accessibility for individuals across various socio-economic backgrounds.
  2. Convenient Payment: Premium payments are seamlessly processed through the auto-debit facility from the account holder’s bank or post office account, easing the administrative burden for participants.
  3. Annual Coverage: Coverage under the scheme spans from 1st June to 31st May of the following year, ensuring continuous protection against unforeseen accidents throughout the coverage period.
  4. Termination Conditions: The accident cover ceases or may be restricted under specific circumstances, such as reaching the age of 70, closure of the account, or insufficient balance to sustain the insurance.
  5. Maximum Coverage: In the event of accidental coverage under multiple accounts, the insurance payout is limited to Rs. 2 lakh, preventing redundancy and ensuring fair distribution of benefits.
  6. Financial Security: The scheme provides financial support to beneficiaries in the unfortunate event of accidental death or disability, alleviating the financial strain during challenging times.
  7. Government Initiative: The Accident Insurance Scheme is part of the government’s broader efforts to enhance social security and welfare measures, promoting financial inclusion and risk mitigation among the population.
  8. Peace of Mind: By enrolling in the scheme, individuals can enjoy peace of mind knowing that they and their loved ones are protected against the financial repercussions of accidental incidents.
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Benefits of Pradhan mantri suraksha bima yojana

Benefits provided by the Pradhan mantri suraksha bima yojana 2024 include:

  1. Death Benefit: In the event of the insured’s death due to an accident, the nominee receives a lump sum amount of Rs. 2 lakhs, providing financial support to the family during a difficult time.
  2. Total and Irrecoverable Loss: If the insured suffers total and irrecoverable loss of both eyes, loss of use of both hands or feet, or loss of sight of one eye and loss of use of one hand or foot, the subscriber is eligible to receive Rs. 2 lakhs, aiding in coping with the financial challenges associated with such disabilities.
  3. Partial Loss: In case of total and irrecoverable loss of sight of one eye or loss of use of one hand or foot, the subscriber is entitled to receive Rs. 1 lakh, offering financial assistance to adapt to the changes brought about by the partial loss.

Application Process

Here’s a properly styled guide for enrolling in PMSBY offline:

Step 01: To enroll offline in PMSBY, individuals can visit the bank branch where they hold a savings account. Alternatively, they can visit the official website: https://jansuraksha.gov.in/Forms-PMSBY.aspx to download the application form.

Step 02: After downloading the application form, candidates should fill in all the required details accurately. The completed form, along with the necessary documents, should be submitted to the bank.

Step 03: Upon successful submission, the subscriber will receive an Acknowledgement Slip Cum Certificate of Insurance, confirming their enrollment in the scheme.

Contact Information:

For online:

Step 01: Log in to your bank’s net banking portal using your credentials.

Step 02: Navigate to the insurance or services section, where you may find an option for enrolling in PMSBY.

Step 03: Follow the instructions provided to fill in the necessary details accurately.

Step 04: Once you have completed the enrollment process, you will receive confirmation of your coverage.

Step 05: Ensure that the premium amount is deducted from your account as per the terms of the scheme.


Document Required

The documents required for enrolling in the PMSBY (Pradhan Mantri Suraksha Bima Yojana) scheme typically include:

  1. Application Form: The duly filled and signed application form is a primary requirement for enrollment. This form can be obtained from the bank branch, downloaded from the official website, or filled online through net banking facilities.
  2. Proof of Identity (ID): Any government-issued identity document such as Aadhaar Card, Passport, Voter ID Card, PAN Card, or Driving License can be submitted as proof of identity.
  3. Proof of Address: Documents like Aadhaar Card, Passport, Voter ID Card, Utility Bills (electricity/water/telephone), or Rent Agreement can be provided as proof of address.
  4. Age Proof: A document verifying the age of the applicant is required. This could be a Birth Certificate, Aadhaar Card, Passport, or any other valid document indicating the date of birth.
  5. Bank Account Details: The applicant needs to provide details of the bank account through which the premium will be deducted. This includes the account number, bank name, branch details, and IFSC code.
  6. Nominee Details: Information about the nominee(s) is required, including their name, relationship with the insured, date of birth, and contact details.
  7. Photographs: Passport-sized photographs of the applicant may be required for documentation purposes.

Frequently Asked Questions

1. What is Pradhan mantri suraksha bima yojana?

PMSBY is a government-backed accidental insurance scheme aimed at providing affordable insurance coverage against accidental death and disability.

2. Who is eligible to enroll in Pradhan mantri suraksha bima yojana?

Individuals aged between 18 and 70 years holding a savings bank account are eligible to enroll in PMSBY.

3. What is the coverage provided under Pradhan mantri suraksha bima yojana?

PMSBY provides coverage of Rs. 2 lakhs for accidental death and total and irrecoverable loss of both eyes or loss of use of both hands or feet. It offers Rs. 1 lakh for total and irrecoverable loss of sight of one eye or loss of use of one hand or foot.

4. How can I enroll in Pradhan mantri suraksha bima yojana?

You can enroll in PMSBY offline by visiting your bank branch or online through your bank’s net banking facility. You need to fill out the application form and provide the required documents.

5. What is the premium for Pradhan mantri suraksha bima yojana?

The premium for PMSBY is Rs. 12 per annum per member, and it is deducted from the enr olled bank account.

6. What is the duration of coverage under PMSBY?

The coverage period under PMSBY is one year, from 1st June to 31st May of the following year.

7. Can I have multiple PMSBY policies?

No, each individual can have only one PMSBY policy, even if they hold multiple bank accounts.

8. What happens if I reach the age of 70 during the coverage period?

The coverage under PMSBY terminates when the insured individual reaches the age of 70 years (age nearer birthday).

9. How do I make a claim under PMSBY?

In the event of an accident, the nominee or legal heir can submit the claim form along with the required documents to the bank or insurance provider for processing.

10. Is PMSBY renewable?

Yes, PMSBY is renewable on an annual basis. You need to ensure that the premium is paid before the renewal date to continue the coverage.

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