The Pradhan Mantri Suraksha Bima Yojana (PMSBY) is an insurance scheme launched by Indian government to provide affordable coverage for accidental death or disability to Indian citizen. You have to pay a nominal annual premium of just Rs.20 to enroll in this scheme.
Here, we’ll guide you on how you can apply under PMSBY, check eligibility, and claim for it. Read this guide till the end to know all about it and take the maximum advantage.
What is PMSBY (Pradhan Mantri Suraksha Bima Yojana)?
Firstly we need to understand what is Pradhan Mantri Suraksha Bima Yojana (PMSBY)? It is launched by the Indian Government to offer insurance coverage for accidental death or permanent disabilities by accidents. This scheme run on an affordable premium per annum and provides financial support at the time of need during above said conditions to individuals across India.
- Premium Amount: Rs.20 per annum.
- Coverage: Rs.2 lakh for accidental death or permanent total disability, and Rs.1 lakh for permanent partial disability.
This scheme is available to individuals between 18 and 70 years and can be renewed annually.
Key Features of PMSBY
- Low Premium: At just Rs.20 per annum, it is one of the most affordable insurance schemes.
- High Coverage: Provides up to Rs.2 lakh insurance coverage.
- Auto-Renewal: You have to opt for auto deduct premium to automatically deduct it each year from your linked saving bank account.
- Its Coverage: This scheme covers accidental death, loss of eyesight (one or both), and loss of limbs (one or both).
- Easy Enrollment: This scheme provides facility to enroll through its associated banks and post offices so that you can easily follow the enrollment process.
Benefits of PMSBY
- Accidental Death: ₹2 lakh to the nominee.
- Permanent Total Disability: ₹2 lakh (e.g., loss of both eyes or both limbs).
- Permanent Partial Disability: ₹1 lakh (e.g., loss of sight in one eye or one limb).
- Peace of Mind: Provides financial security for families during emergencies.
Eligibility Criteria For Pradhan Mantri Suraksha Bima Yojana
To apply for PMSBY, there is certain eligibility criteria that needs to be fulfilled before you apply which is as below:
1. Age Limit:
- Minimum: 18 years (completed).
- Maximum: 70 years (age closer to the birthday).
2. Bank Account:
A savings account in a participating bank or post office is required.
3. Consent for Auto-Debit:
The annual premium of ₹20 is auto-debited from the account.
Documents Required:
- Aadhaar Card (linked to the bank/post office savings account).
- Contact details for communication.
How to Apply for PMSBY?
You can apply for PMSBY both online or offline as per your convenience. Following is the step-by-step guide for you to follow easily:
1. Online Application Process
- Step 1: Firstly open the official website of https://jansuraksha.gov.in/.
- Step 2: Now choose PMSBY from the menu on the homepage and log in using your registered bank account details and aadhaar number.
- Step 3: Fill in the application form by typing your name, address, and Aadhaar number.
- Step 4: At this point you need to select auto-debit option for the premium to deduct every year from your linked bank or post office saving account.
- Step 5: Submit the form and receive an acknowledgment slip keep it safe with you.
2. Offline Application Process
- Step 1: Visit your bank branch or post office where you hold a savings account.
- Step 2: Ask the staff for PMSBY enrollment form.
- Step 3: Fill this form carefully, attach your Aadhaar card, and submit your form to the bank manager to proceed your application.
- Step 4: The bank will process your request, and you will receive a copy of Certificate of your Insurance.
How to Check Eligibility for PMSBY?
To confirm your eligibility for PMSBY, follow these steps:
- Visit official website of PMSBY on the link above to verify your eligibility status.
- Enter your age eligibility (18–70 years) byclicking on yes or no.
- Check yes or no option on ‘Is you have linked your savings account with aadhaar’.
- Now you will see if you are eligible or not.
Key Exclusions Under PMSBY
While PMSBY covers various accidental events, it has a few exclusions:
- Suicide: Death by suicide is not covered.
- Self-Inflicted Injuries: Injuries caused intentionally by the insured are not included.
- Natural Death: Only deaths caused by accidents are covered.
- Multiple Enrollments: If enrolled in PMSBY through multiple accounts, the insurance benefit is limited to ₹2 lakh.
Steps to Claim Insurance Benefits of PMSBY
In case of an accident or death, you will have to follow below given steps to claim your insurance benefits:
1. Notify the Bank: Inform the bank or insurance company immediately.
2. Submit Claim Form: Obtain the claim form from the bank or download it from https://jansuraksha.gov.in/.
3. Attach Required Documents:
- FIR or accident report.
- Death certificate (in case of death).
- Disability certificate (for disability claims).
4. Claim Processing: The claim will be processed, and the amount will be credited to the nominee or insured’s account.
Important Points About PMSBY
- Renewal: Ensure your account has sufficient balance for auto-debit before 1st June each year to pay its yearly premium.
- Coverage Termination: Coverage will be end when the insured person turns 70, person closes linked bank or post office account, or fails to maintain sufficient balance to deduct premium.
- Nominee: Always nominate a beneficiary during enrollment to avoid complications during claims.
Why Should You Enroll in PMSBY?
PMSBY is ideal for individuals seeking low-cost insurance coverage. It provides peace of mind and ensures financial protection for your family in case of accidental death or disability. Whether you’re a student, a salaried employee, or a homemaker, PMSBY offers affordable and essential coverage for everyone.
FAQs on PMSBY
Q: Can NRIs apply for PMSBY?
A: Yes, NRIs can apply, but claims will be processed in Indian currency and credited to a nominee/legal heir in India.
Q: Is an FIR mandatory for claiming benefits?
A: Yes, an FIR or accident report is required to claim benefits.
Q: What happens if the insured has multiple accounts with PMSBY?
A: The maximum insurance coverage is ₹2 lakh, even if enrolled through multiple accounts.
Q: Does PMSBY cover natural calamities?
A: Yes, deaths or disabilities caused by natural calamities like floods or earthquakes are covered.
Q: Can individuals rejoin the scheme after leaving?
A: Yes, individuals can rejoin by paying the premium again.
The Pradhan Mantri Suraksha Bima Yojana is an innitiative of Indian Government towards financial support and security for all Indian citizens. With its affordable premium and simple application process, PMSBY is easily available for every eligible individual to financially safe their family against the uncertainties of life.
To contact for support you can use toll-free number 1800-180-1111 / 1800-110-001.
