Pradhan Mantri Suraksha Bima Yojana (PMSBY) – Complete Information
Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a flagship Government of India accident insurance scheme launched under the Jan Suraksha initiative. The scheme provides financial protection against accidental death and disability at a very low annual premium.
This yojana is especially beneficial for low-income families, workers, and common citizens who want affordable accident insurance coverage.
Key Highlights of PMSBY
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Scheme Name: Pradhan Mantri Suraksha Bima Yojana (PMSBY)
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Insurance Type: Accident Insurance
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Coverage Amount: Up to ₹2 Lakh
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Annual Premium: ₹20 only
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Coverage Period: 1st June to 31st May
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Mode of Payment: Auto-debit from bank/post office account
PMSBY Premium Details
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₹20 per annum per member
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Premium is automatically deducted from the linked bank or post office account
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Auto-debit happens on or before 1st June every year
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Account must have sufficient balance to keep the policy active
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Coverage Duration Under PMSBY
Coverage under Pradhan Mantri Suraksha Bima Yojana is valid for one year, starting from 1st June to 31st May, subject to timely payment of the annual premium.
PMSBY Accident Insurance Benefits
1. Accidental Death Benefit
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₹2 Lakh paid to the nominee or legal heir
2. Total Permanent Disability
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Loss of both eyes
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Loss of both hands or feet
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Loss of sight of one eye and loss of use of one hand or foot
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Benefit Amount: ₹2 Lakh
3. Partial Permanent Disability
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Loss of sight of one eye
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Loss of use of one hand or foot
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Benefit Amount: ₹1 Lakh
❌ No benefit is payable for partial disability without permanent loss.
Eligibility Criteria for PMSBY
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Age should be 18 to 70 years (age nearer birthday)
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Must have an individual savings bank or post office account
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Consent for auto-debit is mandatory
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Institutional account holders are not eligible
PMSBY for NRIs
NRIs are eligible if they have a bank account in India. Claim amount will be paid only in Indian currency.
When Does PMSBY Insurance Cover Terminate?
Insurance cover will terminate in the following cases:
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On attaining 70 years of age
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Closure of bank/post office account
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Insufficient balance for premium deduction
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Multiple enrollments (coverage limited to ₹2 lakh only)
PMSBY Application Process
Offline Application Process
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Visit your bank branch or post office
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Download the PMSBY form from the official website
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Fill the form and submit with required documents
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Receive Acknowledgement Slip & Insurance Certificate
Online Application Process
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Apply through your bank’s net banking facility
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Enable auto-debit consent
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Coverage starts after premium deduction
PMSBY Claim Process & Payment Mode
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Disability Claims: Amount credited directly to insured’s bank account
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Death Claims: Paid to nominee or legal heir’s bank account
Important Claim Conditions
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FIR is required for road, rail, drowning, or criminal accidents
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Hospital records required for cases like snake bite or fall
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Suicide cases are not covered
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Missing persons without confirmed accidental death are not eligible
Frequently Asked Questions (FAQs)
❓ Is hospitalization expense reimbursed?
No, PMSBY does not cover hospitalization expenses.
❓ Can a person enroll through multiple banks?
No. Only one bank or post office account is allowed.
❓ Can exited members rejoin PMSBY?
Yes, individuals can rejoin in future years by paying the premium.
Important PMSBY Links
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Official Website: Click Here
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PMSBY Application Form: Click Here
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State-wise Toll-Free Numbers: Click Here
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National Toll-Free Numbers:
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1800-180-1111
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1800-110-001
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Conclusion
Pradhan Mantri Suraksha Bima Yojana (PMSBY) is one of the best low-cost accident insurance schemes in India, offering ₹2 lakh coverage at just ₹20 per year. Every eligible bank or post office account holder should enroll to secure their family’s financial future against unforeseen accidents.
👉 Apply today and ensure accident insurance protection at minimal cost.
