Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a government-backed accident insurance scheme launched by the Government of India in 2015. The scheme is aimed at providing affordable insurance coverage to individuals, especially those from disadvantaged sections of society, to protect them against the financial hardships that may arise due to accidental death or disability.
The PMSBY is available to all savings bank account holders in the age group of 18 to 70 years. The premium for the insurance coverage is just Rs. 12 per year, which is automatically deducted from the insured individual’s savings bank account. The scheme offers a personal accident cover of Rs. 2 lakhs in case of death or total permanent disability, and Rs. 1 lakh in case of partial permanent disability.
One of the key features of the PMSBY is its inclusiveness. The scheme is open to all savings bank account holders, regardless of their income levels or social backgrounds. This means that even individuals from economically weaker sections of society can avail of the insurance coverage offered by the scheme.
In addition to providing financial protection against accidental death and disability, the PMSBY also offers other benefits to its beneficiaries. These include the provision of free ambulance services in case of an accident, and the option to avail of free medical treatment at select hospitals across the country.
To enroll in the PMSBY, individuals are required to fill out a simple application form and submit it to their bank. The enrollment process is quick and easy, and the insurance coverage becomes effective immediately upon enrollment.
Overall, the PMSBY is a valuable insurance scheme that offers affordable and comprehensive protection to individuals against the financial hardships that may arise due to accidental death or disability. By providing accessible insurance coverage to all savings bank account holders, the scheme helps to ensure that individuals and their families are financially secure, even in the face of unforeseen circumstances.
Details
Benefits
Eligibility
Application Process
Offline
- In order to enroll in PMSBY offline, one can visit the where one has a savings account OR the candidate can visit official site https://jansuraksha.gov.in/Forms-PMSBY.aspx to download form.
- After downloading that application form candidate can fill in all the details and submits them to the bank attached with required documents.
- Once it is successfully submitted subscriber will get a Acknowledgement Slip Cum Certificate of Insurance
Documents Required
Is There Any Provision For Reimbursement Of Hospitalization Expenses Following an Accident Resulting In Death Or Disablement?
No
Who Can Claim Insurance Benefit In Case Of Death Of The Bank Account Holder Who Gave The Enrolment Form?
In case of death of the Account holder who enrolled in the scheme, claim can be filed by the nominee/appointee as per the enrolment form or by the legal heir/s in case there is no nomination made by the subscriber bank account holder.
What Is The Mode Of Payment Of The Claim Amount?
Disability Claim will be credited in the bank account of the insured bank account holder. Death claims will be remitted to the bank account of the nominee / legal heir(s).
Will The Family Get Insurance Benefit If The Account Holder Commits Suicide?
No
Is It Necessary To Report Accidents To Police And Obtain FIR For Claiming Benefits Under The Policy?
In case of incidents like Road, Rail and similar vehicular accidents, drowning, death involving any crime etc., the accident should be reported to police. In case of incidents like snake bite, fall from tree etc., the cause should be supported by immediate hospital record.
If The Insured Is Missing And Death Is Not Confirmed, Will The Legal Heirs Get Benefit Of Insurance?
PMSBY covers deaths confirmed by documentary evidence, to have been caused by accident.
What Benefit Will Be Payable If A Person Suffers Partial Disability Without Irrecoverable Loss Of Sight Of One Eye Or Loss Of Use Of One Hand Or Foot?
No benefit will be payable
Can An Account Holder Get Claim From More Than One Bank Where He Has Enrolled And Premium Has Been Debited?
No. The insured/ Nominee shall be eligible for one claim only.
Can A Individual Join PMSBY From Multiple Bank Accounts?
In case of multiple bank accounts held by an individual in one or different banks, the person would be eligible to join the scheme through one bank account only.
