Medical expenses are rising, making it crucial to have an emergency fund or insurance cover. That’s why the government has launched the Pradhan Mantri Suraksha Bima Yojana. Under this scheme, you can get insurance cover of up to ₹2 lakh by paying a premium of just ₹20 per month. The premium will be deducted from the account holder’s bank/post office account through the ‘auto debit’ facility.
Contents
PMSBY Eligibiliy
- Anyone between the ages of 18 and 70 can apply for this scheme.
- Applicants must also have a savings account with a bank or financial institution.
- Under this plan, you get accidental cover.
- The insurance coverage can also be renewed annually.
Documents Required for PMSBY
✅ Identity proof: Aadhar card or any government-issued ID.
✅ Bank account details: Savings account information for auto-debit setup.
✅ The application form is not required for online enrolments. Instead, consent for auto-debit via net banking or other platforms suffices.
What all is covered in PMSBY?
- If a person dies due to an accident, their family receives up to ₹2 lakh.
- If they become completely disabled due to the accident, they receive a sum assured of ₹2 lakh.
- Similarly, insurance cover up to Rs 1 lakh is provided for partial disability.
- If a person dies due to natural causes or illness, insurance cover is not provided.
Banks Participating in Pradhan Mantri Suraksha Bima Yojana
| Allahabad Bank | Dena Bank |
| Axis Bank | Federal Bank |
| Bank of India | HDFC Bank |
| Bank of Maharashtra | ICICI Bank |
| Bharatiya Mahila Bank | IDBI Bank |
| Canara Bank | IndusInd Bank |
| Central Bank | Kerala Gramin Bank |
| Corporation Bank | Kotak Bank |
| Oriental Bank of Commerce | Syndicate Bank |
| Punjab and Sind Bank | UCO Bank |
| Punjab National Bank | Union Bank of India |
| State Bank of Hyderabad | United Bank of India |
| State Bank of India | Vijaya Bank |
Application Process
Step 01: In order to enrol in PMSBY offline, candidate can visit the official site: https://jansuraksha.gov.in/Forms-PMSBY.aspx to download the form.
Step 02: After downloading the application form , candidate can fill in all the details and submit them to the bank along with the required documents.
Step 03: Once it is successfully submitted , subscriber will get an Acknowledgement Slip Cum Certificate of Insurance.
The Pradhan Mantri Suraksha Bima Yojana is a government-backed accident insurance scheme that provides affordable coverage for accidental death and disability. PMSBY is one of the greatest social security programmes. It offers life protection to those with fewer means without considerably reducing savings.