Pradhan Mantri Suraksha Bima Yojana- (PMSB) Details | Department of Financial Services
Pradhan Mantri Suraksha Bima Yojana- (PMSB) Details | Department of Financial Services.
The Scheme is available to people in the age group 18 to 70 years with a bank account who give their consent to join / enable auto-debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis. Aadhar would be the primary KYC for the bank account. The risk coverage under the scheme isRs.2 lakh for accidental death and full disability and Rs. 1 lakh for partial disability. The premium of Rs. 12 per annum is to be deducted from the account holder’s bank account through ‘auto-debit’ facility in one installment. The scheme is being offered by Public Sector General Insurance Companies or any other General Insurance Company who are willing to offer the product on similar terms with necessary approvals and tie up with banks for this purpose.
Pradhan Mantri Suraksha Bima Yojana has been announced by the government of India as one of the three social security schemes. PMSBY is an accidental insurance scheme that provides accidental death and disability coverage for one year, with an annual renewal.
With the minimum premium rate of Rs. 12/- per annum this policy is most beneficial to the poor and low-income section of the society. Pradhan Mantri Suraksha Bima Yojana provides life coverage of Rs. 2 lakh for the accidental demise and permanent total disability and Rs. 1 lakh for permanent partial disability.
Individuals within the age group of 18-70 years having a participating savings bank account can subscribe to this scheme. In case you have more than one saving bank account you can subscribe to the scheme by using only one saving bank account. To help you know more about the Pradhan Mantri Suraksha Bima Yojana, further in this article we have briefly discussed the various aspects of the policy
What is Covered Under PMSBY Policy and for How Much?
As defined under Pradhan Mantri Suraksha Bima Yojana any death, accidents, and disability caused due to natural calamities is covered by the policy. However, the plan does not provide any coverage against suicide but death due to murder is covered under the policy. The plan also does not provide any coverage in case of irrecoverable loss of eyesight loss of one hand or foot.
Process to Subscribe Pradhan Mantri Suraksha Bima Yojana through SMS:
The eligible subscriber is sent an SMS asking them to respond with ‘PMSBY<space>Y’.
In order to enroll the scheme, the subscribers need to reply to the SMS ‘PMSBY<space>Y’.
In response the customer to the SMS an acknowledgment message is sent to the customer.
For further processing, the application must have details of the subscriber’s name, marital status, date of birth etc.
The details are taken directly from the participating bank account of the subscriber.
In case the required details of the subscriber are not available in the banking records, the confirmation process will not be taken forward and the subscribers will have to apply physically from the nearest branch.
If auto debit of the premium fails as a result of insufficient balance the coverage of the policy will cease but the policy will still be in force.
Process to Subscribe Pradhan Mantri Suraksha Bima Yojana through Net-Banking:
Log in to the official website of the policy and click on the insurance tab.
Choose from both the schemes available on the page.
Select an account via which you want to pay the premium.
According to the selected account the policy cover amount, nominee details and premium amount will be displayed on the screen. You can either choose the saving account nominee or add a new nominee.
5-Once you are done with provide the name of your policy nominee click on the following details: -
Good health declaration.Scheme details, terms, and conditions
“I do not hold any other policy for the same”
6- once you click the continue button the detailed policy will be displayed on the screen.
7- Verify the details filled in the application form and click on confirm.
8- You will be provided with an acknowledgment slip which has a unique identification number.
9- For any further reference don’t forget to save the acknowledgment number.
Eligibility Criteria for PMSBY:Individuals between the age group of 18-70 years are eligible to buy PMSBY. Moreover, NRI’s too can join the policy, provided that any claims will be paid to the beneficiary of the policy in should be in the Indian currency.
What to do in Case of Claim:The Pradhan Mantri Suraksha Bima Yojana provides accidental death and disability coverage which is confirmed by documentary evidence. In case of accidental demise of the insured person, the accident should be reported to the police station and should be clarified by immediate hospital records. The claim can be filed by the beneficiary of the policy mentioned in the enrolment form by the insured. In case of the disability claim, the sum assured amount will be credited to the bank account of the policyholder and in case of death, the death benefit will be paid to the beneficiary of the policy.
Pradhan Mantri Suraksha Bima Yojana Detail in Gujarati || Pradhan Mantri Suraksha Bima Yojana - Features And Benefits - https://www.jansuraksha.gov.in/
Funds to be given in PMSBY – Pradhan Mantri Suraksha Bima Yojana
Status of insurance Sum Assured Death of Rs. Rs 1 lakh in case of complete loss of sight of one eye and inability to return or inability to use one arm and leg
Benefits of Pradhan Mantri Suraksha Bima Yojana
The benefits of this scheme will be provided to all sections of the people of the country but especially to the backward and poor sections of the country.
If a person dies in a road accident or any other accident. Accident insurance up to Rs. 2 lakhs will be provided to his family by the government
In case of permanent partial disability, cover is Rs. 1 lakh
If he is temporarily disabled in an accident, he is given insurance cover up to Rs. One lakh.
Under Pradhan Mantri Suraksha Bima Yojana, the policyholder has to pay a premium of Rs. 12 per annum. Only then will he be entitled to security insurance
In addition, if they are not able to pay for any type of insurance plans available with private or any public sector insurance companies, then they are all entitled to this plan.
Pradhan Mantri Suraksha Bima Yojana will be renewed every year with cover for one year.
The bank can engage any insurance company of its choice to offer this PMSBY.
Especially people living in rural areas of the country. Pradhan Mantri Suraksha Bima Yojana provides them insurance.
Pradhan Mantri Jan Arogya Yojana PMJAY
Eligibility for Pradhan Mantri Suraksha Bima Yojana
Applicant must be an Indian resident
Under Pradhan Mantri Suraksha Bima Yojana, the age of the applicant should be from 18 years to 70 years and not more
The candidate must have an active savings bank account.
The applicant has to sign a consent form for auto debit of policy premium.
The entire 12 premiums will be deducted simultaneously on May 31 of each year
In case the bank account is closed, the policy will expire
The policy cannot be renewed if the premium is not paid
Documents of Pradhan Mantri Suraksha Bima Yojana
Aadhaar card of the applicant
Identity card
Bank account passbook
Age certificate
Income certificate
Mobile number
Passport size photo
Pradhan Mantri Suraksha Bima Yojana- (PMSB) Details | Department of Financial Services.
The Scheme is available to people in the age group 18 to 70 years with a bank account who give their consent to join / enable auto-debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis. Aadhar would be the primary KYC for the bank account. The risk coverage under the scheme isRs.2 lakh for accidental death and full disability and Rs. 1 lakh for partial disability. The premium of Rs. 12 per annum is to be deducted from the account holder’s bank account through ‘auto-debit’ facility in one installment. The scheme is being offered by Public Sector General Insurance Companies or any other General Insurance Company who are willing to offer the product on similar terms with necessary approvals and tie up with banks for this purpose.
Pradhan Mantri Suraksha Bima Yojana has been announced by the government of India as one of the three social security schemes. PMSBY is an accidental insurance scheme that provides accidental death and disability coverage for one year, with an annual renewal.
With the minimum premium rate of Rs. 12/- per annum this policy is most beneficial to the poor and low-income section of the society. Pradhan Mantri Suraksha Bima Yojana provides life coverage of Rs. 2 lakh for the accidental demise and permanent total disability and Rs. 1 lakh for permanent partial disability.
Individuals within the age group of 18-70 years having a participating savings bank account can subscribe to this scheme. In case you have more than one saving bank account you can subscribe to the scheme by using only one saving bank account. To help you know more about the Pradhan Mantri Suraksha Bima Yojana, further in this article we have briefly discussed the various aspects of the policy
What is Covered Under PMSBY Policy and for How Much?
Under Pradhan Mantri Suraksha Bima Yojana a death benefit of Rs. 2 lakh is available to the beneficiary of the policy in case of accidental demise of the insured person. Moreover, coverage of Rs. 2 lakh is provided in case of total disability like irrecoverable or total loss of both the eyes, or loss of use of both the hands and feet, paralysis, etc. In case of partial disability, a life coverage of Rs1lakh is provided to the insured person.
The coverage provided by PMSBY is in addition to any other insurance plan the subscriber has. As this is a pure life insurance plan the scheme does not offer any mediclaim i.e. it does not offer any reimbursement of hospitalization expenses caused due to an accident.
Inclusion and Exclusion:
The coverage provided by PMSBY is in addition to any other insurance plan the subscriber has. As this is a pure life insurance plan the scheme does not offer any mediclaim i.e. it does not offer any reimbursement of hospitalization expenses caused due to an accident.
Inclusion and Exclusion:
As defined under Pradhan Mantri Suraksha Bima Yojana any death, accidents, and disability caused due to natural calamities is covered by the policy. However, the plan does not provide any coverage against suicide but death due to murder is covered under the policy. The plan also does not provide any coverage in case of irrecoverable loss of eyesight loss of one hand or foot.
Process to Subscribe Pradhan Mantri Suraksha Bima Yojana through SMS:
The eligible subscriber is sent an SMS asking them to respond with ‘PMSBY<space>Y’.
In order to enroll the scheme, the subscribers need to reply to the SMS ‘PMSBY<space>Y’.
In response the customer to the SMS an acknowledgment message is sent to the customer.
For further processing, the application must have details of the subscriber’s name, marital status, date of birth etc.
The details are taken directly from the participating bank account of the subscriber.
In case the required details of the subscriber are not available in the banking records, the confirmation process will not be taken forward and the subscribers will have to apply physically from the nearest branch.
If auto debit of the premium fails as a result of insufficient balance the coverage of the policy will cease but the policy will still be in force.
Process to Subscribe Pradhan Mantri Suraksha Bima Yojana through Net-Banking:
Log in to the official website of the policy and click on the insurance tab.
Choose from both the schemes available on the page.
Select an account via which you want to pay the premium.
According to the selected account the policy cover amount, nominee details and premium amount will be displayed on the screen. You can either choose the saving account nominee or add a new nominee.
5-Once you are done with provide the name of your policy nominee click on the following details: -
Good health declaration.Scheme details, terms, and conditions
“I do not hold any other policy for the same”
6- once you click the continue button the detailed policy will be displayed on the screen.
7- Verify the details filled in the application form and click on confirm.
8- You will be provided with an acknowledgment slip which has a unique identification number.
9- For any further reference don’t forget to save the acknowledgment number.
Eligibility Criteria for PMSBY:Individuals between the age group of 18-70 years are eligible to buy PMSBY. Moreover, NRI’s too can join the policy, provided that any claims will be paid to the beneficiary of the policy in should be in the Indian currency.
What to do in Case of Claim:The Pradhan Mantri Suraksha Bima Yojana provides accidental death and disability coverage which is confirmed by documentary evidence. In case of accidental demise of the insured person, the accident should be reported to the police station and should be clarified by immediate hospital records. The claim can be filed by the beneficiary of the policy mentioned in the enrolment form by the insured. In case of the disability claim, the sum assured amount will be credited to the bank account of the policyholder and in case of death, the death benefit will be paid to the beneficiary of the policy.
Pradhan Mantri Suraksha Bima Yojana Detail in Gujarati || Pradhan Mantri Suraksha Bima Yojana - Features And Benefits - https://www.jansuraksha.gov.in/
Final Thoughts:With all these benefits and features offered by this policy and with its minimal premium rates, Pradhan Mantri Suraksha Bima Yojana is one of the best social security schemes. It provides life protection to those of lesser means without hurting their savings significantly
Funds to be given in PMSBY – Pradhan Mantri Suraksha Bima Yojana
Status of insurance Sum Assured Death of Rs. Rs 1 lakh in case of complete loss of sight of one eye and inability to return or inability to use one arm and leg
Benefits of Pradhan Mantri Suraksha Bima Yojana
The benefits of this scheme will be provided to all sections of the people of the country but especially to the backward and poor sections of the country.
If a person dies in a road accident or any other accident. Accident insurance up to Rs. 2 lakhs will be provided to his family by the government
In case of permanent partial disability, cover is Rs. 1 lakh
If he is temporarily disabled in an accident, he is given insurance cover up to Rs. One lakh.
Under Pradhan Mantri Suraksha Bima Yojana, the policyholder has to pay a premium of Rs. 12 per annum. Only then will he be entitled to security insurance
In addition, if they are not able to pay for any type of insurance plans available with private or any public sector insurance companies, then they are all entitled to this plan.
Pradhan Mantri Suraksha Bima Yojana will be renewed every year with cover for one year.
The bank can engage any insurance company of its choice to offer this PMSBY.
Especially people living in rural areas of the country. Pradhan Mantri Suraksha Bima Yojana provides them insurance.
Pradhan Mantri Jan Arogya Yojana PMJAY
Eligibility for Pradhan Mantri Suraksha Bima Yojana
Applicant must be an Indian resident
Under Pradhan Mantri Suraksha Bima Yojana, the age of the applicant should be from 18 years to 70 years and not more
The candidate must have an active savings bank account.
The applicant has to sign a consent form for auto debit of policy premium.
The entire 12 premiums will be deducted simultaneously on May 31 of each year
In case the bank account is closed, the policy will expire
The policy cannot be renewed if the premium is not paid
Documents of Pradhan Mantri Suraksha Bima Yojana
Aadhaar card of the applicant
Identity card
Bank account passbook
Age certificate
Income certificate
Mobile number
Passport size photo
National Toll Free : 1800-180-1111 / 1800-110-001
Important links
GOVERNMENT YOJANA (PMSBY) Pradhan Mantri Suraksha Vima Yojana And How to Apply Full Details-2020-21.
Pradhan Mantri Suraksha Bima Yojana(PMSBY) About :
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