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PM Suraksha Bima Yojana (PMSBY) Gujarat

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PM Suraksha Bima Yojana (PMSBY) Gujarat

As you all know that the scheme Pradhan Mantri Suraksha Bima Yojana is a central government scheme. The central government has launched this scheme for the security of the poor people of the nation.

This scheme is one type of insurance scheme. Under this scheme, the government will give insurance to the poor people against the accident. The government will have to take the premium from the poor people. However, the government set a lower premium for the poor people under this scheme. 

The government will give security to poor people. The central government has launched this scheme in the year 2015. The government will allow poor people to take insurance from the government. The government will give accidental insurance to the people of the nation.

This scheme is a central government scheme, and the people of the country will get the benefits of this scheme. With the help of this scheme, the central government will give insurance against the accident.

Who will get the benefit of this scheme?
The benefits of Pradhan Mantri Suraksha Bima Yojana can be availed by any citizen from the age of 18 to 70 years. In this plan, the insurer has to pay a premium of Rs. 1 per month.

How to avail the benefits of this scheme?
The application form can be downloaded from the website of Financial Services or from the link Download Form . Or visit the bank. The form is available in English, Hindi, Gujarati, Bengali, Kannada, Oriya, Marathi, Telugu and Tamil. You can take this insurance through any bank. In the public sector, private banks have also provided complete information related to their websites. The applicant must have a bank account to avail this scheme. Thus the premium amount is deducted from your account only. The bank will automatically deduct the premium amount from your account every year. It is important that you always keep a minimum amount in the savings account as per the rules of the bank. If for some reason the auto debit of the premium fails, your insurance cover will expire.

Highlights of the Pradhan Mantri Suraksha Bima Yojana (PMSBY – Scheme 1 – for Accidental Death Insurance) are:

Eligibility: ICICI Bank Savings Bank (SB) Account holders between 18 years (completed) and 70 years (age nearer birthday) who give their consent to join / enable auto-debit, as per the modality, will be enrolled into the scheme.

Policy period: The cover shall be for one year starting from June 1 to May 31 of next year. For the Saving Account holder joining on or after June 1, the cover shall commence from the date of premium debit and end on May 31 of next year.

Premium: Rs. 12 per annum.

Payment Mode: The premium will be directly auto-debited by the Bank from the subscribers savings account held with the Bank. This is the only mode available. For renewal of the policy, it will be auto debited between May 25 and May 31, unless the customer has given a cancellation request to the Bank for the policy. 

Risk Coverage: Total coverage (sum-insured) under the scheme is Rs. 2 Lakh.

Table of Benefits Sum Insured

I. Death Rs. 2 Lakh
II. Total and irrecoverable loss of both eyes or loss of use of both hands or feet or loss of sight of one eye and loss of use of one hand or one foot Rs. 2 Lakh
III. Total and irrecoverable loss of sight of one eye or loss of use of one hand or one foot Rs. 1 Lakh

The total amount that can be claimed under the policy is INR 2 lakh only

The cover is subject to exclusions of the policy.

Exclusions:
Major Exclusions: Intentional self injury, suicide or attempted suicide whilst under the influence of intoxication liqour or drugs, Any loss arising from an act made in breach of law with or without criminal intent.” For more details, please refer the Master Policy wordings.

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