What is Pradhan Mantri Suraksha Bima Yojana (PMSBY)?
- The PMSBY Insurance Scheme is a personal accident insurance policy launched by the Government of India. It provides annual accident insurance coverage to eligible citizens through their bank accounts.
- This scheme is available for bank account holders aged between 18 and 70 years at a nominal premium of just ₹20 per year. The policy is valid for one year and can be renewed annually from 1st June to 31st May through auto-debit from the bank account.
- Provide affordable accident insurance to all citizen
- Ensure financial security for families after accidental death
- Promote insurance coverage among the poor and unorganized sector
- Reduce financial burden during accidental disability
- ₹2,00,000 for accidental death
- ₹2,00,000 for permanent total disability
- ₹1,00,000 for permanent partial disability
- Low premium accident insurance policy
- Government-backed and trusted insurance scheme
- Easy enrollment through bank account
To apply for the PMSBY Insurance Scheme, the applicant must meet the following criteria:
- Age between 18 and 70 years
- Must be an Indian citizen
- Should have an active savings bank account
- Aadhaar number linked to bank account
- Auto-debit facility enabled
- Accidental Death ₹2,00,000
- Permanent Total Disability ₹2,00,000
- Permanent Partial Disability ₹1,00,000
Policy Validity & Renewal
- Policy period: 1 June to 31 May
- Automatically renewed every year if sufficient balance is available in the bank account
Duration of PMSBY Policy
- PMSBY is a one-year accident insurance policy
- Policy period: 1st June to 31st May
- It is renewed automatically every year with auto-debit
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You can apply for Pradhan Mantri Suraksha Bima Yojana using the following methods:
- Visit your bank branch
- Fill the PMSBY application form
- Submit Aadhaar and consent form
- Enable auto-debit facility
- Apply through Net Banking
- Apply using Mobile Banking Apps
- Enrollment through Bank Mitra / CSP
- The PMSBY insurance claim process is simple and transparent:
- Inform the bank immediately after the accident
- Collect PMSBY claim form from the bank
- Submit required documents
- Bank forwards claim to insurance company
- Claim amount credited to nominee’s account
- PMSBY claim form
- Death certificate (if applicable)
- Disability certificate
- FIR / Police report
- Aadhaar card
- Bank account details
- Very low premium with high coverage
- Trusted government insurance policy
- Easy enrollment and claim process
- Ideal for workers, farmers, and self-employed individuals
- Strong financial protection for families
Frequently Asked Questions (FAQ) – PMSBY Insurance Scheme
- PMSBY is a government accident insurance scheme that provides ₹2 lakh insurance coverage in case of accidental death or permanent disability at a low annual premium of ₹20.
- Any Indian citizen aged between 18 and 70 years with an active bank account and Aadhaar linked is eligible to apply for PMSBY.
- The PMSBY premium is ₹20 per year, which is auto-debited from the policyholder’s bank account.
- Under the PMSBY Insurance Scheme, the benefits are:
- ₹2,00,000 for accidental death
- ₹2,00,000 for permanent total disability
- ₹1,00,000 for permanent partial disability
- No. PMSBY is an accident insurance policy, not a life insurance policy. It covers only accidental death and disability.
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