Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a government-backed accident insurance scheme in India that provides financial protection to individuals at a very low annual premium. This scheme is specially designed to offer ₹2 lakh accident insurance coverage in case of accidental death or permanent disability.
Objectives of PMSBY Insurance Scheme
To apply for the PMSBY Insurance Scheme, the applicant must meet the following criteria:
How to Apply for PMSBY Insurance Scheme
Offline Application
1. What is Pradhan Mantri Suraksha Bima Yojana (PMSBY)?
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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