Introduction of Scheme – The Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a government-backed accidental insurance scheme in India, launched by the Government of India. It was announced by the Finance Minister Arun Jaitley in the 2015 Union Budget and officially launched on 9th May 2015.
Some More Information About This Scheme – PMSBY provides accidental death and disability cover to individuals in India at a very nominal premium. The scheme is available to people in the age group of 18 to 70 years with a savings bank account and enables them to receive coverage of Rs. 2 lakh (approximately 2,800 USD) for accidental death and total permanent disability and Rs. 1 lakh (approximately 1,400 USD) for partial permanent disability.
Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a government-backed accident insurance scheme in India. Here’s how you can apply for it:
- Eligibility Criteria: Ensure you meet the eligibility criteria for the scheme. Generally, individuals aged between 18 to 70 years with a savings bank account are eligible to enroll.
- Savings Bank Account: You need to have a savings bank account in any participating bank to enroll in the scheme. If you don’t have one, open a savings bank account in a participating bank.
- Application Form: Obtain the Pradhan Mantri Suraksha Bima Yojana application form from your bank branch. You can also download it from the official website of the bank or from the government’s official website.
- Fill in Details: Fill in the required details accurately in the application form. This includes personal information such as name, address, age, nominee details, etc.
- Submit Form: Once you’ve filled in the form, submit it along with the necessary documents (if any) to your bank branch. The documents required are usually minimal, including proof of identity and address.
- Premium Payment: Pay the annual premium. The premium amount for the Pradhan Mantri Suraksha Bima Yojana is nominal, making it accessible to a large section of the population.
- Confirmation: Once your application is processed and the premium is paid, you’ll receive confirmation of enrollment from the bank. This confirmation may be in the form of a certificate or acknowledgment.
- Policy Details: Familiarize yourself with the policy details, including coverage, terms, and conditions. Understand the benefits provided under the scheme.
- Renewal: The policy needs to be renewed annually by paying the premium. Ensure timely renewal to continue availing the benefits of the scheme.
Click Here for Application Form – Pradhan Mantri Suraksha Bima Yojana application form
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