Overview of Pradhan Mantri Suraksha Bima Yojana (PMSBY)
The Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a transformative government-backed insurance scheme launched by the Ministry of Finance to provide affordable accidental insurance to Indian citizens. For just ₹20 per year, eligible individuals receive a robust coverage of ₹2 Lakhs in case of accidental death or permanent disability. This powerful initiative empowers financially vulnerable sections of society by offering vital security during unexpected mishaps. PMSBY is more than just a policy — it’s a social safety net that supports millions in times of crisis.
In a world where medical emergencies and accidents can derail entire families, PMSBY offers a sense of relief and preparedness. For just ₹20 a year, you gain peace of mind knowing your loved ones are financially protected in case of an unforeseen accident. Its simplicity, affordability, and broad accessibility make it one of the most impactful social welfare schemes launched in India. Don’t miss the chance to enroll or help someone else get insured — it could mean everything when it matters most.
- Coverage Period: 1st June – 31st May (auto-renewed)
- Annual Premium: ₹20 (auto-debited)
- Provider: Participating banks and insurers
Key Features of Pradhan Mantri Suraksha Bima Yojana (PMSBY)
| Feature | Details |
|---|---|
| Scheme Type | Accident Insurance |
| Eligibility Age | 18–70 years |
| Coverage Period | 1 year (renewable) |
| Premium | ₹20/year (auto-debited) |
| Account Type | Savings account required |
| Auto-Debit | Mandatory for enrollment |
Benefits Under Pradhan Mantri Suraksha Bima Yojana (PMSBY)
| Incident | Insurance Payout |
|---|---|
| Accidental Death | ₹2 Lakhs |
| Total loss of both eyes/hands/feet | ₹2 Lakhs |
| Loss of one eye + one limb | ₹2 Lakhs |
| Loss of one eye or one limb | ₹1 Lakh |
Nominee/legal heir will receive the insurance benefit.
Eligibility for Pradhan Mantri Suraksha Bima Yojana (PMSBY)
To enroll in Pradhan Mantri Suraksha Bima Yojana (PMSBY), you must:
- Be an Indian citizen aged 18–70
- Hold a savings account with sufficient balance
- Provide consent for auto-debit of ₹20
- Register only once (multiple accounts won’t increase benefit)
Coverage Will Terminate If:
- Subscriber reaches age 70
- Account is closed or balance is insufficient
- Multiple accounts are used (only one is considered)
How to Enroll in Pradhan Mantri Suraksha Bima Yojana (PMSBY)
Offline:
- Visit your bank/post office
- Download & fill out the PMSBY Form (PDF)
- Submit ID + nominee details
Online:
- Log in to your bank’s net banking or app
- Navigate to “Insurance” or “Govt Schemes”
- Select Pradhan Mantri Suraksha Bima Yojana
- Give consent for auto-debit
Required Documents
- Aadhaar or Voter ID
- Savings account details
- Nominee information
(Requirements may vary slightly by bank.)
Contact & Support
- National Helplines: 1800-180-1111 / 1800-110-001
- State-Wise Contact List (PDF)
Frequently Asked Questions (FAQs)
Q1. Is PMSBY hospitalization coverage included?
No, PMSBY only covers accidental death or permanent disability. Hospitalization costs are not reimbursed under this scheme.
Q2. Who can claim the insurance benefit?
The nominee named in the enrollment form can claim the benefit. If no nominee is listed, the legal heir of the account holder may apply.
Q3. Is suicide covered under PMSBY?
No, suicide or self-inflicted injuries are not covered under the scheme.
Q4. Can NRIs enroll in PMSBY?
No, only resident Indian citizens with eligible bank accounts can join.
Q5. What is the age limit for joining PMSBY?
You must be between 18 and 70 years of age to be eligible.
Q6. How is the premium paid for PMSBY?
The annual premium of ₹20 is auto-debited from the subscriber’s savings account before June 1st each year.
Q7. Can I enroll in PMSBY from multiple bank accounts?
Yes, but the claim benefit is limited to a total of ₹2 Lakhs. Multiple enrollments do not increase the benefit.
Q8. Can I rejoin if I missed previous years?
Yes, eligible individuals can rejoin the scheme in subsequent years by submitting fresh consent and ensuring their account has sufficient balance.
Final Thoughts
The Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a powerful initiative supporting financial security for millions. For just ₹20 annually, you or your loved ones can be safeguarded against life-altering accidents. Make sure to enroll and spread the word to those who need it most.
By investing less than the price of a cup of tea per year, you’re not just purchasing insurance — you’re investing in peace of mind. This scheme is especially impactful for low-income households that lack formal insurance coverage. Encourage others in your community to take advantage of this government-backed protection and build a safety net for the future.
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Also read: Pradhan Mantri Vidyalaxmi Scheme – Apply Online, Eligibility, and Full Details