Are you insured against accidents? If not, now is the time to get insured. With the rising uncertainties in life, it's essential to have an accident insurance policy to ensure financial protection for you and your loved ones. However, many insurance policies come with a hefty premium, making it challenging for common people to afford.
To address this issue, the central government has introduced the Pradhan Mantri Suraksha Bima Yojana (PMSBY), a government-backed accident insurance scheme that offers affordable premium rates. This scheme provides accident insurance coverage for just ₹20 per annum or ₹2 per month, making it accessible to people from all walks of life.
What is PM Suraksha Bima Yojana?
PMSBY is a government-backed accident insurance scheme that offers financial protection to individuals in case of accidents. The scheme was initially launched with a premium of ₹12, which was later increased to ₹20 per annum in June 2022. The scheme provides a lump-sum payment of ₹2 lakh to the nominee or the insured person in case of an accident.
Who is eligible for PM Suraksha Bima Yojana?
Any Indian citizen between 18 and 70 years of age can enroll in this scheme. The applicant must have an active savings bank account and provide consent for auto-debit of the premium.
Benefits of PM Suraksha Bima Yojana
The scheme offers the following benefits:
- Accident Insurance Coverage: ₹2 lakh accident insurance coverage in case of an accident.
- Low Premium: Just ₹20 per annum or ₹2 per month.
- Easy Enrollment: Simple and easy enrollment process.
How to Claim PM Suraksha Bima Yojana
In case of an accident, the nominee or the insured person can claim the insurance amount by submitting the necessary documents, including:
- Accident Documents: Documents related to the accident.
- Death Certificate: Death certificate in case of death.
- Disability Certificate: Disability certificate in case of disability.
How to Renew PM Suraksha Bima Yojana
The premium is auto-debited from the savings bank account on June 1st of every year. If the premium is not paid on time, the policy will lapse.
FAQs on PM Suraksha Bima Yojana
- How to pay the premium?
The premium is auto-debited from the savings bank account. - Can I enroll without a bank account?
No, an active savings bank account is mandatory. - Does the scheme continue after 70 years?
No, the scheme ends after 70 years. - How to claim the insurance amount?
By submitting the necessary documents, including accident documents, death certificate, or disability certificate.
By enrolling in the PM Suraksha Bima Yojana, you can ensure financial protection for your loved ones in case of an accident. With its low premium and easy enrollment process, this scheme is an ideal choice for people looking for affordable accident insurance coverage.