Pradhan Mantri Suraksha Bima Yojana (PMSBY)
Highlights
- Low-cost personal accident insurance renewed automatically each year through auto-debit.
- Covers accidental death and permanent total disability at full sum assured, partial disability at half.
- Enrollment is through participating banks and post offices.
Website
Customer Care
Ask at your own bank branch or post office, which handles enrollment and claims for this scheme.
Information Brochure
Summary of the Scheme
| Name of Scheme | Pradhan Mantri Suraksha Bima Yojana (PMSBY) |
|---|---|
| Beneficiaries | Indian residents aged 18 to 70 with a bank or post office account |
| Benefit | Accidental death and disability cover for a low annual premium |
| Department / Implementing Agency | Ministry of Finance, Government of India |
| Subscription | Subscribe here to get updates about this scheme |
| Mode of Application | Online and Offline |
Scheme Introduction: A Brief Overview
Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a personal accident insurance scheme of the Government of India. It gives a bank or post office account holder accident cover for a low annual premium that is debited automatically from the linked account once a year.
The cover applies to accidental death and to permanent disability caused by an accident. Permanent total disability is covered at the full sum assured, and permanent partial disability at a reduced amount. The scheme does not cover death or illness from causes other than an accident.
Enrollment happens through the bank or post office where the account is held, either at the branch or through its net banking or mobile banking channel. Because premium and cover amounts are revised by the government from time to time, confirm the current figures with your bank or on the official scheme page before you enroll.
Benefits of the Scheme
- Accidental death cover.
- Permanent total disability cover.
- Permanent partial disability cover at a reduced amount.
- Very low annual premium auto-debited from the linked account.
Eligibility Criteria
- Age 18 to 70 years.
- Must hold a bank or post office savings account.
- Must consent to auto-debit of the annual premium.
Points to note before enrolling
- The cover is for accidents only, not for illness or natural death.
- Cover runs for one year and renews when the annual premium is auto-debited.
- Keep enough balance in the linked account on the auto-debit date, or the cover can lapse.
- Confirm the current premium and cover amount with your bank before enrolling.
Required Documents
- Bank or post office account details
- Aadhaar or another accepted identity proof
- Nominee details
Your bank or post office may ask for its own consent form in addition to these.
Steps to Apply
- Visit your bank branch, post office, or their online banking portal.
- Fill in the PMSBY enrollment form and nominee details.
- Authorize annual auto-debit of the premium.
- Retain the acknowledgement or policy confirmation.
Conditions to keep in mind
- Cover ends when the account holder crosses the upper age limit, the account is closed, or the premium is not debited.
- A person may hold cover under this scheme through only one account.
- Claims are filed through the bank or post office that holds the enrollment.
Important Links
Contact Details
Ministry of Finance, Department of Financial Services
Government of India
Ask at your bank or post office
Frequently Asked Questions
Any Indian resident between 18 and 70 years of age who holds a bank or post office savings account and agrees to auto-debit of the annual premium.
Accidental death, permanent total disability, and permanent partial disability at a reduced amount. It does not cover death or disability from causes other than an accident.
A low annual premium debited once a year from the linked account. Confirm the current premium and cover amount with your bank or on the official PMSBY page before enrolling.
Through the bank branch or post office where your account is held, or through its net banking or mobile banking channel.
One year at a time. It renews automatically when the next annual premium is debited, so keep enough balance in the account on the debit date.
No. A person is covered under this scheme through one account only. Confirm the current rule with your bank before enrolling.
Through the bank or post office that holds the enrollment. They will tell you which forms and documents are needed. Confirm the current premium and cover amount with your bank or on the official PMSBY page before enrolling.
Have a question about this scheme?
Join the discussion forum| Caste | Person Type | Scheme Type | Govt |
|---|---|---|---|
| All Categories | All Citizens, Worker | Insurance Safety Program | Central Government |
Comments (0)
No comments yet. Be the first to ask a question about this scheme.
Add new comment
A saved draft of your comment was restored.