Pradhan Mantri Suraksha Bima Yojana (PMSBY) was started by the government in the year 2015. People in the age group of 18 to 70 years can take advantage of this scheme.
The Central Government is running many schemes to make the common citizens of the country economically and socially strong. One of these schemes is Pradhan Mantri Suraksha Bima Yojana.
The government launched this insurance scheme in the year 2015. This accidental insurance is available at an annual premium of Rs 20 (PMSBY Premium). The government had started PMSBY to provide insurance benefits to the low income group. According to the government, the purpose of this scheme is to help people in difficult times.
Who can take advantage of the scheme?
In the Pradhan Mantri Suraksha Bima Yojana (PMSBY), a cover of one lakh rupees is available in case of accidental death of the insured or two permanent partial disabilities in case of complete disability.
Taking advantage of Pradhan Mantri Suraksha Bima Yojana (PMSBY) for just Rs 20 provides financial help to the family in times of crisis. People in the age group of 18 to 70 years can take advantage of this scheme.
Auto debit facility available
To avail PMSBY you must have a bank account. If you have more than one bank account, you can take this scheme from only one bank. The premium of Rs.20 will be deducted from your bank account through ‘Auto Debit’ facility on or before 1st June every year.
In case of death of the insurance holder in an accident, the family gets the help of two lakh rupees. At the same time, financial assistance of two lakh rupees is given to the insurance holder if he is completely disabled in the accident.
Enrollment period
If the account does not have sufficient balance for premium renewal, the policy will be cancelled. In such a situation, before May 31, all the account holders should make sure that their insurance policy has been renewed.
Insurance premium money is directly debited from the bank account. That’s why keep at least 20 rupees in your bank account. The enrollment period under the Pradhan Mantri Suraksha Bima Yojana (PMSBY) is from June 1 to May 31.
Crores of claims paid
According to the government data, till 26.04.2023, 2,302.26 crore claims have been paid through this scheme and more than 34.18 crore people have enrolled in PMSBY. Any citizen of the country can take advantage of this insurance scheme. It is the effort of the government to strengthen the common people financially through this insurance policy.
