What is Pradhan Mantri Suraksha Bima Yojana ?

The scheme will be a one year cover Personal Accident Insurance Scheme, renewable from year to year, offering protection against death or disability due to accident.

Pradhan Mantri Suraksha Bima Yojana details are as follows.

• Eligibility: The savings bank account holders of the participating Bank between 18 years (completed) and 70 years (age nearer birthday) who give their consent to join / enable auto-debit, as per the modality, will be enrolled into the scheme.
• Policy period: The cover shall be for one year period starting from 1st June  to 31st May  for which option to join / pay by auto-debit from the designated savings bank account on the prescribed forms
• Premium: Rs. 12/- + service tax (per annum).
• Payment Mode: The premium will be directly auto-debited by the bank from the subscribers account. This is the only mode available.
• Risk Coverage: Total coverage (sum-insured) under the scheme is Rs. 2 Lakh.

Pradhan Mantri Suraksha Bima Yojana details are as follows.

Pradhan Mantri Suraksha Bima Yojana (PMSBY) is aimed at covering the population who are not covered in any insurance plans. This scheme is available at an highly affordable premium of just Rs.12/- per year. The Scheme will be available to people in the age group 18 to 70 years with a savings bank account who give their consent to join and enable auto-debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis.