The Pradhan Mantri Suraksha Bima Yojana (PMSBY) is an accidental death and disability insurance scheme launched by the Government of India. It was launched as part of the government's social security initiatives to provide affordable and accessible insurance coverage to people who may not have access to insurance otherwise. The scheme offers an insurance coverage of INR 2 lakhs in case of accidental death or permanent disability, and INR 1 lakh in case of permanent partial disability. The scheme is open to all savings bank account holders in the age group of 18 to 70 years, who give their consent to join the scheme and opt for the auto-debit facility. The premium for PMSBY is INR 12 per annum per enrolled person, and is automatically debited from the enrolled person's savings bank account.
To register for Pradhan Mantri Suraksha Bima Yojana (PMSBY), one can follow these steps:
1. Visit the official website of the Pension Fund Regulatory and Development Authority (PFRDA) - https://www.pfrda.org.in/
2. Click on the “PMSBY” option under “Subscriber Services”.
3. Read the scheme details and the terms and conditions carefully.
4. Click on the “Apply Now” option.
5. Fill in the necessary details such as name, date of birth, address, bank account number, etc.
6. Upload the required documents such as ID proof and bank passbook/cancelled cheque.
7. Review the details entered and submit the application.
8. After submitting the application, an enrolment number will be generated. The enrolled subscriber will receive the confirmation on their registered mobile number and email ID.
9. A premium amount of Rs. 12 per annum will be automatically deducted from the subscriber's bank account on a yearly basis.
One can also approach their bank for registering for the scheme, where the bank will assist with the enrolment process.
To log in to Pradhan Mantri Suraksha Bima Yojana (PMSBY) online, you need to follow these steps:
1. Visit the official website of the scheme: https://www.jansuraksha.gov.in/
2. Click on the “PMSBY” option on the homepage.
3. Click on the “Enroll/ Login” button.
4. If you already have an account, enter your registered mobile number and password, and click on “Login”.
5. If you are a new user, click on the “New Enrollment” button and follow the steps to create a new account.
Note: The process may vary slightly depending on the bank where you have enrolled for PMSBY. It is always recommended to check the official website or consult with the bank for the correct procedure.
The eligibility criteria for the Pradhan Mantri Suraksha Bima Yojana (PMSBY) are as follows:
1. Age: The scheme is open to all savings bank account holders in the age group of 18 to 70 years.
2. Nationality: Only Indian citizens are eligible to enroll in the scheme.
3. Bank account: The individual must have a savings bank account in a bank that is enrolled in the scheme.
4. Nomination: The savings bank account must have a nomination facility.
5. Premium: The premium for the scheme is Rs. 12 per annum and it is automatically debited from the savings bank account.
It is important to note that the terms and conditions of the scheme may vary from bank to bank and it is advisable to check with the bank for the specific eligibility criteria.
The process to claim benefits under the Pradhan Mantri Suraksha Bima Yojana (PMSBY) is as follows:
1. In case of accidental death or permanent total disability: The nominee or legal heir of the enrolled subscriber must inform the bank and file a claim within 90 days of the accident.
2. In case of partial permanent disability: The subscriber must inform the bank and file a claim within 90 days of the accident.
3. The bank will verify the claim and if found eligible, will make the payment to the nominee or legal heir, or to the subscriber, as the case may be.
4. The nominee or legal heir will have to submit the required documents, such as a death certificate, proof of identity, and bank account details for the payment to be processed.
It is important to note that the claim amount will be paid only if the subscriber has paid the premium for the year in which the accident took place. The claim process may vary slightly between different banks, so it is advisable to check with the bank for more specific details.
Pradhan Mantri Suraksha Bima Yojana (PMSBY) provides several benefits to the insured individuals:
1. Accidental Death and Disability Cover: In case of accidental death, the nominee of the insured person will receive the full sum insured. In case of partial or permanent disability, a certain percentage of the sum insured will be paid to the insured person.
2. Renewable Coverage: PMSBY is an annually renewable scheme, which means that the coverage can be renewed every year.
3. Affordable Premium: The premium for PMSBY is very affordable, and can be easily paid through the subscriber's bank account.
4. Wide Coverage: PMSBY covers death or disability due to accidental events such as road accidents, railway accidents, air accidents, and more.
5. No Medical Examination: No medical examination is required to enroll for PMSBY, making it easier for individuals to avail its benefits.
6. Tax Benefits: The premium paid for PMSBY is eligible for tax benefits under Section 80C of the Income Tax Act.
Overall, PMSBY provides financial protection to individuals in case of accidental death or disability, making it an important social security scheme.
1. What is PMSBY?
PMSBY is a government-sponsored insurance scheme aimed at providing affordable personal accidental insurance cover to people in India.
2. Who can enroll for PMSBY?
Any individual between the age group of 18 to 70 years with a savings bank account can enroll for PMSBY.
3. What is the premium for PMSBY?
The premium for PMSBY is Rs.12 per annum per subscriber, which is auto-debited from the savings bank account.
4. What is the coverage under PMSBY?
PMSBY provides a personal accidental death and permanent total disability cover of Rs. 2 lakh.
5. Is PMSBY available to all savings account holders?
PMSBY is available to all savings account holders who give their consent to join/enable the scheme.
6. What is the renewal process of PMSBY?
PMSBY is automatically renewed every year unless the policyholder requests to discontinue the scheme.
7. What is the claim settlement process for PMSBY?
The claim settlement process for PMSBY involves submission of the claim form, supporting documents, and a police report in case of accidental death. The insurance company will investigate the claim and decide on the settlement.
8. Is PMSBY available only through banks?
PMSBY is available only through banks, including public sector, private sector, and regional rural banks.
9. What happens if the bank account is closed?
If the bank account is closed, the policyholder will not be eligible for the PMSBY cover. The policyholder must open a new savings account and enroll for PMSBY again.