Pradhan Mantri Suraksha Bima Yojana 2023 Application Form | Pradhan Mantri Suraksha Bima Yojana SBI Apply Online | PMSBY Insurance Scheme | Pradhan Mantri Jeevan Jyoti Bima Yojana Benefits | PMSBY Certificate Download
Pradhan Mantri Suraksha Bima Yojana is an accidental insurance scheme launched by prime minister of India on 9 May 2015 which offers a one year accidental insurance cover upto Rs. 2 lakh. Along with the launch of this scheme, two another welfare schemes were also launched named as Pradhan Mantri Jeevan Jyoti Bima Yojana and Atal Pension Yojana.
Till May 2015, only 20% of Indian populations has any king of insurance and the scheme is launched to increase this percentage. The policy is offering accidental death and disability cover for death or disability on account of an accident. Under the scheme, the PM Suraksha Bima holder will get an accidental cover upto Rs. 2 lakh.
Pradhan Mantri Suraksha Bima Yojana (PMSBY) Application Form
The Pradhan Mantri Suraksha Bima Yojana is offered through Public Sector General Insurance Companies (PSGICs) and other General Insurance companies. The benefit of the scheme can be taken by all saving bank account holder having age of 18 to 70 years. If anyone have more than one saving accounts then he/she can avail the benefits of the scheme through his/her single account.
Application Form of Pradhan Mantri Suraksha Bima Yojana can be downloaded from below link in PDF format
Enrolment Period for PMSBY
The insurance cover under Pradhan Mantri Suraksha Bima Yojana shall be for one year period. The policy commencement date is 1st June and the premium for initial cover will be upto 31 May. Thereafter, the cover can be renewed on the 1st of June every year by auto-debit the premium to your saving bank account.
In this scheme, applicants may give an indefinite/longer option for enrolment/auto-debit, subject to continuation of the scheme with terms as may be revised on the basis of past experience. If any applicants exit the scheme the policy offering the option to re-join the scheme. New entrants into the eligible category from year to year or currently eligible individuals who did not join earlier shall be able to join in future years while the scheme is continuing.
Premium for Pradhan Manti Suraksha Bima Yojana
Insurance Premium to Insurance Company: Rs.10/-per annum per member
Reimbursement of Expenses to BC/Micro/Corporate/Agent: Rs.1/-per annum per member
Reimbursement of Administrative expenses to participating Bank: Rs.1/-per annum per member
The annual premium for Pradhan Mantri Suraksha Bima Yojana is Rs. 12/- per annum per member. If any applicant continue with PMSBY then the premium of Rs. 12/- would be deducted from the saving account of policy holder through auto debit facility through one installment on or before 1st June of each annual coverage period.
The premium would be reviewed based on annual claims experience. However barring unforeseen adverse outcomes of extreme nature, efforts would be made to ensure that there is no upward revision of premium in the first three years.
Eligibility Criteria for PMSBY
Any person who wants to avail the Pradhan Mantri Suraksha Bima Yojana should run over the eligibility criteria of the scheme mentioned below:
- The applicant should completed the minimum age of 18 years.
- The age of applicant should be in between 18 years to 70 years.
- The applicants must have saving bank account with sufficient balance to be eligible for the scheme.
- The applicants will have to give their consent to join the scheme and enable the auto-debit option to enroll into the scheme.
- The applicants who have more than one saving account, can only avail the Pradhan Mantri Suraksha Bima Yojana through only his/her one account.
Termination of Assurance
The insurer can terminate the assurance of life insurance of member under Pradhan Mantri Jeevan Jyoti Bima Yojana on any following events and not benefits will be payable under these conditions:
- On attaining age 70 years (age nearest birth day).
- Closure of account with the Bank or insufficiency of balance to keep the insurance in force.
- In case a member is covered through more than one account and premium is received by the Insurance Company inadvertently, insurance cover will be restricted to one only and the premium shall be liable to be forfeited.
- If the insurance cover is ceased due to any technical reasons such as insufficient balance on due date or due to any administrative issues, the same can be reinstated on receipt of full annual premium, subject to conditions that may be laid down. During this period, the risk cover will be suspended and reinstatement of risk cover will be at the sole discretion of Insurance Company.
- Participating banks will deduct the premium amount in the same month when the auto debit option is given, preferably in May of every year, and remit the amount due to the Insurance Company in that month itself.
Insurance Claim: The Insurer shall pay the Claim amount to the policy holder or to the nominee of the policy.
Claim amount is payable to policy holder under the rules & insurance terms.
|Table of Benefits||Sum Insured|
|Death||Rs. 2 Lakh|
|Total and irrecoverable loss of both eyes or loss of use of both hands or feet or loss of sight of one eye and loss of use of hand or foot||Rs. 2 Lakh|
|Total and irrecoverable loss of sight of one eye or loss of use of one hand or foot||Rs. 1 Lakh|
The Pradhan Mantri Suraksha Bima Yojana is providing an accidental cover of Rs. 2 lakh for accidental death or permanent total disability and Rs. 1 lakh for permanent partial disability.
The claim form can be obtained by using the link below:
Download Pradhan Mantri Jan Suraksha Bima Yojana Application Form
Download PMSBY Claim Form
Toll-free Number : 1800 110 001 and 1800 180 1111
Also Read : Janani Suraksha Yojana/