Pradhan Mantri Suraksha Bima Yojana benefits & Eligibility – PMSBY SCHEME

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Pradhan Mantri Suraksha Bima Yojana

Pradhan Mantri Suraksha Bima Yojana

Pradhan Mantri Suraksha bima yojana is a welfare scheme for the people, this scheme was launched in May 2015. This scheme is a health insurance policy that is available for the citizens of the age group between 18 to 70 years

This scheme covers risk coverage up to two Lac rupees on accidental death and one Lac rupees on partial disability. This scheme is only available for ₹12 per year and the amount will be automatically deducted from your bank account and the total coverage time of this scheme is over near. You can also renew this scheme annually.

Pradhan Mantri Suraksha Bima Yojana Benefits

Below given points tell you about the benefits and features of the Pradhan Mantri Suraksha bima yojana scheme-

Features-

  • The amount to purchase this scheme is only 12 rupees.
  • The beneficiaries will receive the death amount.
  • Health insurance premium amount will be automatically deducted from your bank account.
  • There are two types of plans available in this scheme one is an annually renewable plan and a long-term policy.
  • Re entry and exit are straightforward to understand.
  • There are several tax benefits available in this scheme.

Benefits-

  • You can easily get accidental insurance without spending a ton of money.
  • The dependents will receive financial aid support if the insured person dies.
  • The insurer will not be able to miss any premium due dates because of the auto deduction option.
  • Secure processing is available in this scheme.
  • Continuous coverage is available in this scheme.
  • The insurer can easily continue or discontinue the scheme according to their wish.
  • Under the older income tax regime they can claim the premium paid amount under section 80C of tax deduction, up to one Lac rupees the amount will be nontaxable.

Coverage amount of Pradhan Mantri Suraksha Bima Yojana scheme

Below given table tells you about the coverage amount of the PMSBY

Partial disability2 lakh
death of the insurer1 lakh
Total disability2 lakh

Things that are not covered in this scheme

Below given points tell you about the things which are been not covered in the Pradhan Mantri Suraksha bima yojana scheme-

  • Death due to suicide will be not covered in Pradhan Mantri Suraksha bima yojana.
  • Temporary Disabilities will not be covered in Pradhan Mantri Suraksha bima yojana.

Pradhan Mantri Suraksha Bima Yojana Eligibility criteria

Pradhan Mantri Suraksha Bima Yojana

Below given is the eligibility criteria to apply for the PMSBY

  • The minimum age requirement is 18 years and the maximum age requirement is 70 years and the person should have a saving account.
  • A person should have an Aadhar card which should be furnished by KYC documents.
  • IfIs the person saving account is not linked with their Aadhar card, the person should have to submit the dark card in the application form of Pradhan Mantri Suraksha bima yojana.
  • The person should have only a single bank account.
  • If the person is not a citizen of India the amount will be paid to the nominee.

Document required for Pradhan Mantri Suraksha bima yojana

Below given is the documentation required to apply for the Pradhan Mantri Suraksha bima yojana-

  • The person should have to submit the application form of Pradhan Mantri Suraksha bima yojana.
  • The person should have its Aadhaar card, mobile number, and the details of the nominee.

Procedure to apply for PMSBY SCHEME

You can visit any local bank account to apply for PMSBY. Make sure that you have your bank account because the amount will be automatically deducted from your bank account only, you can also download the application form online from their official website.

Below given are some of the steps through which you can easily apply for the Pradhan Mantri Suraksha bima yojana-

SMS facility-

  • Receiving SMS activation in mobile number.
  • Type “PMSBY Y” to reply.
  • After that you will receive the acknowledgment received.
  • Information will be now verified by the bank.

Apply by Internet bank facility-

  • You have to login into the Internet bank account.
  • Select the insurance option.
  • To pay for the premiums you have to choose your bank account.
  • Fill up on required information and click on the confirm motion to complete the process.
  • Now you have to simply download the receipt and make sure to note down the reference number in case you forgot it.

PMSBY SCHEME premimum

The premium Pradhan Mantri Suraksha bima yojana is available for just 12 rupees per annum. The amount will be automatically deducted from my bank account.

Banks that are providing Pradhan Mantri Suraksha bima yojana

Below given table tell you about the banks which are providing PMSBY

State Bank of IndiaKotak Mahindra BankAllahabad bank
Federal bankAxis BankAndra bank
State bank of MysoreDena bankBank of baroda
UCO bankOriental bank of commercePunjab national bank
HDFC bankIDBI bankIndian bank
State bank of PatialaLakshmi bankSyndicate bank
Bank of MaharastraRatnakar bankUnion bank
Bank of IndiaBhartiya mahila bankPunjab and sind bank
Canara bankUnited bank of IndiaYes bank
State bank of Bikaner and JaipurState bank of HyderabadJammu and Kashmir bank
Indian overseas bankSouth Indian bankVijaya bank
Induslnd bankThe central bank of IndiaCity union bank

Term & Conditions for PMSBY SCHEME

Below given are the conditions of termination of PMSBY-

  • Due to any technical issues if your insurance cover is terminated you have to renew your premium.
  • If you have reached 70 years of age.
  • If your bank doesn’t meet the minimum requirement to pay the premium.
  • If you have more than one account.

Claiming process of PMSBY SCHEME

Below given is the process of claiming PMSBY

  • Banks should be immediately informed about the information regarding the insurer.
  • The bank should be immediately informed about the accident within 30 days and all the required certificates should be submitted to the bank if the person has died in an accident the nominee should have to submit their post-mortem report and their death certificate.
  • After that the forms will go to the verification.
  • After the process of verification, the amount will be transferred into the insured bank account within 30 days.
  • If the account of the nominee is not connected the amount will be transferred to an illegal heir.

How to Check Application Status of PMSBY SCHEME

Below given is the process through which you can easily check your application status for PMSBY SCHEME

  • Visit the official website of your bank account in any of the search engines or web browsers.
  • In the Internet banking portal, log in with your required details.
  • Open up the appropriate section of Pradhan Mantri Suraksha bima yojana.
  • Now fill up your account number and your application number for Pradhan Mantri Suraksha bima yojana.
  • Now click on the submit option and the application status will be displayed on your screen.

Conclusion

In today’s World Health insurance is one of the most important assets and keeping that in mind the government has launched a scheme which is known as Pradhan Mantri Suraksha bima yojana. In this scheme you will get many benefits regarding health insurance, this scheme is available for only ₹12 per annum which is equivalent to ₹1.00 per month. You can easily apply for this scheme by just visiting your local bank and getting the form or you can apply online by visiting their official website. In this article, we have covered every point regarding Pradhan Mantri Suraksha bima yojana.

Frequently asked questions

When was the Pradhan Mantri Suraksha bima yojana scheme launched?

Pradhan Mantri Suraksha bima yojana was launched in May 2015 for the welfare of the citizens of India.

What is Pradhan Mantri Suraksha bima yojana?

Pradhan Mantri Suraksha bima yojana scheme is a health insurance policy that is available for the citizens of the age group between 18 to 70 years, this scheme covers risk coverage up to two Lac rupees on accidental death and one Lac rupees on partial disability.

What is the process to apply for the Pradhan Mantri Suraksha bima yojana?

You can visit any local bank account to apply for Pradhan Mantri Suraksha bima yojana. Make sure that you have your bank account because the amount will be automatically deducted from your bank account only.

What is the amount required to apply for the premium Pradhan Mantri Suraksha bima yojana?

The premium Pradhan Mantri Suraksha bima yojana is available for just 12 rupees per annum. The amount will be automatically deducted from my bank account.