The Government of India has announced PRADHAN MANTRI SURAKSHA BIMA YOJANA-PMSBY SCHEME.The complete full detals of PRADHAN MANTRI SURAKSHA BIMA YOJANA(PMSBY) SCHEME are as follows
PRADHAN MANTRI SURAKSHA BIMA YOJANA(PMSBY) SCHEME DETAILS
- The scheme will be a one year cover, renewable from year to year, Accident Insurance Scheme offering accidental death and disability cover for death or disability on account of an accident.
- The scheme would be offered / administered through Public Sector General Insurance Companies (PSGICs) and other General Insurance companies willing to offer the product on similar terms with necessary approvals and tie up with Banks for this purpose.
- Participating banks will be free to engage any such insurance company for implementing the scheme for their subscribers.
Who are eligible for this PMSBY Scheme:
- The savings bank account holders of the participating banks aged between 18 years(completed) and 70 years (age nearer birthday) who give their consent to join/enable auto-debit, as per the modality in the official website, will be enrolled into the scheme.
Premium particulars of PRADHAN MANTRI SURAKSHA BIMA YOJANA-PMSBY SCHEME
- Rs.12/-per annum per member.
- The premium will be deducted from the account holder’s savings bank account through ‘auto debit’ facility in one installment on or before 1st,June of each annual coverage period under the scheme.
- However, in cases where auto debit takes place after 1st June, the cover shall commence from the first day of the month following the auto debit.
- 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.
What we get with this PMSBY SCHEME
| Table of Benefits | Sum Insured | |
| a. | Death | Rs. 2 Lakh |
| b. | 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 |
| c. | Total and irrecoverable loss of sight of one eye or loss of use of one hand or foot |
Rs. 1 Lakh |