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pradhan mantri suraksha bima yojana (pMSBY) Form,Benefits

Pradhan Mantri Suraksha Bima Yojana: The Pradhan Mantri Suraksha Bima Yojana is the pmsby full form which is an accidental insurance scheme that has been launched and supported by the Government of India. The insurance scheme i.e., pradhan mantri bima yojana aimed at providing all the citizens with access to accidental coverage in a small premium amount, making it affordable to everyone. The Suraksha Bima Yojana provides the policyholder with accidental insurance amounting to two lakh rupees for a premium of Rs. 12.

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This pm suraksha bima yojana scheme has been highly instrumental in providing lower-income families with a minimum insurance cover in the event of the accidental death of the policyholder. This insurance cover is part of the three social security schemes that were announced by the government in 2015. The other two schemes launched were the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Atal Pension Yojana (APY).

Pradhan Mantri Suraksha Bima Yojana (PMSBY) Details

The PM Suraksha Bima Yojana was first introduced by the former Finance Minister of India Late Arun Jaitley during his budget speech made in February 2015. However, it was formally launched by the Indian Prime Minister Narendra Modi on 8th May 2015. This pmsby accidental coverage is being provided to Indian resident citizens as well as non-resident Indians who are aged between 18 years to 70 years and having bank accounts. The premium is collected and pmsby policy is subscribed through the bank accounts of these citizens. One also has the facility to set an auto-debit of the premium from their bank accounts. This deducts INR 12 from their bank accounts every year in the month of June.  

pradhan mantri suraksha bima yojana benefits

The PMSBY policy provides accidental and disability cover to the policyholder provided that the policy is active and the due premium amount has been paid. The coverage of this policy is from 1st June of every year until 31st May of the next calendar year. In the case of accidental death or in the case where the policyholder becomes fully disabled, then the nominee receives an amount of two lakh rupees under the pmsby insurance scheme. If there is partial disability then the nominee receives the amount of one lakh rupees under the policy cover. 

According to this pmsby yojana, the term full disability is defined as the loss of both eyes and limbs which include either hand or feet. Whereas, partial disability is defined as the loss of the other one eye, hand, or leg. However, it must be noted that this policy does not cover death due to reasons such as drug abuse, alcohol consumption, suicide, and similar other reasons. It must be noted that the pmsby scheme is not a mediclaim policy, which means that there is no provision whereby any amount is paid by the insurance company for reimbursement of hospital expenses after the accident. 

PMSBY Scheme – Overview

Article CategoryGovernment Scheme
Scheme NamePradhan Mantri Suraksha Bima Yojana (PMSBY)
Scheme CategoryCentral Government Scheme
What Is PMSBYHealth Insurance Scheme to all the citizens
Eligibility CriteriaAll Indian Citizens from 18 to 70 Years
Applying ProcessOffline through respective banks
Aim Of The SchemeHealth Insurance Scheme to all the Indian citizens
Benefits of PMSBY SchemeHealth Insurance scheme up to 2L
Official Websitejansuraksha.gov.in

Eligibility of PMSBY Scheme

  1. The PMSBY policy is available for subscription to all Indian citizens residing in India.
  2. It can also be taken by non-resident Indians, however, these policyholders will be paid in Indian currency only; in the case of any claim made against this policy.
  3. Further, the Indian government has also laid down certain age restrictions for residents who can subscribe to this policy.
  4. Citizens who are aged between 18 years and 70 years only are eligible to join the PMSBY insurance scheme. Those who fall outside this is age bracket cannot avail of the policy.
  5. Subscription to the pm suraksha bima yojana can be made only through the citizen’s bank accounts, hence having a bank account is mandatory.
  6. The policyholder can have an account in any bank in India.
  7. In the case where the policyholder has multiple accounts, they can subscribe to the policy only through one bank account.
  8. Those policyholders who are having joint accounts can apply for all members of the account under the Suraksha bima yojana scheme.

PMSBY Scheme Latest Updates

Applicants can apply for the PMSBY Scheme by downloading the application forms and also can claim by downloading the claim forms which is given below.

pradhan mantri suraksha bima yojana online apply

The Suraksha Bima Yojana is offered and administered by the public sector general insurance companies in India in collaboration with various banks. In order to subscribe to the policy, the policyholder should connect with the pradhan mantri suraksha bima yojana bank of india online or pradhan mantri suraksha bima yojana sbi or all the banks and he can fill in the form and submit it to the bank itself. Some banks have also started SMS driven subscription process and internet banking initiated policy subscription and auto-debit of premium.  Alternatively, any interested person can also download the pm suraksha bima yojana form from the official website of the Central government. They can then fill in the pradhan mantri suraksha bima yojana form and submit it to their respective banker.

Making a claim under PMSBY

In order to file a claim under the Suraksha Bima Yojana, the nominee must adhere to the following guidelines:

  1. In the case death of policyholder is caused by an accident such as rail, road or vehicle accident, drowning, or on account of any criminal activity; the nominee must report the accident to the police. Then they must obtain a medical certificate ascertaining the cause of death of the policyholder. 
  2. In the case when death has occurred due to incidents such as snake bite, falling from a tree, or other such accidental causes; then also a medical certificate has to be prepared which mentions and supports the cause of death.
  3. This must be followed by downloading the PMSBY form from the official website of the PMSBY yojana or can be obtained from their bank.
  4. The nominee or the legal heir of the policyholder must fill in the form and submit the relevant documents required to the bank.
  5. After the claim is processed by the insurance company, the claim amount will be credited to the bank account of the insured person. 

pradhan mantri suraksha bima yojana certificate download

PM Suraksha bima yojana certificate can be downloaded from through the link given below. The policyholder should have to enter the required or necessary details such as the policy year, name of the bank, and other criteria like certificate number/account number/PAN/Aadhaar number/Customer id to download the Pradhan Mantri Suraksha Bima Yojana Certificate

Reference Links for PMSBY

  1. financialservices.gov.in/insurance-divisions/Government-Sponsored-Socially-Oriented-Insurance-Schemes/Pradhan-Mantri-Suraksha-Bima-Yojana(PMSBY)
  2. nationalinsurance.nic.co.in/en/about-us/pradhan-mantri-suraksha-bima-yojana

PMJAY Scheme: FAQ’s

What is the benefit of the PMSBY Scheme?

PMSBY is an accidental insurance policy that covers accidental death and disability. INR 2 lakh is paid for accidental death, total permanent disability, and INR 1 lakh on permanent partial disability.

How do I file a claim for PMSBY?

Download the PMSBY Claim Form from this article which must be filled and submitted to the Bank. Within 30 days of the accident, a claim can be received.

How can I check my PMBSY status?

Logon to the respective bank’s net banking, then click on the Insurance tab. You can visible the list of schemes you opt for. The applicants can check the status by clicking on that.

How to enroll for the PMSBY?

Download the application/enrollment form from the article, fill the form, and give the form to the respective bank.

How to get the PMSBY online?

Go to the Net banking of the respective bank and login to the net banking. On the Insurance tab, there will be PMSBY. Go to that menu and apply for the PMSBY.

What is the full form of PMSBY?

Pradhan Mantri Suraksha Bima Yojana (PMSBY).

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