Pradhan Mantri Suraksha Bima Yojana (PMSBY) | jansuraksha.gov.in

When you live in a country like India with so much population, it is very common that accidents on roads happen, sometimes big, sometimes small, but the damage is done anyway. No matter how much protection you take, it will still happen if not by your fault. It will happen at the fault of the other person. And the losses are not just to the vehicle you are travelling in, but also it can cause injuries to the people travelling in that vehicle.

Sometimes the damage is to such an extent that it can cause fatalities too. And in these cases, the monetary expenses are also so much. If you go by the reports, in the last five years, there have been 2,363,031 accidents, and in those accidents, approximately 747,361 people died. And these numbers are rising each day where the death toll is rising every day. Well, necessary precautions are being enforced for safe travel; however, even after taking all the necessary measures, accidents still happen. To make this better, the Government of India has come with an initiative where there can be some compensation in case unforeseen accidents happen. When a person meets with an accident, and if he has applied for the scheme that has been sanctioned from the government, in that case, he will be given compensation from the Insurance company by paying just Rs 12 as a premium per annum. This scheme is called the Pradhan Mantri Suraksha Bima Yojana PMSBY.

Pradhan Mantri Suraksha Bima Yojana PMSBY

Highlights

  • Launched on 9th May 2015
  • Announced by Prime Minister Narendra Modi
  • Originally introduced by Finance Minister Late Arun Jaitley
  • Covers insurance in case of accidents
  • Applicable for people between 18 to 70 years of age.
  • Insured should have an existing bank account.
  • Insured only has to pay a premium of Rs 12 per annum.
  • Insurance will cover Unexpected Death, Full disability, and partial disability.
  • Insured or the Nominee can get up to Rs 2 lakh as compensation.
  • Claims have been settled for more than Rs 286.28 crore.
  • 79,485 families have received a claim settlement of Rs 1589.70 crore.
  • The policy will be active from 1st June to 31st May every year.

Yojana List, Latest News, Updates, and Scheme

Yojana List

For the well-being of the citizen of India, the government has rolled out many Yojana that can provide various benefits to the people. Below we have mentioned some other Yojanas sanctioned by the government apart from Pradhan Mantri Suraksha Bima Yojana PMSBY. Below is the list of Yojana that has been rolled out.

  • Pradhan Mantri Vaya Vandana Yojana
  • Pradhan Mantri Garib Kalyan Yojana
  • Ayushman Bharat PMJAY
  • Pradhan Mantri Mudra Yojana
  • Pradhan Mantri Jan Dhan Yojana (PMJDY)
  • Pradhan Manrti Jan Dhan Yojana PMJDY
  • Atal Pension Yojana (APY)
  • Pradhan Mantri Mudra Yojana
  • Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
  • Pradhan Mantri Suraksha Bima Yojana PMSBY

Latest News and Updates

India Banks will provide up to Rs. 4 lakh as insurance cover to almost 9,047 business correspondents.

Two major Yojana that went under review is Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY). Government set to merge the two biggest yojanas: Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana, with other government insurances.

Insurance schemes like PMSBY were rolled out to ensure that the weaker section and other sections alike of the country also get covered under the social security net through this scheme. The government extended the deadline to enrollment for the PMSBY scheme.

10.17 crore people enrolled for the PMSBY. All rights reserved by the government of India.

Scheme

The scheme is called the Prime Minister Suraksha Bima Yojana, and it aims at a more secure country. It benefits people who have lost someone in an unfortunate accident or some who has become disabled. All you need for enrollment for this scheme is to apply and pay the Premium annually, auto-debited from your bank account. This scheme is extremely beneficial for all the people who travel by one means or other and can claim for the loss if they meet with an accident without their fault in it.

Features and benefits of the scheme

This PMSBY scheme comes with many features that can be very fruitful for all people in the country, irrespective of caste, age, and religion.

The features and benefits of the Yojana are as follows: The Yojana applies only to people from the age of 18 t=years to the age of 70 years. It will provide an accident insurance cover of up to 2 lakh rupees depending upon the severity of the accident and the damage to the insured person. This Insurance will be valid for one year from 1st June to 31st May.

One can avail of the benefits of this Yojana by just paying a premium of Rs 12 per annum. The Premium will be auto-debited from the insured’s account with any bank. Renewal is also super easy. Three criteria for which compensation will be provided are Death, full disability, and partial disability. In case of death or full disability, like when the insured loses both eyes or both hands or legs, then the Nominee of the insurance policy will get Rs. 2 lakh. In case of partial disability, like when the insured has lost one eye or one of the limbs, in that case, they can get the claim of up to Rs 1 lakh.

Participating Banks and Insurance companies

The list of participating banks and insurance companies is as follows:

  • Axis Bank
  • Ahhahbad Bank
  • Bank of India
  • Bank of Maharashtra
  • Bhartiya Mahila Bank
  • Canara Bank
  • Central Bank
  • Corporation Bank
  • Dena Bank
  • Federal Bank
  • HDFC Bank
  • ICICI bank
  • IDBI Bank
  • IndusInd Bank
  • Kerala Gramin Bank
  • Kotak Bank
  • Oriental Bank of Commerce
  • Punjab and Sind Bank
  • Punjab National Bank
  • South Indian Bank
  • State Bank of Hyderabad
  • State Bank of India
  • State Bank of Travancore
  • Syndicate bank
  • UCO Bank
  • Union Bank of India
  • United Bank of India
  • Vijaya Bank

And other Insurance companies like ICICI Lombard, India Insurance, New India Assurance co ltd.

Registration Process

Documents Required

If you wish to enrol in this Yojana, then you will have to furnish the below-mentioned documents:

  • Duly filled Pradhan Mantri Suraksha Bima Yojana Form or the financial inclusion form.
  • Aadhar Card

We will also help you with an online and offline application so that you can avail the benefits easily.

Online Application

There is no facility to submit your form on the web. However, you can download the forms from the website and follow the below-mentioned steps:

  • Visit the official website- jansuraksha.gov.in
  • Once you reach the website, on the panel, you will find multiple options; click on Forms
  • Once the forms section opens, you will see three Yojana listed
  • Click on the Pradhan Mantri Suraksha Bima Yojana section
  • Now you will see two options – The application Form and the Claim form.
  • You can now download the Application form from here.
  • Now fill the application form and attach the required documents and submit them to the participating Banks.

You can also go to the preferred bank, Login to the Netbanking and select insurance and follow the steps mentioned on the page.

Offline Application

If you do not wish to do the online procedure, you can opt for the offline Application.

  • Visit Your Nearest participating Bank
  • Ask for the Application form or the Financial Inclusion form
  • Fill it and attach necessary documents
  • Submit all the documents.

Eligibility and Ineligibility Criteria

If you want to avail of this Yojana, you need to be eligible as per the criteria mentioned by the Government of Inda. We have listed down the eligibility criteria for you below:

  • A person should be between the ages of 18 to 70 years.
  • A person should have an active savings bank account.
  • Person account should be linked with their Aadhar Card
  • Should pay the annual premium of Rs 12.

Ineligibility Criteria

Below are the conditions where a person will become Ineligible

  • Applicant below the age of 18.
  • Applicants above the age of 70 years
  • Applicant not having a savings bank account
  • Applicant not having Aadhar Card
  • Applicant not okay with the auto-debit of Premium
  • The applicant is not okay with a period of Insurance, i.e., from 1st June to 31st May every.

Claim Proces for PMSBY

  • The insured should inform the bank or the insurance company immediately on account of an accident.
  • The Nominee needs to call and inform the Bank or Insurance company of the insured’s death.
  • Insured/Nominee needs to get the claim form from the official website or the bank through which you have activated the scheme.
  • Fill the complete form.
  • Attest supporting documents like FIR report, Post mortem certificate, Death certificate, or disability certificate issued by a civil surgeon.
  • Submit all the documents
  • The claim will be reviewed and processed with 30 days of submission.
  • After 30 days, the money will be given to the Nominee or legal heir in the absence of the Nominee.

Objectives of PMSBY

The main objective behind rolling out the Yojana is to enable all the countrymen to have social security. And with this accident insurance in place, the beneficiary will benefit from the accident and the insured’s death. The Premium is also extremely less as compared to other insurance policies.

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Helpline Number

In case of any queries related to application, claims, and settlement, you can call the toll-free number 1800 180 1111 or 1800 110 001.