Pradhan mantri suraksha bima yojana | Pradhan mantri suraksha bima yojana benefits
Coverage: All bank/post office account holders aged between 18-70 years can join participating banks/post offices. Aadhar will be the primary KYC for bank/post office accounts.
Subscription Mode/Period: Coverage is for one year from June 1 to May 31 and requires access/payment by automatic debit from the designated bank/post office account on May 31 each year. This can then be added to the payment of the full annual fee. New entrants to the respective categories from year to year, or current individuals who are not currently participating, may join in future years as the program continues.
National Toll Free Number - 1800-180-1111 / 1800-110-001
Premium
12/- per annum per member. The premium will be deducted from the account holder's bank account in one installment on or before June 1 of every annual payment period under the scheme through an automatic debit facility.
Coverage duration
The coverage will last for one year from June 1 to May 31. However, in case of automatic debit after June 1, the cover will start from premium automatic debit by the Bank.
Accident insurance
The member's
accident cover is canceled/restricted in any of the following events:
👉When you
turn 70 (the closest age to your birthday).
👉Bank
account closure or sufficient balance for insurance to take effect.
👉In case a
member is covered through more than one account and the insurance premium is
charged by the insurance company, the insurance coverage will be limited to
only one account and the premium will be payable.
Subscribe our WhatsApp channel Click to join
Pradhan Mantri suraksha bima yojana
benefits | Pradhan
mantri suraksha bima yojana | PMSBY
Cancellation of coverage
Accident
cover for members will be canceled in any of the following events and no
benefits will be paid:
👉When you
turn 70 (the closest age to your birthday).
👉Bank
account closure or sufficient balance for insurance to take effect.
👉In case a
member is covered through more than one account and the insurance company is
not paid by the insurance company, the insurance coverage will be limited to
one bank account only and the premium paid for the insurance (s) will be
deducted twice.
👉If the
insurance coverage period is terminated for technical reasons due to
insufficient balance or administrative problems, it can be returned in full
annual premium receipt as per the terms and conditions as may be prescribed. Risk
cover will be suspended and reinstatement of risk cover will be at the
discretion of the insurance company.
👉Participating banks will reduce the amount of premium in May every year, preferably in the month of car debit option, and transfer the amount due to the insurance company in the same month.
Pradhan mantri suraksha bima yojana benefits:
👉On Death -
Candidate will receive $10,000. 2 Lakh
👉Total and
irreparable loss of both eyes or loss of use of both arms or legs or loss of
one eye and loss of use of one arm or leg - Subscriber will receive $10,000. 2
Lakh
👉Total and irreparable loss of an eye or loss of use of an arm or leg - Subscriber will receive $10,000. 1 Lakh
Access:
Individual bank account holders of participating banks between 18 years old (completed) and 70 years old (close to renewal) who have consented to opt-in / activate auto-debit as per the above procedure will be eligible.
Subscribe our WhatsApp channel Click to join
Application process
👉One can
also open a PMSBY account online using Net bank banking services.
👉Applicants
can login internet banking account and search for PMSBY on the dashboard.
👉The
customer must fill in some basic details of the candidate.
👉The customer must approve the premium debit from the account and submit the form.
Required documents:
👉Proof of
Identity: either Aadhaar Card or Electoral Photo Identity Card (EPIC) or
MGNREGA Card or Driving License or PAN Card or Passport
👉Aadhaar
Active Bank Savings Account details.
Pradhan Mantri suraksha bima yojana
benefits | Pradhan
mantri suraksha bima yojana | PMSBY
FAQs: Pradhan Mantri Suraksha Bima
Yojana
•Who
can apply for insurance benefits in the event of the death of the owner of the
bank account who submitted the application?
In
the event of the death of the account owner who registered for the program, the
claim can be filed by the nominee/authorized person according to the
application or the legal heir/s in the event that the participant's account
owner did not make any nomination.
•What
is the method of payment of claim amount?
The
disability claim will be credited to bank account of the insured bank account
holder. Death claims will be credited to the bank account of the nominated /
legal heir(s).
•Will
the family get an insurance benefit if the account holder commits suicide?
No
•Is
it necessary to report accidents to the police and get an FIR to claim the
benefits under the insurance policy?
In
case of accidents like road, rail and similar traffic accidents, drowning,
death involving any crime etc., the accident should be reported to the police.
In case of incidents like snake bite, fall from tree etc., the cause should be
documented by immediate hospital record.
•If
the insured is missing and the death is not confirmed, will the legal heirs get
the benefits of the policy?
PMSBY
applies to documented deaths caused by an accident.
•Can
an individual join PMSBY from multiple bank accounts?
The
individual would be eligible to enter the Program through only one bank
account.
•What
is the minimum and maximum age limit to enter this system?
Individuals
between the ages of 18 (completed) and 70 (closer to birthday) are eligible for
this program.
•How
will the premium be paid?
The
premium will be debited from the account holder's bank account via
"automatic debit" in one installment, as agreed upon registration.
Members can also give a one-off mandate to auto-debit each year until the
scheme comes into force, subject to recalibration which may be deemed necessary
after a review of experience with the scheme.
•Can
individuals who leave the program rejoin?
Individuals
who withdraw from the scheme at any time may re-join the scheme in future years
by paying an annual premium on such terms and conditions as may be prescribed.
•Are
NRIs eligible for coverage under PMSBY?
Any
NRI holding bank account with a bank branch established in India is eligible to
PMSBY cover. However, if a claim arises, the claimed allowance will be paid to
the beneficiary/nominee in Indian currency only.
Subscribe our WhatsApp channel Click to join
👉Also Check: Ladli Laxmi yojana
👉Also check out: Pradhan Mantri Jeevan Jyoti Bima Yojana
