Pradhan Mantri Suraksha Bima Yojana is being run by the government to provide life insurance to the weaker sections of the country. In this, life insurance of up to Rs 2 lakh is available at an expense of Rs 20 annually i.e. less than Rs 2 per month.
This scheme was launched by Prime Minister Narendra Modi in May 2016. There is no need for any medical examination to buy insurance. In such a situation, here we are telling you about it…
Assistance of Rs 2 lakh will be given in case of death in accident
In case of permanent total disability due to accident, such as loss of both eyes or both hands or both legs, Rs 2 lakh will be paid. In case of permanent partial disability due to accident, such as loss of use of one eye, or one hand or one leg, Rs 1 lakh will be given.
Applicant must have a bank account
- You can fill the form of Pradhan Mantri Suraksha Bima Yojana (PMSBY) online or by visiting the bank.
- You can take this insurance through any bank.
- Along with the public sector, private banks have also given complete information related to this on their websites.
- To avail the benefits of this scheme, the applicant must have a bank account. The money is deducted directly from the bank account.
Who can take advantage of it?
The age of the applicant must be at least 18 years. At the same time, only people up to a maximum of 70 years will be able to avail the benefit of this insurance. The period of insurance cover is one year, which will be from 1st June to 31st May.
Where can you avail the benefits of the scheme?
Insurance under this scheme can be done through public sector insurance companies. Apart from this, you can avail the benefit of Prime Minister Suraksha Bima Yojana from any branch of the bank. Wherever you have a bank account.
Auto debit facility is available
To avail the benefits of PMSBY, you must have a bank account. If you have more than one bank account, you can avail this scheme from only one bank. Every year on 31st May, a premium of Rs 20 will be deducted from your bank account through ‘Auto Debit’ facility.
If there is not sufficient balance in the account for policy renewal, the policy will be canceled. The policy can be reinstated upon receipt of premium. The enrollment period under PMSBY is from June 1 to May 31. In case of an accident, the money should be claimed within 30 days.
