The Sum Assured is paid to the nominee or his family in case of accidental accident or accidental policyholder death in an accident.
Pradhan Mantri Suraksha Bima Yojana (PMSBY) is an Accident Insurance Scheme. The government started it in 2015. This is also known as PM 12 rupees insurance scheme. This scheme has been started keeping in mind the economically weaker families. Under the scheme, people have to pay a premium of only 12 rupees.
What is the benefit?
The sum assured is paid to the nominee or his family in case of accidental accident or accidental policyholder death in an accident. Two lakh rupees are paid to the family or nominee in the event of death of a policyholder in a road accident or other accident.
If the policy holder is partially disabled in the accident, then he is paid one lakh rupees. However, the policy holder gets only two lakh rupees for being permanently disabled in such an accident.
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Accident insurance cover is available without spending much more than other policies. Auto-debit facility is available in it. Therefore, there is no worry about regular payment. In this, you get the flexibility to continue or stop the policy as per your wish.
what are the features of the scheme?
This is a low cost policy. It can be purchased for just 12 rupees. In the event of the death of the policyholder, the money is paid to the nominee. Auto-debit of premium is available from a bank account. In this, there is a facility to renew a long-term term policy or policy annually. Exit or entry can be done easily anytime. This helps in saving tax.
What is not covered?
This cover is not available in case of suicide.
What is eligibility?
Age must be at least 18 years to join the scheme.
The maximum age limit under the scheme has been kept at 70 years.
-The person desirous of taking the policy must have an active savings bank account.
– The saving bank account of the applicant should be linked to his Aadhar card.
– If Aadhaar details are not linked to the bank account mentioned, a copy of the card should be sent along with the application.
– Premium payment is 12 rupees.
Which documents are required?
-Adhar card
identity card
-bank account passbook
-Mobile number
-ayu certificate
-earnings certificate
-pasport size photographs
How to apply?
To avail the scheme, one has to visit the branch of any registered bank. For this, you can download the required form from home. Here we are telling how?
First of all , visit the official website https://jansuraksha.gov.in/Forms-PMSBY.aspx .
On the home page, you will see the option of ‘Forms’. You have to click on this option. On clicking, the next page will open in front of you on the computer screen.
Then you have to click on the option of Prime Minister’s Security Insurance. After this you have to click on the option of application form.
On clicking on the application form, you will get its format in different languages. From the available options, you can do whatever you want to download the form.
After this, you have to fill all the necessary information like name, address, Aadhaar number, email ID etc. in the application form.
After filling all the information, all your documents have to be attached with the application. Then it has to be deposited in the bank.
