PM Suraksha Bima Yojana: Know Details & Apply

PM Suraksha Bima Yojana: Government of India launched an accident insurance scheme, Pradhan Mantri Suraksha Bima Yojana for lower income category Citizens of India. It is also known as  PM Rs. 12 insurance policy. It is a government-sponsored accident Health Insurance program.

PMSBY provides coverage for accidental death, total and partial disability, as well as permanent disability. Citizen of India between 18 years and 70 years are eligible to apply for this scheme.

Eligibility criteria PMSBY

1. Indian citizens can enroll in this policy
2. The age of the applicant must be between 18 to 70 years.
3. The applicant must have a savings bank account.
4. Bank account Link with the Aadhaar card.
5. Premium of Rs.12 yearly.
6. The premium amount is auto debit from the insured’s bank account.

Documents Required for PMSBY

• Identity Proof: Aadhaar card, PAN card, Voter ID card, Passport, etc.
• Age Proof: Aadhaar card, PAN card, Birth certificate, Passport, etc.
• Savings account
• Nominee Details (ID Proof of Nominee)

Coverage Details

• Permanent total disability: coverage of Rs. 2 lakh
• Permanent partiality disability: coverage of Rs. 1 lakh
• policyholder’s death: coverage of Rs. 2 lakhs

Note: Suicide deaths, partial disability without irrecoverable loss and Non-permanent disabilities are not cover.

Steps for Enrolling PM Suraksha Bima Yojana (PMSBY)

1. Visit or Contact Citizen’s Bank or Health insurance companies.
2. Fill out the application form with complete information.
3. Submit the form
4. After submission make a premium payment of Rs. 12
5. You will receive a confirmation message or email with your policy details. Save this information for future reference.

Benefits of PMSBY

1. Renewable accidental death insurance with premium of Rs. 12 per year.
2. Up to Rs.2 lakh cover is payable to the nominee of the register citizen
3. Citizen can get the long term option or renew yealry
4. Citizen can able to opt-out or opt-in in this scheme easily

Eligible Banks List:

• Allahabad Bank
• Axis Bank
• Bank of India
• Bank of Maharashtra
• Bharatiya 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
• 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

Insurance companies:

• Bajaj Allianz
• Cholamandalam MS
• ICICI Lombard
• National Insurance
• New India Assurance
• Reliance General Insurance
• United India Insurance
• Universal Sompo