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Pradhan Mantri Suraksha Bima Yojana: An Accidental Insurance Scheme for All

Pradhan Mantri Suraksha Bima Yojana: An Accidental Insurance Scheme for All

scheme April 14, 2016 17 Views

Name of the scheme: Pradhan Mantri Suraksha Bima Yojana

Purpose: The main purpose of scheme is to provide every person or his/her family a cover of up to Rs. 2 lakh in case of any mishap, resulting into death or disability of the insured.

Eligibility: 

  • Savings bank account holders aged between 18 years and 70 years are eligible to apply for this scheme.
  • However, people aged more than 70 years will not be eligible to avail┬ábenefits under┬áthe scheme.

Benefits:

SL No Category Benefits
1 Death Rs. 2 lakh
2 Total/irrecoverable loss of both eyes/loss of use of both hands/feet. Rs. 2 lakh
3 Total or irrecoverable loss of sight of one eye loss of use of one hand or foot Rs. 1 lakh

Premium:

  • Rs. 12/- per annum per member.
  • The premium will be deducted from the account holderΓÇÕs savings bank account through ΓÇÌauto debitΓÇÕ facility in one instalment on or before 1st June of each annual coverage period under the scheme.
  • However, in cases where auto debit takes place after 1st June, the cover will commence from the first day of the month following the auto debit.

Period of Insurance:

An individual will remain insured for a period of one year from June 1, 2015 to May 31, 2016. Next year onwards, the risk cover period will remain to be June 1 to May 31 as well.

How to apply?

Form has been attached here 

For more information regarding the scheme, click here