PM Suraksha Bima Yojana (PMSBY)
Why this scheme matters now
PM Suraksha Bima Yojana (PMSBY) is a Insurance initiative targeting residents across India. Pradhan Mantri Suraksha Bima Yojana (PMSBY) is an accidental insurance scheme that offers protection against death or disability caused due to an accident Applications are routed through the official portal, so save the link for reference.
Available across states, yet district offices may still ask for local attestations.
📌 About This Scheme
Pradhan Mantri Suraksha Bima Yojana (PMSBY) is an accidental insurance scheme that offers protection against death or disability caused due to an accident. The scheme is available to individuals in the age group of 18 to 70 years who possess a savings bank account. It offers a very high value-for-money proposition with an annual premium of just ₹20. Under this scheme, the risk coverage available is ₹2 lakh for accidental death and full permanent disability (such as loss of both eyes or loss of use of both hands/feet). For partial permanent disability (loss of one eye or use of one hand/foot), the coverage is ₹1 lakh. The insurance remains active as long as the premium is paid through the auto-debit facility and the account holder has not exceeded the age of 70. PMSBY is particularly beneficial for workers in hazardous occupations, laborers, and those in the informal sector who are more prone to workplace accidents and lack formal insurance coverage. The scheme is delivered through Public Sector General Insurance Companies or any other General Insurance Company in tie-up with banks. It aims to create a 'protected' society where an accidental tragedy does not lead to financial ruin for the survivor or their dependents. In case of an accident, the claim process is streamlined through the bank, where the nominee or the insured submits an FIR and medical reports to initiate the benefit transfer. This scheme, along with PMJJBY and APY, forms the backbone of India's social security system, aiming to provide a comprehensive safety net for the masses at a negligible cost, thus fostering a culture of insurance and risk management among all citizens.
📄 Required Documents
- ✓Aadhaar Card
- ✓Savings Bank Account
- ✓Nominee Details
- ✓Mobile Number
🛠️ How to Apply
Snapshot insights
Timeline snapshot
Launched on 04 Sept 2015
Documents to gather
Prepare 4 docs such as Aadhaar Card, Savings Bank Account, Nominee Details, ….
Official source
Verify the latest notification at https://jansuraksha.gov.in.
- ▸Specifies 4 documents, making it easier to collect proof ahead of time.
- ▸Direct application link is recorded so you can jump to the source notice quickly.
- ▸Rolled out from 04 Sept 2015, so the timeline is clear.
- ▸Pan-India coverage ensures the scheme is available widely.
- ▸Closing date is not listed yet, so keep following the official source for updates.