The Central Government had announced the Pradhan Mantri Suraksha Bima Yojana (PMSBY) in 2015. The objective of this scheme is to provide protection insurance to the vast population of India who do not have life insurance. Under this insurance scheme, the beneficiary gets the cover of accident insurance. Its premium has increased from Rs 12 per annum to Rs 20.
What does PMSBY mean?
Under the Pradhan Mantri Suraksha Bima Yojana (PMSBY), accident insurance of Rs 2 lakh is available in the event of death of the insured in an accident or completely disabled. One lakh rupees cover is available in case of permanent partial disability.
What is the premium of Pradhan Mantri Suraksha Bima Yojana?
At the same time, the premium of Pradhan Mantri Suraksha Bima Yojana (PMSBY) has been increased to Rs 20. Which till now was only 12 rupees annually? At the same time, the annual premium for PM Suraksha Bima Yojana (PMSBY) has been increased from Rs 12 to Rs 20.
What is the eligibility of Pradhan Mantri Suraksha Bima Yojana?
Applicant’s age should be between 18 years to 70 years. The applicant should have an active savings bank account. When applicant applied for Pradhan Mantri Suraksha Bima Yojana they need to sign a consent form for auto debit from their bank.
How to make a claim for an insurance plan?
Filled out claim form (provided by the insurance company)
- Death certificate
- Policy document
- Deed of assignments/re-assignments, if any
- Legal evidence of title if the policy is not assigned or named
- Executed and discharged form with testimony
How to register PMSBY?
You can apply for PMSBY policy by visiting any branch of the bank in which you have an account. The form related to this scheme can be downloaded from related bank website or through branch. For premium, you have to give approval in the bank form that the amount of premium is automatically deducted from your account. Bank friends are also delivering PMSBY from door to door. The insurance agent can also be contacted for this. Government insurance companies and many private insurance companies also sell this plan.
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