Pradhanmantri Suraksha Bima Yojna (PMSBY)

The scheme will be a one year cover, renewable from year to year; Accident Insurance Scheme offering accidental death and disability cover for death or disability on account of an accident.

  • All savings bank account holders in the age 18 to 70 years in participating banks will be entitled to join.
  • The cover shall be for the one year period stretching from 1st June to 31st May.
  • The premium of Rs. 12 will be deducted from the account holder’s savings bank account for which option to join / pay by auto-debit from the designated savings bank account by 31st May of every year subject to availability of the fund in the Bank’s account

Benefits: As per the following table:

 

Table of Benefits

Sum Insured

a.

Death

Rs. 2 Lakh

b.

Total and irrecoverable loss of both eyes or loss of use of both hands or feet or loss of sight of one eye and loss of use of hand or foot

 

Rs. 2 Lakh

c.

Total and irrecoverable loss of sight of one eye or loss of use of one hand or foot

Rs. 1 Lakh