logo

KHOJinINDIA.com is the India's leading business-to-business (B2B) Media Company that facilitates global trade, with a particular focus on the Indian market.

Latest Shots

Get in touch

Reach to us

173 Street West Gurugram, Gurgaon, Harayana, India

Prime Minister Suraksha Bima Yojana Policy PMSBY- KHOJinINDIA

Prime Minister Suraksha Bima
Yojana Policy PMSBY-2019

  • An Indian Invention of Digital India
  • Pradhan Mantri Suraksha Bima Yojana Registration Process:


    Pradhan Mantri Suraksha Bima Yojana (PMSBY) was launched in May 2015 by PM Narendra Modi. PMSBY is a government-backed Accidental Death Insurance Scheme. According to a survey, till May 2015 only 20% of the population in India had any type of insurance and the main goal of the scheme is to increase this number. This scheme is a far reaching and good initiative of the Government of India.

    Though the Pradhan Mantri Suraksha Bima Yojana (PMSBY) is available to all people, but the scheme was launched keeping in mind that all backward and poor sections of people can be covered under this scheme. The people who fall under the BPL category will be the biggest beneficiaries of this scheme . Those who belong to the poverty line or the disadvantaged category and are unable to pay any type of insurance plans available with private or even public sector insurance companies, then they are entitled to this scheme is. Generally, Suraksha Bima Yojana is for those who do not come under any type of insurance scheme, especially in rural areas of the country.


    Pradhan Mantri Suraksha Bima Yojana (PMSBY) and what are its benefits?

    PM Suraksha Bima Yojana Benefits - PM Bima Yojana is a far-reaching and very good initiative of the Government of India, under this scheme the candidate has insurance up to Rs 2 lakh. The benefits of this scheme are as follows:


    • The scheme provides Accidental Death benefits up to Rs 2 lakh .
    • If the insured dies accidental or permanent disability or irreversible (loss of both hands, eyes or eyesight or one leg or both legs) then the insurance cover will be up to Rs 2 lakh .
    • In case of partial disability or loss of one leg, arm, and eye or vision, the sum assured will be up to Rs 1 lakh .
    • The sum assured will be given to the nominee .
    (I) Features of Pradhan Mantri Suraksha Bima Yojana (PMSBY): -

    Features of PM Suraksha Bima Yojana are as follows:

    • This plan is mandatory to be renewed every year with cover for one year .
    • It is provided by public sector general insurance companies or any other general insurance company who are willing to offer products on equal terms with necessary approvals and engage with banks for this purpose.
    • Banks can engage any insurance company of their choice (Bima Company) to offer this scheme.
    (II) Eligibility for PM Suraksha Bima Yojana (PMSBY): -

    The eligibility criteria for getting the policy under PM Suraksha Bima Yojana is given below.

    • The policy candidate should be at least 18 years of age and not more than 70 years.
    • The candidate must have an active Saving Bank Account .
    • The candidate has to sign an MoU for auto debit of the policy premium .
    Note - As we mentioned earlier, PM Suraksha Bima Yojana is a universal scheme, which every Indian citizen can avail. But the biggest benefit of this scheme comes to the people who fall under the BPL category, who are not able to pay any type of insurance schemes.

    How to apply for Pradhan Mantri Suraksha Bima Yojana and what will be the premium amount? 

    Prime Minister Security Insurance Scheme - The biggest advantage of PM Suraksha Bima Yojana is that even the poorest person can easily pay the premium of this insurance scheme. The premium for each member is only Rs 12 / - per year (Only Rs 12 / - Annual Premium) , which is a very small amount to pay the premium. Once availing the insurance, an amount of Rs 12 / - will be auto-debited from the savings bank account of the policy holder. The auto-debit transaction will be conducted on an annual renewal basis for a coverage period from 31 May to 1 June.

    If the automatic debit of the premium amount is not known on 1 June, the insurance plan will be discontinued. The policy can be automatically renewed or re-initiated after auto debit of the premium amount from the bank account .

    • To download the Consent-cum-Declaration Form for Pradhan Mantri Suraksha Bima Yojana , click in the link given below in Hindi.

      Click Here

    • To download the medicine form for Pradhan Mantri Suraksha Bima Yojana , click in the link given below.

      Click Here

    (A) Coverage Scope of Pradhan Mantri Suraksha Bima Yojana (PMSBY): - 

    Only one policy per person is allowed if the person has more than one savings bank account.

    1. Aadhaar card is a mandatory and primary document to be registered under the scheme .
    2. The policy premium will be auto-debit every year from the savings bank account of the policy holder .
    3. If the policyholder withdraws from the scheme for any reason, he can re- enroll from the following year with the same terms and conditions .
    (B) End of Pradhan Mantri Suraksha Biama Yojana: -

    There are some of the following situations when the policy account of the holder will be closed or terminated and there will be no benefit after that.

    1. There will be no benefit after the customer attains the age of 70 years .
    2. Due to lack of balance in the savings account at the time of policy renewal in subsequent years .
    3. If the customer is covered by more than one savings bank account and the premium is being paid intentionally, only one covered policy will remain active in this situation and others will be closed / terminated and the premium paid forfeited. Will go.
    4. If the policy cover is terminated due to technical or administrative reasons or due date, the insurance cover can be reinstated only after the submission of the full annual premium .
    Number of policies executed under Pradhan Mantri Suraksha Bima Yojana-
    PM Suraksha Bima Yojana (Number of Policies) - According to the records, a total of 124,770,760 people have been covered under this scheme till 12 February 2016. Currently, 42 private and public sector banks are participating in the scheme and below is a bank-wise result table of several policies undertaken by each bank. For more information about Pradhan Mantri Suraksha Bima Yojana (PMSBY), please visit Jan Dhan se Jan Suraksha Portal of India, the official website of Ministry of Finance, Government of India . The link is mentioned below

    Click Here

    If you have any query related to Pradhan Mantri Suraksha Bima Yojana , call the national toll-free helpline number given below for immediate solution.

    National toll-free number: - 1800-180-1111





    Back To Top