Monday, January 17, 2022

Pradhan Mantri Suraksha Bima Yojana

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Pradhan Mantri Suraksha Bima Yojana is one of the three social sector schemes launched 6 years back on 9th May, 2015 nationally by the Prime Minister Narendra Modi in Kolkata to achieve a universal social security system, encourage insurance and specifically focusing on poor and weaker sections of the society. It is regulated by Department of Financial Services, Ministry of Finances and offered by the Public Sector General Insurance Companies such as LIC or GIC or any other General Insurance companies who are willingly ready to offer it to the public with tie up with the banks.

The PMSBY Scheme is aimed at providing accidental insurance at an highly affordable premium of Rs 12 per year. This Scheme is available to the people in the age group of 18-70 Years with a savings bank account for the coverage period from 1st June to 31st May. The premium of Rs 12 is paid on an annual basis which will be auto-debited from your savings bank account when you enroll in the scheme. It provides an ample amount for risk coverage of Rs 2 lakh for accidental death and permanent complete disability and Rs 1 lakh for permanent partial disability. 

Download Pradhan Mantri Suraksha Bima Yojana PDF

Latest News: Government of India with the help of the labour ministry and other ministries announced plans on 24 August, 2021 to integrate data of workers in the informal sector with insurance and pension schemes. Total of 380 Million workers registered with the database will be provided a 12-digit Universal Account Number (UAN) and a card having demographic details. The schemes included are Pradhan Mantri Suraksha Bima Yojana, PMSYM, PMJJBY, and PM-JAY (Ayushman Bharat). This move will boost the flow of welfare benefits and will be more convenient. Refer this article to know more about this news.

Read this complete article to know the application process, risk coverage, claim process and to download insurance certificates.

Offered ByPublic Sector General Insurance Companies or any other General Insurance Company 
MinistryDepartment of Financial Services | Ministry of Finance | Government of India
CompanyNational Insurance
Eligibility18-70 YearsSavings Bank Account
Coverage Period1June to 31May
Mode Of PaymentAuto debited 
Total Premium2 Lac
Total EmIsRs 12
Claim RequestWithin 30 Days of Accident
Claim Period30 Days
Websitehttps://jansuraksha.gov.in/

How to apply for Pradhan Mantri Suraksha Bima Yojana?

There are 3 general ways to apply for the PMSBY Scheme. First one is through the offline method, second one is the online process and last one is through SMS. All the methods are explained below-

Offline Method

Follow the steps given below to apply through the offline process.

Step 1: Visit your nearest bank in which you are having your savings account.

Step 2: Ask and Fill up the necessary details like Aadhar card number, name, address, declaration etc in the PMSBY Application form.

Step 3: Attach required documents with the application form.

Step 4: Submit the application form in the bank

Online Method: 

Follow the steps given below to apply through Net Banking.

Step 1: Go to the official website of your bank

Step 2: Login using your Bank Id and Password

Step 3: Click E-Services and Select Others from the dropdown Menu

Step 4: Click on the Social Security Schemes link then select pradhan mantri suraksha bima yojana scheme.

Social Security Schemes

Step 6: Enter your account number and click submit

Account Number Details

Step 7: Fill the online application form, enter all your and your nominee details then click apply.

Step 8: Registration successful window will appear and now you can check your PMSBY Scheme status once the acknowledgement slip gets generated.

Registration Successful

SMS Method:

You can also text “PMSBY Yes” to 5676712 in case of HDFC Bank account. Similarly you can send the same text to apply for the scheme on your respective bank number.

Risk Coverage

By paying an amount of Rs 12 Premium per year you can claim an accidental insurance of Rs 2 lac and Rs 1 lac in case of Death and partial disability respectively under pmsby yojana. Table given below shows the amount you can claim in a partial or complete disability and death case.

S. No

Coverage 

Amount Insured

1

Death

2 Lacs

2

Complete Disability (Lost Both Eyes Or Both Hands Or Both Legs) 

2 Lacs

3

Partial Disability(Lost One Eye Or One Hand Or One Leg) 

1 Lacs

How to claim PMSBY Yojana?

You can claim an accidental insurance amount by Visiting your nearest bank and filling up a PMSBY Claim Form provided. Attach the essential list of documents provided below with the form so that the claim settlement process will go without any hassle.

  • Duly signed PMSBY Claim form
  • In Death Case
    • Death Certificate, 
    • FIR Copy and 
    • Postmortem Report
  • In case of Partial or Complete Disability:
  • Disablement Certificate
  • Cancelled Cheque (of Nominee)

Note: You cannot initiate and claim an accidental insurance in case of suicide, accident due to intoxication, accidents due to excessive use of drugs or weeds, injury due to a criminal case.

How to download an Insurance certificate?

If you have applied for the PMSBY Scheme but haven’t downloaded the insurance certificate then follow these 5 simple steps to get your insurance certificate.

Step 1: Visit official website of National Insurance 

Step 2: Go to the about-us and click PMSBY Scheme.

Step 3: Click Download PMSBY Certificate

National Insurance Portal

Step 4 : Select Policy Year, Bank Name and Criteria then click search.

NIC PMSBY Portal

Step 5: Click on the generate policy tab and the pdf will be downloaded.

How successful is the PMSBY scheme?

The Scheme has been extremely successful in receiving premiums. Between the date of commencement of enrolment on 01st May till the date of launch of the scheme by the PM on 9th May, 4.42 Crore subscribers were enrolled in the PMSBY scheme.

Till April 2018, 13.48 Crore people had enrolled in the scheme. More than 16000 claims have been passed by the insurance companies. And till now 328 crore worth of claims have been settled by the government.

As of May 2021, 23.39 Crore people had enrolled in the scheme. More than 59,384 claims have been received by the authorities out of which 45, 992 claims have been dispersed. See the latest performance report of the PMSBY Scheme here.

The scheme is expected to help achieve financial inclusion by bringing insurance to the poorest members of society, insuring their or their families’ financial security, which would otherwise be ripped apart due to drastic effects of covid pandemic.

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