Introduction:
The desire for insurance to safeguard oneself and family members is universal, but high premiums from insurance companies pose a barrier for many. Recognizing this, the Central Government has introduced the Pradhan Mantri Suraksha Bima Yojana (PMSBY) for citizens with modest incomes. This scheme provides insurance coverage up to Rs 2 lakh, making it accessible for economically disadvantaged individuals with an annual premium of just Rs 20.
In this article, we will delve into the details of the Pradhan Mantri Suraksha Bima Yojana 2024, covering eligibility criteria, application procedures, and more.
Key Information:
Pradhan Mantri Suraksha Bima Yojana 2024
Objective of PM Suraksha Bima Yojana:
The scheme, launched by Prime Minister Narendra Modi on May 8, 2015, aims to offer accident insurance coverage. It provides financial assistance in the event of the insured person’s death or disability due to an accident. The nominee receives the insurance amount if the insured person passes away in an accident.
Premium and Eligibility:
The scheme requires a nominal premium of Rs 20 per year, deducted directly from the insurance holder’s bank account. Individuals aged 18 to 70 years are eligible for coverage.
Claim Process:
To avail the benefits, the beneficiary must submit a duly filled claim form to the bank branch or post office within 30 days of the accident.
Objective of PM Suraksha Bima Yojana:
The primary goal of PMSBY is to provide insurance cover to poor families, ensuring financial support in case of the insured’s death or injury. The scheme targets families facing crises due to the head of the household’s accident-related demise.
Conditions for Benefits:
Under PMSBY, financial assistance of Rs 2 lakh is provided in the event of complete disability, such as the loss of both hands, legs, or complete vision in one eye. In case of death, the insured’s family receives a benefit of Rs 2 lakh. Additionally, partial disabilities, such as the loss of one hand, one leg, or vision in one eye, result in a benefit of up to Rs 1 lakh.
Features of PMSBY:
- Geared towards the poor and backward class citizens.
- Offers financial assistance of Rs 1 lakh in case of accident or partial disability.
- Provides a benefit of Rs 2 lakh if the insured person dies or sustains severe injuries.
- Requires an annual premium of only Rs 20, previously Rs 12.
- Limited to individuals aged 18 to 70.
How to Apply Online for Pradhan Mantri Suraksha Bima Yojana
The online application process for PMSBY is simple and user-friendly. Individuals can visit the official website here and follow the step-by-step instructions to secure their coverage.
Offline Application Process for PMSBY
For those who prefer offline methods, the application process involves visiting the nearest bank branch or post office. The staff will assist in filling out the necessary forms and guide applicants through the process.
Conclusion:
Pradhan Mantri Suraksha Bima Yojana stands as a crucial initiative to extend insurance coverage to economically vulnerable sections of society. By offering affordable premiums and substantial benefits, the scheme aims to alleviate financial burdens resulting from accidents, thereby promoting the well-being of families across the nation.
FAQs about PM Suraksha Bima Yojana
- Who is eligible for PMSBY coverage?
- Individuals aged 18 to 70 can avail of the benefits of Pradhan Mantri Suraksha Bima Yojana.
- What is the annual premium for PMSBY?
- The annual premium for PMSBY is a mere Rs 20, making it affordable for a wide range of individuals.
- How is the premium payment managed?
- The premium is automatically deducted from the account of the insurance holder at the stipulated time.
- What is the claim process in case of an accident?
- The beneficiary must submit the duly filled claim form to the concerned bank branch or post office within 30 days of the accident.
- Can one apply for PMSBY offline?
- Yes, individuals can apply for Pradhan Mantri Suraksha Bima Yojana offline by visiting the nearest bank branch or post office.
Download Pradhan Mantri Suraksha Bima Yojana
Source : https://www.jansuraksha.gov.in