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PM Narendra Modi (link narendra modi page) in 2015 launched Pradhan Mantri Suraksha Bima Yojana (PMSBY) in Kolkata, West Bengal. It is an Accident Insurance Scheme (AIS) supplying demise and incapacity cover as a result of an accident.
For More Detailed Information About Pradhan Mantri Suraksha Bima Yojana –Click Here
Key Features of Pradhan Mantri Suraksha Bima Yojana (PMSBY)
- It affords for the threat insurance of 2 lakh rupees for accidental loss of life and complete incapacity and 1 lakh rupees for partial incapacity because of an accident.
- It is available to people within the age group of 18 to 70 years having a savings bank account.
- The coverage period is of one-year duration beginning from 1 June to 31 March of the succeeding year.
- A premium of 12 rupees consistent with annum is paid by means of the subscriber that allows to be deducted from the account holder’s financial savings bank account via an auto-debit facility in a single installment on or earlier than 1 June of each annual coverage length.
- The product may be offered via Public Sector General Insurance Companies (PSCs) and other General Insurance businesses inclined to offer the product on similar phrases with vital approvals and tie-up with banks for this purpose.
Eligibility for Pradhan Mantri Suraksha Bima Yojana
Any person should follow the below-mentioned criteria to be eligible for the Pradhan Mantri Suraksha Bima Yojana:
- Any man or woman aged between 18 years to 70 years are eligible to use the scheme.
- He/she have to have a bank account.
- The individual needs to publish their Aadhaar details whilst applying for the scheme.
- This Aadhaar details can be connected with their financial institution account.
- If any individual has a couple of financial institution accounts of 1 or different banks, then he/she will be eligible to enroll in the scheme through one bank account only. In the case of a joint account, the scheme advantages can be availed with the aid of all the bank account holders.
- In the case of an NRI beneficiary, the claim benefits will only be provided to the nominee in Indian currency.
- According to Pradhan Mantri Suraksha Bima Yojana, any accidental dying, murder, or incapacity because of natural calamities is covered below this scheme. Whereas any suicidal demise isn’t covered underneath Pradhan Mantri Suraksha Bima Yojana. Also, the circle of relative’s participants will not be supplied with any advantages in the case of suicidal deaths.