If you are economically weak and deprived of various healthcare facilities, then immediately enroll your name in the Pradhan Mantri Suraksha Bima Yojana scheme. This Pradhan Mantri Suraksha Bima Yojana (PMSBY) provides coverage of Rs 5 lakh per year to each family, which helps the economically disadvantaged to easily get health services. Below is some information about this scheme:
Pradhan Mantri Suraksha Bima Yojana: details of the scheme
Pradhan Mantri Suraksha Bima Yojana: Are you economically weak and deprived of various healthcare facilities? Then immediately enroll your name in the Pradhan Mantri Suraksha Bima Yojana scheme? This Pradhan Mantri Suraksha Bima Yojana (PMSBY) provides coverage of Rs 5 lakh per year to each family, which helps the economically disadvantaged to easily get health services. Below is some information about this scheme:
What is Pradhan Mantri Suraksha Bima Yojana?
The Government of India launched the Pradhan Mantri Suraksha Bima Yojana (PMSBY) in May 2015, which aims to provide affordable personal accident insurance to individuals. The scheme is available to people between the ages of 18 and 70 who have a savings account in any government-backed bank or financial institution.
What are the features of Pradhan Mantri Suraksha Bima Yojana?
Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a government-backed accident insurance scheme designed to provide financial protection to individuals in case of accidental death or disability. Some of its main features are discussed below:
Eligibility: For individuals between the ages of 18 and 70 who have a savings bank account.
Coverage: Two lakh rupees are paid for accidental death or total disability, and one lakh rupees for partial disability.
Premium: An affordable annual premium of 20 rupees will be automatically deducted from the account.
Simplicity: Enrolment is easy with minimal paperwork.
Accident Benefits: A lump sum payment is offered for death and total and partial disability due to an accident.
Pradhan Mantri Suraksha Bima Yojana Terms and Conditions:
If a person has multiple savings bank accounts in one or more banks, then that person will be eligible to join this scheme through only one savings bank account. Aadhaar will be the primary KYC for bank accounts. However, it is not mandatory for enrollment in this scheme.
Pradhan Mantri Suraksha Bima Yojana Claim Procedures:
- It is necessary to inform the bank immediately after the accident. The claim form can be obtained from the bank or the insurance company. The claim form must be submitted within 30 days of the accident.
- It is important to have the FIR, death certificate and autopsy report, disability certificate (if any), and discharge certificate along with the claim form.
- The details will be verified through the bank, and the case will be forwarded to the insurance company within 30 days of the claim submission. Finally, the claim will be paid to the nominated person. In case of the absence of the nominee, the claim will be forwarded to the legal heir. The primary objective of this scheme is to increase access to insurance in India and provide financial security to the poor.
Termination of Pradhan Mantri Suraksha Yojana:
It is mentioned in this regard that due to any of the following events, this policy will be cancelled and no further benefits will be given to you:
- If you turn 70 years of age, the policy may be cancelled.
- If the policyholder gets coverage through multiple accounts and the insurance companies inadvertently deduct the premium, the policy will be cancelled. As a result, insurance coverage will be limited to only one policy, and premiums will be forfeited.
- The policy will be cancelled if the savings account with the participating bank is closed or if the policy fails to maintain a sufficient balance to keep it in effect.
- If there is not enough balance on the due date, the policy will be closed due to a technical error or an administrative issue.
How to renew Pradhan Mantri Suraksha Bima Yojana?
The process for renewal of Pradhan Mantri Suraksha Bima Yojana is very simple. The policy is automatically renewed every year by automatically debiting the premium from the linked bank account. However, ensure that your account maintains a sufficient balance for Pradhan Mantri Suraksha Bima Yojana renewal, ensuring continued coverage under this affordable accident insurance scheme.
Why should people enrol in this Pradhan Mantri Suraksha Bima Yojana?
People will enrol themselves in the Pradhan Mantri Suraksha Bima Yojana, as it provides financial protection in case of accidental death or disability for a very small premium. This scheme provides financial assistance, especially to the economically weaker sections of society, and helps those who cannot afford to buy insurance.
Pradhan Mantri Sukkur Bima Yojana Real-Time Enrolment:
As of 2nd February 2016, more than 124 million people in India have already enrolled for this insurance scheme.
Official Website Link: Get Details
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