Pradhan Mantri Suraksha Bima Yojana Online Update Pradhan Mantri Suraksha Bima Yojana is a social security scheme. It is basically a personal accident insurance plan which provides protection against death or disability due to accident. Know its benefits
Accidental death is one of the leading causes of death in India. To help the victim family financially, the Government of India gives a social security scheme called Pradhan Mantri Suraksha Bima Yojana (PMSBY). It is basically a personal accident insurance plan which provides protection against death or disability due to accident.
Eligibility Criteria
The age of the person should be between 18 to 70 years.
The individual should have a savings bank account and set an auto debit instruction for deduction of premium of the policy.
Applications
To activate this social security scheme, the account holder has to first log in to the internet banking of the bank where he/she has a savings account and follow the process of applying for the scheme accordingly.
insurance cover
The insurance cover is for a period of one year from 1st June to 31st May. The total sum insured under the scheme is Rs 2 lakh.
premium payment
The premium payable for the policy is only 12 per annum and it is automatically debited from the bank account. Every year, between May 25 and May 31, the renewal premium will also be deducted from the bank account, unless the account holder has directed to cancel.
