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Pradhan Mantri Suraksha Bima Yojana government-backed accident insurance scheme. Basically, it’s a private accident insurance plan which protects just in case of death or disability.
Most of the deaths within the country are thanks to accidents. Pradhan Mantri Suraksha Bima Yojana (PMSBY) is provided by the govt of India to supply financial assistance to the victim’s family. Basically, it’s a private accident insurance plan which protects just in case of death or disability.
Pradhan Mantri Suraksha Bima Yojana ( प्रधान मंत्री सुरक्षा बीमा योजना )
Pradhan Mantri Suraksha Bima Yojana is that the Indian Government’s accidental insurance cover which was announced within the 2015 Budget. This scheme was launched to supply personal accident insurance to the high-risk category like mechanics, laborers, truck drivers which involves tons of traveling. it’s also one of the most cost-effective insurance covers. The PMSBY also covers both partial and permanent disability cases.
Highlights of Pradhan Mantri Suraksha Bima Yojana (PMSBY)
Scheme Name | Pradhan Mantri Suraksha Bima Yojana |
Launched Date | 9 May 2012 |
Launched BY | n/a |
Objective | n/a |
Beneficiary | n/a |
Participating Banks
- Allahabad Bank
- Axis Bank
- Bank of India
- Bank of Maharashtra
- Bharatiya Mahila Bank
- Canara Bank
- Central Bank
- Corporation Bank
- Dena Bank
- Federal Bank
- HDFC Bank
- ICICI Bank
- IDBI Bank
- IndusInd Bank
- Kerala Gramin Bank
- Kotak Bank
- Oriental Bank of Commerce
- Punjab and Sind Bank
- Punjab National Bank
- South Indian Bank
- State Bank of Hyderabad
- State Bank of India
- State Bank of Travancore
- Syndicate Bank
- UCO Bank
- Union Bank of India
- United Bank of India
- Vijaya Bank
Convenor Banks and Toll-Free Number for States under PMSBY
State, convenor Banks and toll free number is given below:
State | Convenor Bank | Toll Free number |
West Bengal and Tripura | United Bank of India | 1800-345-3343 |
Uttarakhand | State Bank of India | 1800-180-4167 |
Uttar Pradesh | Bank of Baroda | 1800-102-4455 or 1800-223-344 |
Tamil Nadu | Indian Overseas Bank | 1800-425-4415 |
Telangana | State Bank of Hyderabad | 1800-425-8933 |
Sikkim | State Bank of India | 1800-345-3256 |
Rajasthan | Bank of Baroda | 1800-180-6546 |
Punjab | Punjab National Bank | 1800-180-1111 |
Puducherry | Indian Bank | 1800-4250-0000 |
Odisha | UCO Bank | 1800-345-6551 |
Nagaland | State Bank of India | 1800-345-3708 |
Mizoram | State Bank of India | 1800-345-3660 |
Meghalaya | State Bank of India | 1800-345-3658 |
Manipur | State Bank of India | 1800-345-3858 |
Maharashtra | Bank of Maharashtra | 1800-102-2636 |
Madhya Pradesh | Central Bank of India | 1800-233-4035 |
Lakshadweep | Syndicate Bank | 1800-4259-7777 |
Kerala | Canara Bank | 1800-425-11222 |
Karnataka | Syndicate Bank | 1800-4259-7777 |
Jharkhand | Bank of India | 1800-345-6576 |
Himachal Pradesh | UCO Bank | 1800-180-8053 |
Haryana | Punjab National Bank | 1800-180-1111 |
Gujarat | Dena Bank | 1800-255-885 |
Goa | State Bank of India | 1800-2333-202 |
Delhi | Oriental Bank of Commerce | 1800-1800-124 |
Daman and Diu | Dena Bank | 1800-225-885 |
Dadra and Nagar Haveli | Dena Bank | 1800-225-885 |
Chhattisgarh | State Bank of India | 1800-233-4358 |
Chandigarh | Punjab National Bank | 1800-180-1111 |
Bihar | State Bank of India | 1800-345-6195 |
Assam | State Bank of India | 1800-345-3756 |
Arunachal Pradesh | State Bank of India | 1800-345-3616 |
Andhra Pradesh | Andhra Bank | 1800-425-8525 |
Andaman and Nicobar Island | State Bank of India | 1800-345-4545 |
The convenor bank is not the only bank in the state that allows you to subscribe to the PMSBY scheme, you can subscribe through the various participating banks.
Pradhan Mantri Suraksha Bima Yojana characteristics
We have given Features of PM Suraksha Bima Yojana:
- The accidental death insurance cover renewable annually.
- The annual premium to be paid is Rs.12. This premium is prohibiting the service tax which is required at 14%.
- Up to Rs.2 lakh cover is payable to the nominee of the subscriber if he or she dies in an accident or is completely disabled thanks to the accident.
- The premium is auto-debited from the checking account of the subscriber.
- The subscriber can avail of the long-term option or renew the scheme per annum.
- The subscriber can exit the scheme at any time and may sign-up at any time within the future.
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Pradhan Mantri Suraksha Bima Yojana’s Eligibility Criteria
The eligibility criteria for Applying for Pradhan Mantri Suraksha Bima Yojana given below:
- The minimum age requirement is eighteen (18) years.
- The maximum age requirement is 70 years.
- Those people having a savings account and falling under the age between 18 – 70 years are eligible to apply to the policy.
- The checking account must be linked with the Aadhaar card.
- If the checking account isn’t linked with the Aadhaar card, then the Aadhaar card copy must be attached with the appliance form.
- If the individual has quite one bank account, he or she is merely eligible to hitch the scheme through one checking account.
- The premium to be paid is Rs.12 yearly.
- The premium amount is auto-debited from the insured’s checking account.
- The scheme is valid for a year and it is often renewed at the top of the year.
- The primary KYC document required is that the applicant’s Aadhaar card.
Documents Required for PM Suraksha Bima Yojana
There are required documents for The Pradhan Mantri Suraksha Bima Yojana:
- Name
- Aadhaar number
- Contact information
- Nominee details
- The application form is available in English, Hindi, Oriya, Telugu, Tamil, Bengali, Marathi, and Gujarati.
Claim Form for Pradhan Mantri Suraksha Bima Yojana (PDF)
Application Process of PMSBY
The following is the procedure to claim for the benefits under PMSBY:
- The registered or the nominee (in the event of death) must quickly inform the bank about the event of the accident.
- The claim form must be obtained from the bank or designated insurance companies or via the website. the shape is to be duly filled.
- The completed form is to be submitted to the bank branch within 30 days from the day of the occurrence of the accident.
- The form is to be supported by original FIR, post mortem report, death certificate, or just in case of disability, disability certificate that’s issued by a civil Surgeon. A discharge certificate should even be enclosed.
- The bank will verify the account details then forward the case to the insurance firm within 30 days of the submission of the claim.
- The insurer will then confirm that the insured is within the list of the insured persons within the master policy.
- The claim is going to be processed within 30 days of receiving the documents from the bank.
- The admissible claim is going to be then remitted to the nominee’s or the insured’s account.
- If the insured has not appointed a nominee, then the death claim is going to be paid to the legal heir. The legal heir must produce the succession certificate.
- The maximum time that’s allowed for the bank to end the claim procedure is 30 days.
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Required Details for Claim Pradhan Mantri Suraksha Bima Yojana (PMSBY)
- Name of the insured
- Full address of the insured
- Name and address of the bank branch
- Savings checking account number
- The contact number of the insured, i.e. mobile number, telephone number, email address, and Aadhaar number
- Details of the nominee, i.e. name, mobile or telephone number, email address, checking account for electronic transfer, and Aadhaar number.
- Details of the accident, i.e. the day, date and time of occurrence, place of occurrence, nature of the accident, and explanation for death or the small print of injury
- Name and address of the hospital or the attending doctor alongside the contact details
- Time and date of when the medic of the corporate can visit the insured.
- Details of the documents that are submitted
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Frequent Ask Question (FAQ)
1. What is the age requirement to subscribe or claim to Pradhan Mantri Suraksha Bima Yojana?
Ans. Age required between 18 to 70 years for PMSBY
2. Does PMSBY cover disability or death that occurred from natural calamities?
Ans. Natural calamities as defined under PMSBY is covered.
3. Does Pradhan Mantri Suraksha Bima Yojana cover death due to suicide or murder?
Ans. Suicide death is not covered. Whereas, death due to murder is covered.
4. How is the claim amount paid?
Ans. The disability claim amount will be credited to the applicant’s bank account. The death claim amount will be paid to the nominee’s account or to the legal beneficiary’s account
5. How to claim Pradhan Mantri Suraksha Bima Yojana?
Fill up the form and submit it alongside the supporting documents like Death Certificate, FIR, post mortem report, discharge certificate, and insurance certificate at the bank with which you’ve got the bank account. The bank will send the documents to the closest insurance office for review. Upon approval of the claim request, the insurance firm will transfer the claim amount to the policyholder or beneficiary’s bank account.
How to apply for PMSBY?
Step-by-guide to use for the PMSBY scheme online:
1. Log in to the internet banking website of the bank with which you’ve got a bank account.
2. Click on the ‘Insurance’ tab.
3. Choose the PMSBY scheme from the drop-down box.
4. Select the checking account through which you would like to form the premium payment. The policy and nominee details are going to be displayed on the screen.
5. Declare healthiness , acceptance of terms and conditions, and ensure that you simply don’t hold the other policy under an equivalent scheme by clicking on the respective buttons.
6. If you accept as true with the scheme details, click on confirm and download the acknowledgment document for future reference.