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PMSBY ( Pradhan Mantri Suraksha Bima Yojana ) : Eligibility, Coverage & Benefits

Team AckoOct 16, 2023

The authorities keep coming up with beneficial welfare schemes for citizens belonging to different strata of society. The Pradhan Mantri Suraksha Bima Yojana is one such scheme. It is an Accident Insurance policy that was discussed in 2015’s budget speech. It was launched two months later in May 2015. Read ahead to know more about this government-backed insurance scheme.

Pradhan Mantri Suraksha Bima Yojana (PMSBY)

Contents

What is the Pradhan Mantri Suraksha Bima Yojana?
Features and Benefits of Pradhan Mantri Suraksha Bima Yojana:
Coverage of Pradhan Mantri Suraksha Bima Yojana:
What’s Not Covered in Pradhan Mantri Suraksha Bima Yojana?
What are the Eligibility Criteria for Pradhan Mantri Suraksha Bima Yojana?
Documents Required for PMSBY:
Banks Participating in PMSBY:
How to Enrol and Register for Pradhan Mantri Suraksha Bima Yojana:
Pradhan Mantri Suraksha Bima Yojana Premium:
Claim Process of PMSBY:
How to Renew PMSBY:
How to Check Pradhan Mantri Suraksha Bima Scheme’s Application Status:
Pradhan Mantri Suraksha Bima Yojana (PMSBY) Vs Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY):
PMSBY Toll-Free Number:
Health Insurance Companies Providing PMSBY Scheme:
Pradhan Mantri Suraksha Bima Yojana Online Registration:
Subscribing to PMSBY: SMS vs. Internet Banking
- Subscribing via SMS:
Subscribing via Internet Banking:
- PMSBY Premium
- Conditions for Ending Pradhan Mantri Suraksha Bima Yojana Coverage
Frequently Asked Questions:

What is the Pradhan Mantri Suraksha Bima Yojana?

The Pradhan Mantri Suraksha Bima Yojana (PMSBY) is an accident insurance scheme launched by the Government of India. It is also known as the PM Rs. 12 Insurance Scheme. The social security scheme is directed towards people belonging to the lower-income category. This is because unlike several other health insurance policies offered by commercial companies, this scheme does not charge a higher premium.

The policy offers an insurance cover against death, total disability, and partial disability. The insurance premium of Rs 12 for the policy shall be deducted from the registered bank account of the policyholder. People in the age group of 18 to 70 can avail the benefits of PMSBY by providing their Aadhaar card as a Know Your Customer (KYC) document.

Features and Benefits of Pradhan Mantri Suraksha Bima Yojana:

The PMSBY gives people from the lower-income group a chance to insure themselves against unfortunate events that can lead to death or disability. Here are the features and benefits of the government scheme.

Features of PMSBY	Benefits of PMSBY
A low-priced policy can be purchased for Rs. 12.	Accident insurance cover without spending a lot as compared to other policies.
Money is given to the nominee in case of death.	The welfare of the family in case of death, as the claim amount can be availed by the nominee.
Auto-debit of premium from the bank account.	No regular payment formality worries due to auto-debit facility.
Option to choose a long-term policy or yearly renewability.	Easy processing of continuous cover.
Easy exit and re-entry measures.	Flexibility to continue or discontinue as per one’s wish.
It can help save tax.	Deduction as per Section 80C and Sum Insured of Rs. 1 lakh is non-taxable as per Section 10(10D) of the Income Tax Act.

Coverage of Pradhan Mantri Suraksha Bima Yojana:

Here’s a table highlighting the cover offered by the PMSBY.

Event	Claim Amount (Rs.)
An accident leading to policyholder’s death	2 lakhs (given to nominee)
Permanent total disability	2 lakhs
Permanent partial disability	1 lakh

Note: Definition of total and partial disability will be as per the policy’s terms and conditions.

What’s Not Covered in Pradhan Mantri Suraksha Bima Yojana?

As mentioned in the above section, the PMSBY is an accident and disability insurance policy. It covers a policyholder in case of death and disability. However, there are certain restrictions related to the cause of death and the nature of the disability. Death by suicide is not covered. Non-permanent disabilities (partial disability without irrecoverable loss) shall not be covered unless specified otherwise.

What are the Eligibility Criteria for Pradhan Mantri Suraksha Bima Yojana?

You will have to meet certain requirements to be able to avail the benefits of the PMSBY. Here’s a list of such eligibility requirements.

The minimum age requirement for being part of the scheme is 18 years.
The maximum PMSBY age limit to avail this scheme is 70 years.
Interested potential policyholders must have an active savings bank account.
The applicant’s saving bank account should be integrated with the person’s Aadhaar card.
In case the Aadhaar details are not linked to the mentioned bank account, a copy of the card should be sent along with the application.
Payment of the premium of Rs. 12.

Documents Required for PMSBY:

Proof of Identity: You will need to provide valid proof of identity. This can typically be your Aadhaar card, which serves as a widely accepted and recognized identification document in India.

Aadhaar Card: Your Aadhaar card is a crucial document for this application. It is used for verification purposes and ensures that your identity is properly confirmed during the enrollment process.

Contact Information: You will be required to furnish accurate contact information, including your current address and phone number. This information helps in communication and ensures you receive updates related to the insurance scheme.

Nominee Details: It's important to provide details about your chosen nominee. The nominee is the person who will receive the insurance benefits in case of an unfortunate event. Ensure these details are correctly filled out to avoid any complications later.

Application Form: The PMSBY application form is available in multiple languages, including English, Hindi, Bengali, Marathi, Oriya, Telugu, Tamil, and Gujarati. You will need to fill out this form with all the necessary details accurately.

Aadhaar Card Copy: If your Aadhaar card is not already linked to your savings bank account, you may need to submit a copy of it along with your application form. This ensures that your identity is correctly associated with your bank account.

Banks Participating in PMSBY:

Here’s a list of banks that are a part of the PMSBY.

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

Also, read: Arogya Sanjeevani Health Insurance

How to Enrol and Register for Pradhan Mantri Suraksha Bima Yojana:

You can enrol yourself for the PMSBY by approaching an affiliated bank or an insurance company. The Pradhan Mantri Suraksha Bima Yojana form or the PMSBY form can also be downloaded from the government’s Jansuraksha website. It is available in multiple languages.

Language	PMSBY Application Form
Bangla (বাংলা)	PMSBY Bangla Application Form
English (English)	PMSBY English Application Form
Gujarati (ગુજરાતી)	PMSBY Gujarati Application Form
Hindi (हिन्दी)	PMSBY Hindi Application Form
Kannada (ಕನ್ನಡ)	PMSBY Kannada Application Form
Marathi (मराठी)	PMSBY Marathi Application Form
Odia (ଓଡ଼ିଆ)	PMSBY Odia Application Form
Tamil (தமிழ்)	PMSBY Tamil Application Form
Telugu (తెలుగు)	PMSBY Telugu Application Form

The registration process can be initiated via the respective internet banking facility or by sending a message on the onboarding organization’s toll-free number.

Here’s how you can activate the policy using the SMS facility.

Step 1 – Receive activation SMS.
Step 2 – Reply to the activation SMS with ‘PMSBY Y’.
Step 3 – Receive a message acknowledging the receipt.
Step 4 – Bank will manage the processing information from the back-end of the savings account.

Here’s how you can activate the policy using the internet banking facility (PMSBY Online Apply).

Step 1 – Login to the internet banking account.
Step 2 – Click on Insurance.
Step 3 – Identify the account to be used for paying the premium amount.
Step 4 – Check details and confirm.
Step 5 – Download receipt and note the stated reference number.

Pradhan Mantri Suraksha Bima Yojana Premium:

The PMSBY premium is Rs. 12 for a year. It will be auto-debited from the registered bank account of the policyholder. There is a possibility that the premium will be reviewed as per the annual claims experience.

Claim Process of PMSBY:

You can raise a claim against the PMSBY in case of partial or total disability. In case of death, your nominee can file a claim. If there is no nominee, then the claim amount shall be given to the legal heir of the deceased policyholder. Here’s the claim process.

Step 1 – Policyholder/nominee should reach out to the bank or the insurance company from where the policy was purchased to raise a claim.
Step 2 – Obtain claim form and fill it. It will include details such as name, address, contact information, details of the hospital, etc. The PMSBY’s claim form can be downloaded from the Jansuraksha website for free. The form is available in multiple languages such as Punjabi, Telugu, etc.
Step 3 – Submit the filled form with the relevant supporting documentation such as disability certificate or death certificate in case the claim is raised by the nominee.
Step 4 – The insurance company will confirm the details.
Step 5 – If the documents turn out to be proper, the claim amount will be transferred to the specified bank account and the claim will be settled.

Language	PMSBY Claim Form
English (English)	PMSBY English Claim Form
Gujarati (ગુજરાતી)	PMSBY Gujarati Claim Form
Hindi (हिन्दी)	PMSBY Hindi Claim Form
Marathi (मराठी)	PMSBY Marathi Claim Form
Odia (ଓଡ଼ିଆ)	PMSBY Odia Claim Form
Punjabi (ਪੰਜਾਬੀ ਦੇ)	PMSBY Punjabi Claim Form
Tamil (தமிழ்)	PMSBY Tamil Claim Form
Telugu (తెలుగు)	PMSBY Telugu Claim Form

Also, read: Nominee in Health Insurance

How to Renew PMSBY:

You can renew PMSBY by enabling the auto-debit facility. This way the premium will be automatically debited from your bank account and the policy shall be renewed. The scheme can be renewed on an annual basis. The policy duration is between June 1 to May 31. Therefore, the policy should be renewed before the end of May. If you don’t want to renew, you will have to send a cancellation request to the respective bank.

How to Check Pradhan Mantri Suraksha Bima Scheme’s Application Status:

You can check PMSBY’s account status by following these steps.

Step 1 – Visit your bank’s website.
Step 2 – Login using internet banking.
Step 3 – Visit the appropriate PMSBY section.
Step 4 – Enter the bank account number.
Step 5 – Enter PMSBY application number.
Step 6 – Click Submit.
Step 7 – Check status.

Pradhan Mantri Suraksha Bima Yojana (PMSBY) Vs Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY):

In the year 2015, the Government of India announced three Social Security Schemes for the welfare of the country’s poor and underprivileged citizens. PMSBY and PMJJBY are a part of those three schemes, the third one being Atal Pension Yojana. These schemes are directed towards financial inclusion. The two insurance schemes aim to offer financial security to the weaker sections of the society. Here’s a table distinguishing between PMJJBY and PMSBY.

Point	PMSBY	PMJJBY
What does it offer?	Accident insurance	Life insurance
Who is eligible?	People in the age group of 18 to 70. They should have a bank account with an auto-debit facility.	People in the age group of 18 to 50. They should have a bank account with an auto-debit facility.
What is the premium charged?	Rs. 12 for a year	Rs. 330 for a year
What is the coverage?	The coverage is Rs. 2 lakhs for death and permanent total disability and Rs. 1 lakh for partial total disability.	Coverage is Rs. 2 lakhs.
Insurance coverage up to?	Coverage up to 70 years of age.	Coverage up to 55 years of age.
Is there a waiting period?	No waiting period.	No waiting period for accidental death, but the waiting period for natural death is 45 days.

Also, read: Insurance for COVID-19

PMSBY Toll-Free Number:

The PMSBY customer care number is 1800-180-1111/1800-110-001. It is a national-wide toll-free number. You can get the state-wise toll-free number on Jansuraksha’s website.

State Name	Name of SLBC Convenor Bank	Toll Free Contact Number
Andhra Pradesh	Andhra Bank	1800-425-8525
Andman & Nicobar Island	State Bank of India	1800-345-4545
Arunachal Pradesh	State Bank of India	1800-345-3616
Assam	State Bank of India	1800-345-3756
Bihar	State Bank of India	1800-345-6195
Chandigarh	Punjab National Bank	1800-180-1111
Chhattisgarh	State Bank of India	1800-233-4358
Dadra & Nagar Haveli	Dena Bank	1800-225-885
Daman & Diu	Dena Bank	1800-225-885
Delhi	Oriental Bank of Commerce	1800-1800-124
Goa	State Bank of India	1800-2333-202
Gujarat	Dena Bank	1800-225-885
Haryana	Punjab National Bank	1800-180-1111
Himanchal Pradesh	UCO Bank	1800-180-8053
Jharkhand	Bank of India	1800-345-6576
Karnataka	Syndicate Bank-SLBC	1800-4259-7777
Kerala	Canara Bank	1800-425-11222
Lakshadweep	Syndicate Bank	1800-4259-7777
Madhya Pradesh	Central Bank of India	1800-233-4035
Maharashtra	Bank of Maharashtra	1800-102-2636
Manipur	State Bank of India	1800-345-3858
Meghalya	State Bank of India	1800 - 345 - 3658
Mizoram	State Bank of India	1800-345-3660
Nagaland	State Bank of India	1800-345-3708
Odisha	UCO Bank	1800-345-6551
Puducherry	Indian Bank	1800-4250-0000
Punjab	Punjab National Bank	1800-180-1111
Rajasthan	Bank of Baroda	1800-180-6546
Sikkim	State Bank of India	1800-345-3256
Telangana	State Bank of Hyderabad	1800-425-8933
Tamil Nadu	Indian Overseas Bank	1800-425-4415
Uttar Pradesh	Bank of Baroda	1800-102-4455 / 1800-223-344
Uttrakhand	State Bank of India	1800-180-4167
West Bengal and Tripura	United Bank of India	1800-345-3343

Health Insurance Companies Providing PMSBY Scheme:

Bajaj Allianz
Cholamandalam MS
ICICI Lombard
New India Assurance
Universal Sompo
United India Insurance
National Insurance
Reliance General Insurance

Pradhan Mantri Suraksha Bima Yojana Online Registration:

Step 1: To enroll in the Pradhan Mantri Suraksha Bima Yojana (PMSBY), individuals have the option to visit any of the participating banks or health insurance companies.

Step 2: Many well-known banks facilitate subscribers in obtaining the policy through their Internet banking services.

Step 3: Subscribers can access the scheme by logging into their internet banking accounts and completing the enrollment process.

Step 4: Alternatively, subscribers can send a message from their registered mobile number to the toll-free numbers provided by the banks and insurance companies.

This process simplifies access to the PMSBY, making it easier for individuals to secure insurance coverage for their well-being and financial security.

Subscribing to PMSBY: SMS vs. Internet Banking

Subscribing via SMS:

Activation SMS: To initiate the process, individuals must first receive an activation SMS. This message typically contains instructions on how to proceed.

Response 'PMSBY Y': Upon receiving the activation SMS, the subscriber needs to respond with 'PMSBY Y' to confirm and activate the scheme.

Acknowledgment Message: After confirming their intent to enroll, subscribers will receive an acknowledgment message. This message serves as a confirmation of their enrollment.

Bank Processing: The subscriber's bank will then take care of the processing from the back-end, linking the PMSBY to their savings account

Subscribing via Internet Banking:

Login to Internet Banking: Start by logging in to your respective bank's internet banking account using your credentials.

Access the Insurance Section: Within the internet banking interface, locate and access the "Insurance" section. This is where you can manage your PMSBY enrollment.

Choose Premium Payment Account: Select the bank account through which you want to pay the insurance premium. Ensure that this account has sufficient funds to cover the premium amount.

Review and Confirm: Carefully review all the details you've entered to ensure accuracy. Once satisfied, confirm your selection to proceed with the enrollment.

Download Confirmation Receipt: Following confirmation, you can download the confirmation receipt. This receipt is essential as it contains your reference number, serving as proof of your PMSBY subscription via internet banking.

PMSBY Premium

Like any other government-initiated scheme, every Indian citizen can avail of the PMSBY is to a nominal price of ₹12 per year. On an annual basis, the amount is deducted directly from the linked savings bank account of the insured.

1st June of each year, this premium is deducted.

Conditions for Ending Pradhan Mantri Suraksha Bima Yojana Coverage

The Pradhan Mantri Suraksha Bima Yojana (PMSBY) coverage concludes in the following situations:

Upon reaching the age of 70.
In case the savings account does not maintain the minimum balance to cover the ₹12 annual premium.
For individuals with multiple accounts, the premium is deducted from one account, and any additional premiums are forfeited.
If the auto-debit transaction for the premium amount fails.
When the insurance coverage is terminated due to technical issues or insufficient funds, it can be reinstated after paying the outstanding premium in full.

Frequently Asked Questions:

Listed below are commonly asked questions

related to the government’s social welfare scheme called PMSBY.

What is the essence of this scheme?

The essence of the scheme is to provide people with a Personal Accident insurance cover at a price that is considerably lower than what is charged by commercial insurance plans. It is a yearly policy and covers death and disability as per the terms and conditions of the scheme.

What are the top benefits of the scheme?

The top benefits of the scheme are that the policyholder will receive a fixed amount in case of disability and the nominee shall receive a fixed amount in case of the policyholder’s death. The amount will be as stated in the terms and conditions.

What is the premium payment process?

The premium payment process relies on the auto-debit facility. The policyholder must approve of this while enrolling for the scheme.

Which organisations are responsible for offering and administering the scheme?

Public sector general insurance companies and other general insurance companies along with banks are responsible for offering and administering the scheme.

Are joint account holders eligible for the scheme?

Yes, joint account holders are also eligible for the scheme.

Does the scheme follow the financial year pattern for the policy period?

No, the scheme does not follow the financial year pattern, the period usually is from June 1 to May 31.

Can someone join the scheme in subsequent years after it was launched?

Yes, one can join the scheme in subsequent years as well by adhering to the terms and conditions.

Is it possible to be a part of the scheme for a year, leave it for a couple, and then rejoin again?

It is possible to rejoin the scheme.

Which organisation will be known as the Master Policyholder?

The participating banks will be the Master Policyholders as per the scheme.

When will the policy be terminated?

The policy will be terminated if the registered bank account is closed, the balance is insufficient, the policyholder reaches the age of 70 and if multiple banks have debited the premium (the only one will be allowed). The policy can be cancelled by the individual by getting in touch with the participating bank.

Does the scheme cover death by murder?

Yes, death by murder is covered as per the scheme. Note that suicide is not covered.

Is death or disability due to natural calamities covered?

Yes, death or disability due to natural calamities mentioned in the terms and conditions is covered.

Is it possible for a Non-resident Indian to be a part of this scheme?

Yes, a non-resident Indian can also be a part of this scheme. The claim amount shall be paid in Indian currency.

Will the policy reimburse expenses related to the hospitalisation in case of an accident?

No, reimbursement of expenses is not supported by the scheme.

Is a police FIR necessary while applying for a claim under the scheme?

The answer varies from one case to another. For example, if the accident is caused because of a car accident, a police FIR is needed. It is not needed for disability due to falling from a tree. For that, hospital records should suffice.