Pradhan Mantri Suraksha Bima Yojana (PMSBY)
What is PMSBY?
Pradhan Mantri Suraksha Bima Yojana is a government-backed personal accident insurance scheme that provides ₹2 lakh coverage for accidental death or permanent disability — for a premium of just ₹20 per year (less than ₹2 per month).
Coverage
| Event | Amount |
|---|---|
| Accidental death | ₹2 lakh |
| Permanent total disability (both eyes, both hands/feet) | ₹2 lakh |
| Permanent partial disability (one eye or one limb) | ₹1 lakh |
Does NOT cover: Natural death, illness, suicide.
Who Can Enrol?
- Age: 18 to 70 years
- Must have a savings bank account linked to Aadhaar
- One person can have only one PMSBY policy (linked to one bank account)
Premium
- ₹20 per year (auto-debited from your bank account every June 1)
- No medical examination required
- Policy renews automatically if you have sufficient balance
How to Enrol
Through Your Bank
- Visit your bank branch
- Fill the PMSBY consent-cum-declaration form (free)
- Provide Aadhaar-linked bank account details
- Premium of ₹20 auto-debited from June 1
Through Net Banking / Mobile Banking
Most banks allow PMSBY enrollment through their app:
- SBI YONO → Insurance → PMSBY
- Most bank apps have it under "Government Schemes" or "Insurance"
Through Bank Mitra / Business Correspondent
Available in rural areas at your village's Bank Mitra kiosk.
How to Make a Claim
Accidental Death Claim
- Nominee contacts the bank branch within 30 days of death
- Documents needed:
- Death certificate
- FIR (for accidental death)
- Post-mortem report
- Bank passbook / cancelled cheque
- Aadhaar of deceased and nominee
Disability Claim
- Account holder contacts the bank
- Documents needed:
- Certificate from a Civil Surgeon / government hospital
- FIR (if accident involved third party)
- Aadhaar and bank details
Processing Time
Claims must be settled within 30 days of receiving all documents.
PMSBY + PMJJBY — Get Both for ₹536/Year
Combine PMSBY with Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY):
- PMSBY: ₹20/year → ₹2 lakh accident cover
- PMJJBY: ₹436/year → ₹2 lakh life cover (any cause of death)
- Total: ₹456/year → ₹4 lakh total coverage
Both are available at any bank branch.
Helpline
Contact your bank branch for enrolment or claims. Insurance helpline: 1800-180-1111 (Toll Free)