What is Pradhan Mantri Suraksha Bima Yojana PMSBY?

What is Pradhan Mantri Suraksha Bima Yojana PMSBY? It is a government-backed accident insurance scheme in India designed to provide affordable personal accident coverage to individuals aged 18 to 70 years who have a linked savings bank or post office account.

This scheme ensures financial security against accidental death, total permanent disability, or partial permanent disability, making it particularly useful for low-income earners.

Key Features of PMSBY

Understanding what is Pradhan Mantri Suraksha Bima Yojana PMSBY helps you know why millions rely on it:

• Covers accidental death or total permanent disability with a sum insured of Rs. 2 lakh.
   
• Provides Rs. 1 lakh coverage for partial permanent disability.
   
• One-year coverage period, renewable annually through a nominal premium of Rs. 20, auto-debited from your bank account.
   
• Accidents covered include external, violent, and visible causes, including natural calamities; suicide is excluded.
   
• No medical examination is required for enrolment, making the scheme simple and accessible.
   
• Claims can be made by the nominee or insured with the required documents within the claim period.

Benefits of PMSBY

Knowing what is Pradhan Mantri Suraksha Bima Yojana PMSBY offers these advantages:

• Extremely affordable personal accident coverage.
   
• Financial safety net for families in case of accidental death or disability.
   
• Simple enrolment and renewal via a bank or post office account.
   
• Annual renewal ensures continuous coverage year after year.
   

 How to Enrol and Renew

• Enrol through your linked savings bank or post office account.
   
• The annual premium of Rs. 20 is auto-debited for renewal.
   
• Understanding what is Pradhan Mantri Suraksha Bima Yojana PMSBY ensures you maintain uninterrupted accident insurance coverage without any hassle.
   

Stay Financially Secure with Shriram Life

Knowing what is Pradhan Mantri Suraksha Bima Yojana PMSBY allows you to protect yourself and your family at a minimal cost. With easy enrolment, annual renewal, and reliable accident coverage, PMSBY ensures financial peace of mind for millions of Indians.