PMSBY Scheme Details 2024:- Yojana Pradhan Mantri Suraksha Bima: The federal and state governments frequently devise a variety of programs for the underprivileged and economically disadvantaged groups. These programs, which offer social security to the populace, are numerous. We’re going to tell you about one such plan today. The Pradhan Mantri Suraksha Bima Yojana is the name of this program. This is a scheme for accident protection insurance where you can get an insurance cover of Rs 2 lakh for just Rs 20 a year.
What is PMSBY Scheme Details 2024?
The government introduced this program in 2015. Due to high premiums, a sizable portion of the populace is unable to benefit from the insurance program. In such a scenario, insurance facilities have reached even the most impoverished segment of the nation thanks to this unique government scheme. You can benefit from accident insurance up to Rs 2 lakh under this scheme for just Rs 20.
The following table discusses some of the Pradhan Mantri Suraksha Bima Yojana’s highlights:
|Date of Launching
|9th May 2015
|PM Narendra Modi
|Ministry of Finance
Also Read:- APY Scheme
An accident insurance policy that protects against accidental death and disability in the event of an accident
Each member pays Rs. 20/-per year. The premium is to be automatically withheld from the account holder’s bank or post office account on or before June 1st of each year, via the “Auto Debit” feature.
Coverage under PMJJBY is valid for a full year, from June 1 to May 31, following payment of the annual premium.
Accident cover assurance expiry
In the event of the following, the member’s accident coverage will be discontinued or limited:
- when one reaches the age of 70 (the age closest to one’s birthday).
- Bank account closure or insufficient funds to keep insurance in effect.
The maximum amount of insurance coverage is Rs. 2 lakh. if a member has multiple PMSBY accounts and the insurance company unintentionally receives the premium.
The Pradhan Mantri Suraksha Bima Yojana (PMSBY) offers insurance coverage to those from disadvantaged social groups. Insurance companies from the public and private sectors oversee the program. Below are some of the advantages that the program offers:
- All account holders of the Pradhan Mantri Suraksha Bima Yojana are eligible for a one-year life insurance policy worth Rs. 2 lakhs. This life insurance covers unintentional death and permanent disability.
- In the event of a partial disability, the beneficiary is given a life insurance policy worth Rs. 1 lakh.
- Anyone between the ages of 18 and 70 can participate in this program.
- The account holder’s nominee may benefit from the scheme in the event of the account holder’s death.
- Each member of the scheme is eligible to receive an annual premium of Rs. 12. This premium is automatically deducted on or before June 1st of each year in one installment.
The Pradhan Mantri Suraksha Bima Yojana is open to anyone who satisfies the requirements listed below:
- Applications for the scheme are open to anyone between the ages of 18 and 70.
- He or she needs to have a bank account that is connected to their phone number.
- The applicant must provide their Aadhaar details when submitting an application for the program. Their bank account will be connected to these Aadhaar details.
- A person may only use one bank account to enroll in the program if they have multiple accounts with the same or different banks. All bank account holders are eligible to receive the scheme benefits in the event of a joint account.
- Benefits under the claim will only be given to the nominee in Indian currency if the beneficiary is an NRI.
The Pradhan Mantri Suraksha Bima Yojana provides coverage for accidental deaths, murders, and disabilities brought on by natural disasters. However, the Pradhan Mantri Suraksha Bima Yojana does not cover any suicide deaths. The family members will not receive any benefits in the event of suicide.
Also Read:- PM Kisan Samman Nidhi Yojana
Who can take advantage of this PMSBY Scheme Details 2024?
A government insurance program called PMSBY is available to anyone between the ages of 18 and 70. If an individual passes away in an accident under this insurance plan, his family will receive Rs 2 lakh. Should an accident result in partial disability, the policyholder will receive compensation of one lakh rupees. The insured receives an annual insurance cover of Rs 20 lakh under this scheme.
How to Deposit Premium
To take advantage of this program, visit any bank and submit an application for PMSBY. After the application process for this scheme is finished, the funds will be automatically deducted from your account on June 1st of every year. This program is still in effect from June 1, 2023, to May 31, 2023. This insurance plan will automatically renew each month.
- To enroll in PMSBY offline, candidates can visit the official website at https://jansuraksha.gov.in/Forms-PMSBY.aspx or their bank branch where they currently have a savings account.
to obtain the form.
- After downloading the application, candidates can fill it out completely and send it, along with the necessary paperwork, to the bank.
- The customer will receive an acknowledgment slip/certificate of insurance upon successful submission.
PMSBY Scheme Details 2024 Online Registration:
- Step 1: To choose PMSBY, clients can go to any of the participating banks or health insurance providers.
- Step 2: The majority of reputable banks let their customers purchase insurance via online banking.
- Step 3: To sign up for the program, the subscriber must log into their online banking account.
- Step 4: The subscriber has the option to message the toll-free numbers of the banks and insurance companies using their registered mobile number.
PMSBY Scheme Details 2024 Login:
- Step 1: Enter your online banking credentials to log in.
- Step 2: Select the “Insurance” area.
- Choose the Pradhan Mantri Suraksha Bima Yojana in step three.
- Step 4: Decide which account to use to pay the insurance premium.
- Step 5: Select ‘Submit’.
How to Activate PMSBY SMS Facility
- Check out the website of your bank.
- Select the PMSBY section.
- Put in your Captcha code and account number.
- Select “Obtain One-Time Password” (OTP).
- Give all necessary information.
- Select “Submit.”
How to Activate PMSBY Scheme Details 2024 Internet Banking?
- Open your online bank account and log in.
- Then select “Insurance” to pay the premium from the selected account.
- Verify the information and check the details.
- Get the policy receipt by downloading it.
- Then select “Insurance” to pay the premium from the selected account.
PMSBY Scheme Details 2024 Renewal Online:
You can use the auto-debit feature to renew PMSBY. The process of renewing the insurance will involve an automated deduction of the premium from your bank account. There will be an annual renewal of the policy. The insurance is valid from June 1 to May 31. As a result, you need to renew your policy before May ends. You must submit a cancellation request to the relevant bank if you decide not to renew.
Also Read:- Stand UP India Scheme
How to Claim Process of PMSBY Scheme Details 2024?
The following is the procedure to claim for the benefits under PMSBY:
- The bank must be notified of the accident as soon as possible by the insured or, in the event of death, the nominee.
- It is necessary to download the claim form from the bank, the internet, or approved insurance companies. Complete the form as accurately as possible.
- Delivering the completed claim form to the bank branch is required within thirty days of the accident day.
- Together with the claim form, the original FIR, post-mortem report, death certificate, or, in the case of a disability, a disability certificate from a civil surgeon, must be submitted. It should also include a discharge certificate.
- When a claim is filed, the bank will review account information and forward the case to the insurance company within thirty days.
- After that, the insurer will confirm if the insured is on the list of insured people in the master policy.
- The claim will be handled by the bank within thirty days of receiving the required documentation.
- Following that, the insured’s or nominee’s account will receive the admissible claim.
- If the insured has not named a nominee, payment from the death claim will go to the legal heir. The bank has up to thirty days to finish the claim procedure.
- The bank has up to thirty days to finish the claim procedure.
Documents Required for PMSBY Scheme Details 2024:
It is necessary to correctly complete the Pradhan Mantri Suraksha Bima Yojana application form. The fields requiring completion are:
- Proof Id
- Aadhar Card
- Contact information
- Nominee details
- Application form (English, Hindi, Bengali, Marathi, Oriya, Telugu, Tamil or Gujarati).
All you need to send with your application is a copy of your UID card if it’s not linked to your savings bank account.
FAQs on PMSBY Scheme Details 2024
Q. What was the launch date of the Pradhan Mantri Suraksha Bima Yojana?
Ans- The late Arun Jaitley, the finance minister, made reference to it in his February 2015 budget speech. However, Prime Minister Narendra Modi formally introduced it in Kolkata on May 8.
Q. Does PMSBY cover natural death?
Ans- Natural disasters, PMSBY covers any death or disability. Suicide deaths are excluded, but murderous deaths are covered.
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