Monday, 24 May 2021

Pradhan Mantri Suraksha Bima Yojana (PMSBY) Eligibility, Benefits, Application and Claim Forms Download

Pradhan Mantri Suraksha Bima Yojana (PMSBY) Eligibility, Benefits, Application and Claim Forms Download

Know About Pradhan Mantri Suraksha Bima Yojana (PMSBY)

PMSBY Scheme : This Scheme is available to people in the age group 18 to 70 years with a bank account who give their consent to join / enable auto-debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis. Aadhar would be the primary KYC for the bank account. The risk coverage under the scheme is Rs.2 lakh for accidental death and full disability and Rs. 1 lakh for partial disability. The premium of Rs. 12 per annum is to be deducted from the account holder’s bank account through ‘auto-debit’ facility in one installment.  

The scheme is being offered by Public Sector General Insurance Companies or any other General Insurance Company who are willing to offer the product on similar terms with necessary approvals and tie up with banks for this purpose.

Coverage of PM Suraksha Bima Yojana (PMSBY) :

Under Pradhan Mantri Suraksha Bima Yojana a death benefit of Rs. 2 lakh is available to the beneficiary of the policy in case of accidental demise of the insured person. Moreover, coverage of Rs. 2 lakh is provided in case of total disability like irrecoverable or total loss of both the eyes or loss of use of both the hands and feet, paralysis, etc. In case of partial disability, a life coverage of Rs. 1 lakh is provided to the insured person.

The coverage provided by PMSBY is in addition to any other insurance plan the subscriber has. As this is a pure life insurance plan the scheme does not offer any mediclaim i.e it does not offer any reimbursement of hospitalization expenses caused due to an accident.

Eligibility Criteria for PMSBY :
  • Minimum age to join in the Scheme PMSBY is 18 years.
  • Maximum age limit to avail the scheme is 70 Years.
  • Interested aspirants should have an savings account in under taken Banks.
  • The Savings Account should be linked with their Aadhaar.
  • If your Account is not linked with Aadhaar, a xerox copy of Aadhaar should attach to the application form.

Following are the Required Documents to Join PM Suraksha Bima Yojana (PMSBY)

Application Form : For submission of the duly filled PMBSY application form containing details such as name, contact details, Aadhaar number, and the details of the selected nominee.

Aadhaar Cad: In case of Aadhaar number not linked with State Bank Account, the PMSBY form can also downloaded from the government's Jansuraksha website. Download from the link availabe above in required documents section.

Know the Process of PMSBY  through SMS:
  1. The eligible subscriber is sent an SMS asking them to respond with 'PMSBY<space>Y'.
  2. In order to enroll the scheme, the subscribers is need to reply to the SMS 'PMSBY<space>Y'.
  3. In response the customers to the SMS an acknowledgement message is sent to the customer.
  4. For the further processing, the application must have the details of subscriber's name, marital status, and the date of birth etc.
  5. These details are taken directly from the participating bank account of the subsciber.
  6. In case the required details of the subsciber are not available in the banking records, the confirmation process will not be taken forward and the subscibers will have to apply physically from the nearest branch.
  7. If auto debit of the premium fails as a result of insufficient balance the coverage of the policy will cease but the policy will still be in force.
Process to Subcribe PMSBY through Net-Banking
  • Login to the internet banking account.
  • Click on Insurance.
  • Identify the account to be used for paying the premium amount.
  • Verify the details filled in the application form and click on confirm.
  • You will be provided with an acknowledgement which has a unique identification number.
  • Finally download receipt for further reference and note the stated reference number.
Know How to Claim PMSBY Scheme Benefits :
  • If  the Policy Holder meet with an accident and get damage of death/ Permanent Total/ Partial disability, then the Policy Holder / Nominee should visit the Bank where the PMSBY purchased
  • Obtain the Claim form or Download from the below link
  • Submit the Filled Application form along with relevant documents such as disability certificates issued by competent authority/ Death Certificate by the Nominee in case of Accidental Death
  • The Insurance company/ Bank will confirm the details submitted
  • Claim amount will be settled to the given account number