PM Suraksha Bima Yojana (PMSBY) — How to Apply & Benefits
Complete guide to PM Suraksha Bima Yojana. Get ₹2 lakh accidental death and disability insurance for just ₹20 per year. How to apply.
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What is PM Suraksha Bima Yojana (PMSBY)?
Pradhan Mantri Suraksha Bima Yojana is a government-backed accidental insurance scheme launched on 9th May 2015 offering coverage of ₹2 lakh for accidental death and permanent total disability, and ₹1 lakh for permanent partial disability — all for a premium of just ₹20 per year.
At just ₹20/year, PMSBY is the most affordable accident insurance in India. Every bank account holder aged 18-70 should enrol.
Who is Eligible?
- Age: 18 to 70 years
- Savings bank account in any participating bank
- Aadhaar linked to the bank account
- One enrolment per person (regardless of multiple bank accounts)
- Open to all Indian citizens
Coverage Details
| Event | Coverage Amount |
|---|---|
| Accidental Death | ₹2,00,000 |
| Permanent Total Disability (loss of both eyes, or both hands/feet, or one eye + one hand/foot) | ₹2,00,000 |
| Permanent Partial Disability (loss of one eye, or one hand/foot) | ₹1,00,000 |
Coverage Period: 1st June to 31st May each year (auto-renewed annually)
Documents Required
- Aadhaar Card (linked to bank account)
- Bank account passbook
- Nomination form (bank provides)
- Auto-debit consent
How to Enrol — Step-by-Step
Through Bank Branch
- Visit your savings account bank branch
- Fill the PMSBY enrolment form (one-page form)
- Provide nominee details (name, relationship)
- Give auto-debit consent for ₹20 annual deduction
- Receive SMS/confirmation of enrolment
Through Net Banking / Mobile Banking
- Log in to your bank's internet/mobile banking
- Go to "Insurance" or "Social Security Schemes"
- Select "PMSBY"
- Add nominee details and confirm auto-debit
- Done — coverage starts from 1st June
Through SMS (Select Banks)
Some banks allow enrolment via SMS keywords. Check with your bank.
Premium & Payment
| Detail | Information |
|---|---|
| Annual Premium | ₹20 (inclusive of GST) |
| Debit Date | Auto-debited on or before 31st May |
| Payment Mode | Auto-debit from savings account |
| Grace Period | Re-enrolment possible by paying premium with full year coverage |
How to File a Claim
- Nominee/family informs the bank branch about the accident
- Submit:
- Claim form (from bank)
- FIR/Police Report (for accidental death)
- Death certificate (for death claims)
- Disability certificate from government hospital (for disability claims)
- Post-mortem report (if applicable)
- Nominee's Aadhaar and bank details
- Bank forwards claim to the insurance company
- Claim processed and amount transferred to nominee's account within 30 days
Important Tips
- Pair with PMJJBY — PMSBY covers only accidents. For complete protection, also enrol in PM Jeevan Jyoti Bima Yojana (₹436/year for ₹2 lakh life cover). Total cost: ₹456/year for ₹4 lakh coverage.
- Keep ₹20+ balance in May — auto-debit happens around 31st May. Don't let it lapse.
- Update nominee whenever life circumstances change (marriage, children, etc.).
- Inform family members about this policy — they need to know to file a claim.
- Natural death is NOT covered — PMSBY only covers accidental death and disability. For natural death coverage, you need PMJJBY.
Frequently Asked Questions (FAQs)
Q1: Does PMSBY cover death by illness or disease?
No. PMSBY covers only accidental death and disability. Death due to illness, disease, suicide, or natural causes is not covered. For that, enrol in PMJJBY.
Q2: What counts as an "accident" under PMSBY?
Road accidents, drowning, fall from height, electrocution, snake bite, fire, and other unintentional external events. Death during commission of a crime or under influence of drugs/alcohol may not be covered.
Q3: Can I have both PMJJBY and PMSBY?
Yes, and you should! Together they cost ₹456/year and provide ₹2 lakh life cover (any cause of death) + ₹2 lakh accident cover.
Q4: Is there a medical examination required?
No. There is no medical examination for PMSBY enrolment.
Q5: What if I close my bank account?
Your PMSBY coverage automatically terminates if the linked bank account is closed. Re-enrol from another account if needed.
Q6: Can senior citizens (above 60) enrol?
Yes. Unlike PMJJBY which has a 50-year entry limit, PMSBY is available for all adults up to age 70.
Q7: Who provides the insurance?
Public sector general insurance companies (New India Assurance, National Insurance, Oriental Insurance, United India Insurance) or other general insurers tied up with the bank.
This guide is for informational purposes only. CitizenNest is an independent platform and is not affiliated with the Government of India. Verify details at jansuraksha.gov.in.
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