Here is the whole scheme in one place: what you get, who qualifies, how to apply, and what to check.
| Scheme | Pradhan Mantri Suraksha Bima Yojana (PMSBY) |
|---|---|
| Department | Department of Financial Services, Ministry of Finance, Govt of India |
| Benefit | Rs 2 lakh accident cover for death or total and permanent disability |
| Who can apply | Savings bank account holders aged 18 to 70 |
| How it is paid | Premium of Rs 20 a year, auto-debited from the bank account |
| Apply at | Your bank branch, net banking or jansuraksha.gov.in |
| Cost to apply | Free to apply, premium of Rs 20 a year |
Key points
- Cover is Rs 2 lakh for accidental death or permanent disability.
- The premium is Rs 20 a year, deducted from your bank account.
- Anyone aged 18 to 70 with a savings bank account can join.
- Claims must be filed quickly, so keep your nominee informed.
So what exactly does a member get?
If the member dies in an accident, the nominee gets Rs 2 lakh.
The cover also applies to total and permanent disability caused by an accident.
The premium is Rs 20 a year, which is about Rs 1.67 a month.
The premium is deducted automatically from your savings bank account, once a year.
Graphic: News Anek, from the facts in this report
Who can apply, and who cannot?
You must have a savings bank account in an Indian bank.
You must be between 18 and 70 years of age to join.
Your Aadhaar must be linked with the bank account.
Once you join, the cover renews each year as long as the premium is paid.
Why is this scheme useful, and what has changed?
PMSBY was launched in 2015 by the Government of India, along with PMJJBY and the Atal Pension Yojana.
It is run by the Department of Financial Services, Ministry of Finance.
The scheme aims to bring low-cost accident insurance to ordinary families across India.
Enrolment is now over 51 crore, and more than Rs 3,000 crore has been paid in claims.
How do you apply online, step by step?
Log in to your bank's net banking service and look for PMSBY under insurance schemes.
Read the terms, add your nominee details, and confirm your consent for the auto-debit.
Keep the confirmation message or the reference number safely.
You can also visit jansuraksha.gov.in for information on the scheme.
How do you apply at the bank, step by step?
Visit your bank branch with your savings account passbook and Aadhaar card.
Fill in the PMSBY enrolment form and name your nominee.
Sign the form and submit it at the counter.
The bank will debit Rs 20 from your account once a year for the premium.
What should you keep ready, and what if a claim is needed?
Keep your bank account number, Aadhaar card and nominee details ready.
If an accident happens, inform the bank quickly, preferably within 30 days.
You will need the death certificate, the hospital discharge slip and the bank premium statement.
Your nominee can contact the bank or the insurance company to start the claim.
Where can you get help, and what should you avoid?
For grievances, use the grievance option on jansuraksha.gov.in or contact your bank.
Never pay an agent in cash to join the scheme. Join only through your bank.
Be careful of callers who ask for your OTP or bank password. Banks never ask for these.
Always check with your bank or the official site for the latest rules and amounts.
Frequently asked questions
Can I join if I am over 70?
No. The scheme is open only to people aged 18 to 70. The cover ends at age 70.
Does the cover pay for natural death?
No. The cover is only for accidental death or accidental disability.
Is there a last date to join?
The scheme runs every year with auto-renewal. Check with your bank for the current enrolment window.
Can I join more than one bank account?
Each bank account can have its own enrolment. Check the rules with each bank.
Official links
This guide is based on official scheme rules. Rules and amounts can change, so always confirm on the official website before you apply. News Anek is not a government website.
