88 crore cumulative enrolments in Pradhan Mantri Suraksha Bima Yojana since its launch.
About the Scheme:
Pradhan Mantri Suraksha Bima Yojana (PMSBY) was launched on 9th May, 2015 with a view to enhance the level of insurance penetration in the country and to provide insurance cover to common people, especially poor and the under-privileged sections of the society.
Provisions:
Pradhan Mantri Suraksha Bima Yojana is available to people (Indian Resident or NRI) between 18 and 70 years of age with bank accounts. It has an annual premium of ₹12 (17¢ US) exclusive of taxes.
The GST is exempted on Pradhan Mantri Suraksha Bima Yojana.
The amount is automatically debited from the account.
This insurance scheme can have one year cover from 1 June to 31 May and would be offered through banks and administered through public sector general insurance companies.
In case of unexpected death or full disability, the payment to the nominee will be ₹2 lakh (US$2,800) and in case of partial Permanent disability ₹1 lakh (US$1,400).
Full disability has been defined as loss of use in both eyes, hands or feet. Partial Permanent disability has been defined as loss of use in one eye, hand or foot.
1.png)
