Launched in 2015 by the Government of India, the Pradhan Mantri Suraksha Bima Yojana is a health insurance scheme meant for all residents in the age bracket of 18 to 70. It can be availed by anyone possessing an active bank account.
You can purchase this scheme at a nominal fee of Rs. 12
and can avail of coverage of up to Rs.2 Lakhs. The policy will be in effect on purchase from the 1st of June to the 31st of May of the following year. You have the option to renew your policy annually.
Here are the key features of the PMSBY scheme.
Nominal amount of ₹12
Accidental Death Benefit
Linked savings bank account for auto-debiting of premiums
Long-term policy tenure and one-year policy options
Simple exit and entry measures
Tax Benefits
You can approach your local bank branch to subscribe to the PMSBY scheme. A bank account is a must as the premium gets auto-debited every month. In partnership with banks, Bajaj Allianz Health Insurance is one of the few insurance companies that offer services under this scheme.
The application form can also be downloaded from the government’s Jansuraksha website (https://jansuraksha.gov.in/Forms-PMSBY.aspx) and is available in multiple languages.
You can register for the PMSBY policy via the internet banking facility of your respective bank. It can also be done by sending a message to the onboarding organisation’s toll-free number.
Receive activation SMS
Reply to the message with ‘PMSBY Y’
Save the acknowledgement receipt
The bank will proceed to manage and verify the information from its end
Log in to the respective internet banking account
Click on insurance
Choose the account to be linked for paying the premiums
Check the details and confirm
Download the receipt and note down the reference number
Note: The bank will obtain nominee details such as their relationship with the insured, date of birth, etc., from the savings account. However, if this information is unavailable, the insured must visit the bank and provide the requested details.
Given below are the major benefits of the PMSBY scheme.
This health insurance policy offers accidental insurance coverage without spending a lot of money
The policy offers secured processing and continuous coverage
The insured gets the flexibility to either continue or discontinue the plan as per their wish
The premiums paid towards the plan can be claimed for tax deductions under Section 80C of the old income tax regime. Also, the sum of up to ₹1 Lakh received by the beneficiaries is non-taxable under Section 10(10D) of the Income Tax Act, 1961
The PMSBY policy offers the following coverage in case of unforeseen medical perils.
An accident leading to the insured’s demise |
₹2 Lakhs, given to the beneficiaries of the policy |
Permanent total disability |
₹2 Lakhs |
Permanent partial disability |
₹1 Lakh |
As explained earlier, the PMSBY policy is solely an accident and disability insurance cover. A few limitations when it comes to the cause of the death and nature of the disability are as follows.
The policy does not cover death due to suicide
Non-permanent disabilities (that is, partial disabilities without irrecoverable loss) are not covered
The applicant should fulfil the following eligibility criteria to apply for PMSBY.
Any person in the age group of 18 to 70 years with a savings account
Aadhaar Card must be furnished as a primary KYC document
If the Aadhaar Card is not linked to the savings bank account, a copy of the same should be attached to the PMSBY application form
The applicant can join the scheme only through a single bank account
In the case of a joint account, all account holders can join the scheme
If the applicant is a Non-Resident Indian (NRI), although eligible, the claim benefit will be paid to the insured/nominee in Rupees
Following is the list of banks that offer the PMSBY scheme enrollment at their branches.
Bank Names |
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Allahabad Bank |
Corporation Bank |
Karur Vysya Bank Ltd |
State Bank of India |
Andhra Bank |
Dena Bank |
Kotak Mahindra Bank Ltd |
State Bank of Mysore |
Axis Bank |
Federal Bank Ltd |
Lakshmi Vilas Bank |
State Bank of Patiala |
Bank of Baroda |
HDFC Bank Ltd |
Oriental Bank of Commerce |
State Bank of Travancore |
Bank of India |
ICICI Bank Ltd |
Punjab & Sind Bank |
Syndicate Bank |
Bank of Maharashtra |
IDBI Bank Ltd |
Punjab National Bank |
UCO Bank |
Bhartiya Mahila Bank |
Indian Bank |
Ratnakar Bank Ltd |
Union Bank of India |
Canara Bank |
Indian Overseas Bank |
South Indian Bank Ltd |
United Bank of India |
Central Bank of India |
Indusind Bank Ltd |
State Bank of Bikaner & Jaipur |
Vijaya Bank |
City Union Bank Ltd |
Jammu & Kashmir Bank Ltd |
State Bank of Hyderabad |
Yes Bank Ltd |
You can enable the auto-debit facility of paying the premium amount to auto-renew the policy. Once this amount is debited from your associated bank, the policy will automatically renew. The PMSBY scheme can be renewed annually and has a duration of 1st of June to 31st of May. It is advisable to renew the plan before the end of May.
Much like any government-initiated scheme, PMSBY is available to Indian citizens for a nominal price of ₹12 per year. This amount is deducted directly from the linked savings bank account of the insured on an annual basis. The premium is deducted on or before the 1st of June each year.
The claim process of PMSBY is completed in 5 easy steps.
Step 1: Inform the bank about the accident
Step 2: Submit the PMSBY claim form, obtained from the designated bank or the insurance company’s website, to the bank along with an FIR
Step 3: The bank will verify the documents and details, after which the case is forwarded to the insurance company within 30 days of claim submission
Step 4: After confirmation of the insured's name in the list of insured persons in the master policy, the claim is processed within 30 days of receiving the documents from the bank
The claim amount is then deposited into the nominee/insured’s account. If a nominee is not appointed, the amount is transferred to the legal heir after the insured's death. However, the legal heir has to submit the succession certificate. The maximum time allotted to the bank to finish the claim procedure is 30 days.
To enrol under PMSBY, you might need the following documents.
PMSBY Application Form: The insured has to fill out the PMSBY form, which is available in most Indian official languages. The details in the form include the insured’s name, Aadhaar card number, contact information, and nominee details.
Aadhaar Card: Ideally, the insured’s savings bank account should be linked to his/her Aadhaar card. If it is not linked, the insured must submit a copy of this card with the PMSBY application form.
The steps below will help you check the PMSBY’s application status:
Visit your bank’s official website
Log in to the internet banking portal
Visit the appropriate PMSBY section
Enter your account number
Enter the PMSBY application number
Click ‘Submit’
The application status will be displayed on the screen
The insurance cover will be terminated under the following circumstances.
Once you attain 70 years of age
If you do not have a minimum balance in your savings account to pay the premium, i.e. ₹12 per annum
If you have multiple accounts, the insurance premium amount will be auto-debited from one account, and the extra premium will be forfeited
If the auto-debit transaction for the premium price fails
If the insurance cover is terminated due to technical reasons or insufficient balance, it can be reinstated after the premium is paid in full
Check out the table below to find out the differences between Pradhan Mantri Jeevan Jyoti Bima Yojna (PMJJBY) and Pradhan Mantri Suraksha Bima Yojna (PMSBY).
Category |
PMJJBY |
PMSBY |
Overview |
The PMJJBY scheme offers coverage for the policyholder, in case of sudden death. |
The PMSBY scheme provides coverage for accidental death or disability. |
Scheme Type |
PMJJBY is a type of life insurance scheme. |
PMSBY is a type of accidental insurance scheme. |
Age of Beneficiaries |
18-50 years |
18-70 years |
Annual Premium |
The annual premium rate for an individual is ₹330 |
The annual premium rate for an individual is ₹12 |
Scheme Extension |
One can extend the premium payment period, which means the age of the beneficiaries is expandable up to 55 years. |
There is no possibility for an extension in the PMSBY scheme. |
Key Benefits |
Government offers ₹2 Lakhs compensation, in situations of the death of the beneficiary. |
Government offers ₹2 Lakhs compensation for accidental death and ₹1 Lakh disability caused to the beneficiary. |
State |
Toll-Free Customer Care Number |
Andaman and Nicobar Island |
1800-345-4545 |
Andhra Pradesh |
1800-425-8525 |
Arunachal Pradesh |
1800-345-3616 |
Assam |
1800-345-3756 |
Bihar |
1800-345-6195 |
Chandigarh |
1800-180-1111 |
Chattisgarh |
1800-233-4358 |
Dadra and Nagar Haveli |
1800-225-885 |
Daman and Diu |
1800-225-885 |
Delhi |
1800-1800-124 |
Goa |
1800-2333-202 |
Gujarat |
1800-225-885 |
Haryana |
1800-180-1111 |
Himachal Pradesh |
1800-180-8053 |
Jharkhand |
1800-345-6576 |
Karnataka |
1800-4259-7777 |
Kerala |
1800-425-11222 |
Lakshadweep |
1800-4259-7777 |
Madhya Pradesh |
1800-233-4035 |
Maharashtra |
1800-102-2636 |
Manipur |
1800-345-3858 |
Meghalaya |
1800-345-3658 |
Mizoram |
1800-345-3660 |
Nagaland |
1800-345-3708 |
Odisha |
1800-345-6551 |
Pondicherry |
1800-4250-0000 |
Punjab |
1800-180-1111 |
Rajasthan |
1800-180-6546 |
Sikkim |
1800-345-3256 |
Telangana |
1800-425-8933 |
Tamil Nadu |
1800-425-4415 |
Uttar Pradesh |
1800-102-4455 or 1800-223-344 |
Uttarakhand |
1800-180-4167 |
West Bengal and Tripura |
1800-345-3343 |
Complete loss of vision from both eyes or one eye, loss of two hands/feet, or any one hand or foot comes under total disability.
Here’s how the premium adds up to ₹12.
Insurance premium to the public sector or other general insurance companies - ₹10 p.a.
Reimbursement of expenses to the agent - ₹1 p.a.
Reimbursement of administrative expenses to the participating banks - ₹1 p.a.
There are over 28 participating banks that are the master policyholders under the PMSBY scheme.
It is an accident insurance coverage for death, total disability, or partial disability.
You can call 1800-180-1111 or 1800-110-001 for any queries.
Yes. The beneficiary can claim a compensation of ₹1 Lakh in case of any partial disability caused by an accident.
The beneficiaries can have multiple accident insurance policies and still enjoy the benefits of the Pradhan Mantri Suraksha Bima Yojna scheme.
The non-residents of India can become the beneficiary of the PMSBY if they hold a bank account in India and meet other eligibility parameters. However, the compensation amount will be released in Indian currency.
No, hospitalisation expenses are not reimbursed under the PMSBY scheme.
The maximum age to subscribe to PMSBY is 70 years.
No. Since the Pradhan Mantri Suraksha Bima Yojana is an accidental insurance scheme it covers death or permanent disability caused due to accidents. However, death due to natural causes like heart attacks are not covered under the policy.
No. As per PMSBY Scheme, the claim form needs to be submitted by the beneficiary within 30 days of the accident. The beneficiary also needs to submit copies of the FIR, post-mortem report, death/disability certificate, and discharge certificate (if applicable).