Pradhan Mantri Suraksha Bima Yojana (PMSBY)

The Union Government launched the PMSBY policy, a personal accident insurance scheme, in 2015. It provides death and disability cover, which you can renew annually. 

Public and private sector general insurance companies administer this insurance scheme in tie-up with participating banks. You can get this scheme with an affordable premium of as little as ₹20 per annum per member.

This Central Government accident insurance scheme enables people to get affordable insurance and access financial security. 

This plan assists family members in managing financial burdens if the insured gets hurt or is met with an unfortunate demise in an accident. Over 45 crore people have enrolled for this scheme as on July 31, 2025.

You can initiate the registration process for this scheme via the onboarding bank’s internet portal or an SMS facility. 

• Activate the Policy Using the SMS Facility

You will have to send an SMS to the onboarding bank’s number to raise an activation request. Reply ‘PMSBY Y’ to complete the process and receive an acknowledgement slip.

• Activate the Policy Using the Internet Banking Facility

While the exact steps may differ across banks, you need to follow this process:

1. Log in to your account and click on the ‘Insurance’ segment

2. Find and select the ‘PM Suraksha Bima Yojana’

3. Choose the account from which you want to make the premium payment

4. Make an online payment to receive the policy

This government-backed insurance scheme provides accidental death and disability coverage. Check out the details below:

As mentioned earlier, you can claim this insurance only in the case of accidental death and disability. However, the following are some exclusions under the PMSBY scheme:

• Death or injuries due to intentional self-harm

• Non-permanent or partial disabilities with irrecoverable loss

To enjoy coverage under this scheme, you need to qualify for certain parameters. 

• You must be between 18 and 70 years of age

• You must hold a bank account in the bank registered under the scheme

The general insurance companies offer this insurance policy through a network of participating banks and post offices. Check out a list of some of the registered banks:

• Allahabad Bank

• Axis Bank

• Bank of India

• Bank of Maharashtra

• Bharatiya Mahila Bank

• Canara Bank

• Central Bank

• Corporation Bank

• Dena Bank

• Federal Bank

• HDFC Bank

• ICICI Bank

• IDBI Bank

• IndusInd Bank

• Kerala Gramin Bank

• Kotak Bank

• Oriental Bank of Commerce

• Punjab and Sind Bank

• Punjab National Bank

• South Indian Bank

• State Bank of Hyderabad

• State Bank of India

• State Bank of Travancore

• Syndicate Bank

• UCO Bank

• Union Bank of India

• United Bank of India

• Vijaya Bank

The bank will deduct the renewal premium for the policy each year between May 25 and May 31. Your PMSBY insurance policy will renew automatically unless you provide a cancellation request.

The amount payable to secure this insurance coverage is relatively low as it is a government-backed policy. You can receive this policy by paying an annual premium of ₹20.

In the event of an unfortunate incident, you can file for an accidental claim under this scheme. Follow these simple steps: 

1. Submit the duly filled claim form in case of death or disability due to an accident within 30 days of the incident

2. Attach the supporting documents with the form

3. The bank will verify the claim request and send it to the partner insurer

4. The insurer will remit the amount after verifying your request, documents, and other details

Keeping the paperwork ready can simplify your claim process. The following are some of the documents you need:

• Proof of permanent disability or death due to an accident

• Aadhaar and PAN numbers of the insured member and the claimant

• KYC documents of the nominee, appointee, or the claimant

• First two pages of passbook or bank, post office account statement, or cancelled cheque of the account of the nominee/appointee/claimant 

• Advance receipt for discharge of claim, duly filled in and signed

The process to track your Pradhan Mantri Suraksha Bima Yojana can vary across banks. However, you may need to follow these basic steps:

1. Visit the onboarding bank’s website and log in to your account

2. Click on the ‘Insurance’ section and select the ‘PMSBY’ option

3. Enter your bank account number and application number

4. Click on the ‘Submit’ button to track the application status

The following are circumstances when your PMSBY policy will be terminated:

• When you attain the age of 70 years

• If you have closed the bank/post office account or have insufficient balance to keep insurance in force

• In case you make premium payment through two different accounts

Both these are government-backed life insurance schemes in India that offer affordable coverage. Check out how they differ:

To get a resolution for any complaint or query, you can contact the following national toll-free numbers:

• 1800-180-1111

• 1800-110-001