Pradhan Mantri Suraksha Bima Yojana is a government-led accident insurance scheme that aims to provide accident insurance to all Indians in the unfortunate event death or permanent disability on account of an accident.
The scheme would be offered / administered through Public Sector General Insurance Companies (PSGICs) and other General Insurance companies willing to offer the product on similar terms with necessary approvals and tie up with Banks for this purpose. Participating banks will be free to engage any such insurance company for implementing the scheme for their subscribers.
All saving bank account holder in the age of 18 to 70 in participating banks are eligible to join. In case of multiple bank accounts, only one account can be used. Aadhar card would be the primary KYC in this scheme.
Terms of insurance and payment
The cover shall be for one year from 1st June to 31st May for each year. Payment will be auto debited from the assigned account. For initial year of 2015, Payment and enrollment is extended to 31st August, 2015.
Rs. 12 per annum per member. If the auto debit takes place after 1st of june then the cover shall commence from the first day of the month following the auto debit.
|a.||Death||Rs. 2 lakh|
|b.||Total and irrecoverable loss of both eyes or loss of use of both hands or feet or loss of sight of one eye and loss of use of hand or foot||Rs. 2 lakh|
|c.||Total and irrecoverable loss of sight of one eye or loss of use of one hand or foot||Rs. 1 lakh|
Main banks webpages for such yojna:-