Pradhan Mantri Suraksha Bima Yojana | Register | Features | Benefits | Eligibility | Enrolment | Achievements | Claim Settlement |
The Pradhan Mantri Suraksha Bima Yojana is a government-backed accident insurance scheme that covers accidental death, permanent disability, and partial disablement. Individuals between 18 years and 70 years are eligible to apply for this scheme.
A government-sponsored accident insurance program, the Pradhan Mantri Suraksha Bima Yojana, provides coverage for accidental death, total and partial disability, as well as permanent disability. A person must be between the ages of 18 and 70 to apply for this program. Anyone between the ages of 18 and 70 may participate in this program, but they must have a bank account. The scheme's yearly premium, without including service tax, is Rs.20. The premium payment is automatically deducted from the scheme holder's bank account. If the subscriber is totally incapacitated or dies in an accident, Rs.2 lakh is paid to the nominee. If the subscriber has an accident and experiences a partial permanent disability, they will receive Rs.1 lakh.
Ways to Register Online for PMSBY?The customers can approach either one of the participating banks or insurance companies to opt for PMSBY
Most of the reputed banks allow the subscribers to take the policy through internet banking
The subscriber will have to log in to the Internet banking account and enroll for the scheme
Subscriber can also send a message through their registered mobile number to the toll free numbers of the banks and the insurance companies.
How to Login PMSBY Online?
Here's how to login PMSBY Online:
How to Enroll and Register for PMSBY Offline?
You can enroll yourself in the PMSBY by going to a bank or insurance firm that is connected to it. The Pradhan Mantri Suraksha Bima Yojana form, popularly known as the PMSBY form, can be downloaded from the Jansuraksha website of the government. It comes in a variety of languages.
Features of the PMSBY Scheme
Benefits of PMSBY Scheme
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.
Eligibility
A government-sponsored accident insurance program, the Pradhan Mantri Suraksha Bima Yojana, provides coverage for accidental death, total and partial disability, as well as permanent disability. A person must be between the ages of 18 and 70 to apply for this program. Anyone between the ages of 18 and 70 may participate in this program, but they must have a bank account. The scheme's yearly premium, without including service tax, is Rs.20. The premium payment is automatically deducted from the scheme holder's bank account. If the subscriber is totally incapacitated or dies in an accident, Rs.2 lakh is paid to the nominee. If the subscriber has an accident and experiences a partial permanent disability, they will receive Rs.1 lakh.
Ways to Register Online for PMSBY?The customers can approach either one of the participating banks or insurance companies to opt for PMSBY
Most of the reputed banks allow the subscribers to take the policy through internet banking
The subscriber will have to log in to the Internet banking account and enroll for the scheme
Subscriber can also send a message through their registered mobile number to the toll free numbers of the banks and the insurance companies.
How to Login PMSBY Online?
Here's how to login PMSBY Online:
- Log in with your internet banking credential
- Click on 'Insurance' section
- Select Pradhan Mantri Suraksha Bima Yojana
- Select the account through which you will pay the insurance premium
- Click on 'Submit'
How to Enroll and Register for PMSBY Offline?
You can enroll yourself in the PMSBY by going to a bank or insurance firm that is connected to it. The Pradhan Mantri Suraksha Bima Yojana form, popularly known as the PMSBY form, can be downloaded from the Jansuraksha website of the government. It comes in a variety of languages.
Features of the PMSBY Scheme
- One can purchase the policy for a nominal amount of ₹12.
- The policy's beneficiaries will receive the death benefit after the insured’s unfortunate demise in an accident.
- The health insurance premium amount is auto-debited from the linked savings bank account.
- Applicants can choose between a long-term policy or an annually renewable plan as per convenience.
- The exit and re-entry measures are simple to understand.
- It offers several tax benefits.
Benefits of PMSBY Scheme
- This health insurance policy offers accidental insurance coverage without spending a lot of money.
- The policy provides financial aid to the dependents if the insured dies in an accident.
- With the auto-debit option, the insured no longer has to worry about missing the premium due dates.
- The policy offers secure 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.
Eligibility
Individuals in the age group of 18-50 years having a savings bank or a post office account are entitled to enroll under the scheme. People who join the scheme before completing 50 years of age can continue to have the risk of life covered up to age of 55 years upon payment of premium.
Enrolment
Enrolment
Enrolments under the scheme can be done by visiting the branch/ BC point or website of the bank of the account holder or at the post office in case of post office savings bank account. The premium under the scheme is auto debited every year from the subscriber’s bank account based on a one-time mandate from the account holder. Detailed information about the scheme and the forms (in Hindi, English and Regional languages) are available on https://jansuraksha.gov.in
Achievements
Achievements
As on 27.04.2022, the cumulative enrolments under the scheme have been more than 12.76 crore and an amount of Rs. 11,522 crore has been paid for 5,76,121 claims.
CLAIM SETTLEMENT
The death claim will be settled by the designated office of the insurance company concerned. The following processes are undertaken by various stakeholders:
Nominee
The nominee needs to approach the bank wherein the deceased member had the 'savings bank account' through which he/she was covered under the PMJJBY, and submit the death certificate of the account holder.
The nominee then needs to collect a claim form and discharge receipt from the bank or any other designated source such as insurance company branches, hospitals and insurance agents including designated websites.
Finally, the nominee needs to submit the duly completed claim form, discharge receipt and death certificate, along with a photocopy of the cancelled cheque of the nominee's bank account (if available) or account details of the bank where the deceased member had the 'savings bank account' through which he/she was covered under the PMJJBY.
Bank
Bank needs to verify the claim form & nominee details from the records and submit the following documents to the designated office of the insurance company concerned:Claim form duly completed
Death certificate
Discharge receipt
Photocopy of the cancelled cheque of the nominee (if available)
Maximum time limit for the bank to forward a duly completed claim form to the insurance company is 30 days from submission of the claim.
Important links
Official website
Application Form
Claims Form
State Wise Toll-Free Numbers
Insurance Company
Verify that the claim form is complete and if the claim is admissible, the designated office of the insurer shall check whether the member's coverage is in force and no death claim settlement has been imposed for the member through any other account. In case any claim has been settled, the nominee shall be intimated accordingly with a copy marked to the bank.
In case the coverage was in force and no claim has been settled for the said member, payment shall be released to the nominee's bank account and a communication shall be sent to the nominee with a copy marked to the bank.
Maximum time limit for the insurance company to approve claim and disburse money is 30 days from the receipt of claim from the bank.
CLAIM SETTLEMENT
The death claim will be settled by the designated office of the insurance company concerned. The following processes are undertaken by various stakeholders:
Nominee
The nominee needs to approach the bank wherein the deceased member had the 'savings bank account' through which he/she was covered under the PMJJBY, and submit the death certificate of the account holder.
The nominee then needs to collect a claim form and discharge receipt from the bank or any other designated source such as insurance company branches, hospitals and insurance agents including designated websites.
Finally, the nominee needs to submit the duly completed claim form, discharge receipt and death certificate, along with a photocopy of the cancelled cheque of the nominee's bank account (if available) or account details of the bank where the deceased member had the 'savings bank account' through which he/she was covered under the PMJJBY.
Bank
Bank needs to verify the claim form & nominee details from the records and submit the following documents to the designated office of the insurance company concerned:Claim form duly completed
Death certificate
Discharge receipt
Photocopy of the cancelled cheque of the nominee (if available)
Maximum time limit for the bank to forward a duly completed claim form to the insurance company is 30 days from submission of the claim.
Important links
Official website
Application Form
Claims Form
State Wise Toll-Free Numbers
Insurance Company
Verify that the claim form is complete and if the claim is admissible, the designated office of the insurer shall check whether the member's coverage is in force and no death claim settlement has been imposed for the member through any other account. In case any claim has been settled, the nominee shall be intimated accordingly with a copy marked to the bank.
In case the coverage was in force and no claim has been settled for the said member, payment shall be released to the nominee's bank account and a communication shall be sent to the nominee with a copy marked to the bank.
Maximum time limit for the insurance company to approve claim and disburse money is 30 days from the receipt of claim from the bank.
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