Pradhan Mantri Suraksha Bima Yojana (PMSBY) is being run by the Central Government to provide financial security to the weaker sections. In this life insurance up to 2 lakh rupees is available at a cost of 20 rupees per annum i.e. less than 2 rupees per month.
In this insurance scheme, in case of any death of the beneficiary, the nominee or the family gets a sum of Rs 2 lakh. No medical examination is required to buy insurance in this. Here we are telling you about this scheme…
In case of accidental death, assistance of Rs 2 lakh will be provided In case of permanent total disability due to accident like loss of both eyes or both hands or both legs, Rs 2 lakh will be paid. In case of permanent partial disability due to accident, such as loss of one eye, one arm or one leg, Rs 1 lakh will be given.
Who can benefit from it? Applicant must be at least 18 years of age. Also, only people up to a maximum of 70 years can avail this insurance. The insurance cover period is one year, which will be from 1st June to 31st May.
Where can you avail the scheme? Insurance under this scheme can be provided by public sector insurance companies. Apart from this, you can avail Pradhan Mantri Suraksha Bima Yojana from any branch of the bank wherever your bank account is. .
Auto debit facility is available To avail the benefits of PMSBY, you need to have a bank account. If you have more than one bank account, you can avail this scheme from only one bank. Every year on 31st May, a premium of Rs 20 will be deducted from your bank account through 'Auto Debit' facility.
If there is insufficient balance in the account for policy renewal, the policy will be cancelled. The policy can be reintroduced after receipt of premium. Registration period under PMSBY is from 1st June to 31st May. In case of accident, money should be claimed within 30 days.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
