Pradhan Mantri Suraksha Bima Yojana (PMSBY) is being run by the Central Government to provide economic security to the weaker section. In this, life insurance of up to Rs 2 lakh is available at an expense of Rs 20 annually i.e. less than Rs 2 per month.
In this insurance scheme, in case of any death of the beneficiary, the nominee or family gets an amount of Rs 2 lakh. In this, no medical examination is required to buy insurance. Here we are telling you about this scheme…
Assistance of Rs 2 lakh will be given in case of death in accident 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 like loss of use of one eye, one hand or one leg, Rs 1 lakh will be given.
Who can take advantage of it? The age of the applicant must be at least 18 years. At the same time, only people up to a maximum of 70 years will be able to avail the benefit of this insurance. The period of insurance cover is one year, which will be from 1st June to 31st May.
Where can you avail the benefits of the scheme? Insurance under this scheme can be done through public sector insurance companies. Apart from this, you can avail the benefit of Prime Minister Suraksha Bima Yojana from any branch of the bank. Wherever you have a bank account.
Auto debit facility is available To avail the benefits of PMSBY, you must 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 not sufficient balance in the account for policy renewal, the policy will be canceled. The policy can be reinstated upon receipt of premium. The enrollment period under PMSBY is from June 1 to May 31. In case of an accident, the money should be claimed within 30 days. Click here for more information
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