Pradhan Mantri Suraksha Bima Yojana – Government Of India

By Admin September 8, 2026 19

About the Scheme

Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a government-backed accident insurance scheme designed to provide financial protection to individuals in case of accidental death or disability. The scheme offers affordable insurance coverage so that eligible people can get support during unexpected accidents. An Accident insurance Scheme offering accident death and disability Cover for death or disability on account of an accident.

Premium

Under the Pradhan Mantri Suraksha Bima Yojana, the annual premium is ₹20 per member. The amount is collected directly from the policyholder’s linked bank or post office account through the auto-debit facility. The premium is generally deducted on or before 1 June for each annual insurance coverage period, subject to the scheme’s applicable rules.

Key Features

Key Hightlights	Features
Scheme Name	Pradhan Mantri Suraksha Bima Yojana (PMSBY)
Type of the Scheme	Government-backed accident insurance scheme
Annual Premium	₹20 per member per year
Coverage Period	One year, generally from 1 June to 31 May
Insurance Coverage	Provides Cover against Accident Death and Specified Disabilities
Premium Payment	Premium is Collected through an auto-debit facility
Linked Account	Bank Account or eligible Post Office account
Main Purpose	To provide affordable accident insurance protection and financial security

Benefits Of this Scheme

PMSBY – Accident Insurance Benefit

Types Of Claim	Insurance Benefit
Accidental Death	₹2 lakh payable to the nominee
Total And Irrecoverable Disability	₹2 lakh for loss of both eyes, both hands, both feet, or one eye along with one hand/foot
Partial Disability	₹1 lakh for total and irrecoverable loss of sight in one eye or loss of use of one hand or one foot

Low-Cost Accident Protection: Provides accident insurance at an affordable annual premium.
Financial Support: Helps reduce the financial burden on the family after a covered accidental death or disability.
Accidental Death Cover: The nominee can receive the applicable insurance benefit in case of accidental death.
Disability Protection: Provides financial assistance for eligible permanent disabilities caused by an accident.
Easy Premium Payment: The annual premium can be collected through the auto-debit facility from the linked account.
Yearly Renewable Cover: The insurance protection can be continued by renewing the scheme every year.
Accessible Insurance: Makes basic accident insurance protection available to eligible individuals at a low cost.
Family Financial Security: The scheme can provide a financial safety net to the nominee when an unexpected accident affects the insured person.

Eligibility of this Scheme

Age Limit	Individuals aged 18 to 70 years are eligible to join the scheme
Bank / Post Office	The applicant should have an eligible savings bank or Post Office account.
Active Account	The account should be active and capable of supporting the premium auto-debit facility.
Content for Auto Debit	The applicant must provide consent for the annual premium to be automatically deducted from the linked account.
One Policy	An individual can generally enrol through one eligible bank or Post Office account under the scheme.
Annual Renewal	The cover can be continued each year by paying the applicable annual premium.

When Does PMSBY Accident Death Cover End

The accident insurance protection under PMSBY may come to an end or be limited under certain circumstances:

Reaching of 70 Years of Age : The coverage normally ends when the member reaches 70 years of age, calculated based on the age nearest to their birthday.
Closure of Bank / Post office Account : If the account linked to the scheme is closed, the insurance cover will no longer continue.
Insufficient account Balance : If there is not enough balance in the linked account to pay the annual premium, the insurance cover may become inactive.
Multiple Account Enrollment : If a person enrols in PMSBY through more than one bank or post office account and premiums are deducted more than once by mistake, the insurance benefit will be limited to a maximum of ₹2 lakh.

Document Required for PMSBY Scheme

Aadhaar Card
Address Proof
Bank or Post Post office Account
Mobile Number
Nominee Details
Auto-Debit Consent
Other Required Document

Application Process Of PMSY Scheme

Step 1 : Check Eligibility: Make sure you meet the age and account requirements of the scheme.
Step 2 : Contact Your Bank/Post Office: Visit the participating bank branch or Post Office where you maintain an eligible account.
Step 3 : Request PMSBY Enrolment: Obtain the PMSBY enrolment or consent form and provide the required details.
Step 4 : Provide Nominee Details: Enter the nominee’s details correctly in the application form.
Step 5 : Give Auto-Debit Consent: Authorise the bank or Post Office to deduct the annual premium from your account.
Step 6 : Submit the Form: Submit the completed form through the bank/Post Office or use the digital enrolment facility provided by the participating institution, where available.
Step 7 : Premium Deduction: The applicable annual premium will be deducted from the linked account through auto-debit.
Step 8 : Confirmation of Coverage: Once enrolment and premium payment are successfully processed, the accident insurance cover will become effective according to the scheme rules.

Conclusion

Pradhan Mantri Suraksha Bima Yojana (PMSBY) is an affordable accident insurance scheme that helps provide financial protection against unexpected accidental death and disabilities. With a low annual premium and simple enrolment process, the scheme makes basic accident insurance accessible to eligible individuals. By joining PMSBY and keeping the linked account active, individuals can add an additional layer of financial security for themselves and their families.