Pradhan Mantri Suraksha Bima Yojana

Prime Minister's Suraksha Bima Yojana

The government has announced the Pradhan Mantri Suraksha Bima Yojana for their protection for accident victims, premature death and disability under insurance schemes.

Pradhan Mantri Suraksha Bima Yojana is a type of accident insurance policy.  Under which the amount of insurance can be claimed in case of death or disability at the time of accident.  Pradhan Mantri Suraksha Bima Yojana will be valid for 1 year.  Which has to be renewed every one year.  Under the Pradhan Mantri Suraksha Bima Yojana, a sum insured of Rs. 2 lakh will be given in case of death and total disability and Rs. 1 lakh in case of partial disability.  A person of 18 to 70 years can join the Pradhan Mantri Suraksha Bima Yojana.  On joining the Pradhan Mantri Suraksha Bima Yojana, an amount of Rs 12 per year will have to be paid to the holder as premium.

Features of Pradhan Mantri Suraksha Bima Yojana:-

Eligibility for Pradhan Mantri Suraksha Bima Yojana-

Under the Pradhan Mantri Suraksha Bima Yojana, any person of Indian origin between the ages of 18 and 70 can take advantage.

To join the Prime Minister's Suraksha Bima Yojana, it is mandatory to have an Aadhar card.

If a consumer has one or more savings accounts, then he can join the Pradhan Mantri Suraksha Bima Yojana through any one savings account.

How to become a part of Pradhan Mantri Suraksha Bima Yojana -

To be a part of Pradhan Mantri Suraksha Bima Yojana, the holder consumer will first have to link his Aadhar card with the bank, after that before June 1 every year, a form will have to be filled and given to the bank.  After such a short process, the holder can easily take advantage of the Pradhan Mantri Suraksha Bima Yojana.

Under the Pradhan Mantri Suraksha Bima Yojana, there are two options to stay connected with the scheme -

First option : Holders fill the form before 1st June every year.  After submitting the form, the bank will deduct the premium amount from the account.

Option 2: Take a long term risk of 2 to 4 years.  If the holder opts for it, the premium amount will be automatically deducted from the account by the bank every year.

Under the Pradhan Mantri Suraksha Bima Yojana, the insured will have to pay Rs 12 per year as premium before 31st May.

Pradhan Mantri Suraksha Bima Yojana application form is available in Bengali, English, Gujarati, Hindi, Kannada, Marathi, Odia, Tamil and Telugu.

Benefits of Pradhan Mantri Suraksha Bima Yojna Under the Pradhan Mantri Suraksha Bima Yojana, the holder will be given accidental life insurance of Rs 2 lakh. In addition, an insurance of Rs 1 lakh will be given on partial loss.  For this sum insured, the holder will have to pay only Rs 12 per year i.e. Re 1 per month as premium.  In future, the Pradhan Mantri Suraksha Bima Yojana will be linked to the Pradhan Mantri Jan Dhan Yojana.

Being linked to this Pradhan Mantri Suraksha Bima Yojana bank, the holder will get rid of the worry of paying premium as this amount will be deducted directly from the account.  Pradhan Mantri Suraksha Bima Yojana is considered to be the cheapest insurance scheme ever.