Pradhan Mantri Suraksha Bima Yojana [ Detailed Analysis (CA/GS) - Government Schemes ]
To doctor the lack of security in the lives of general and poor people, the Prime Minister of India has introduced the PMSBY scheme in Kolkata on 9th May 2015, simultaneously with two other insurance- and pension-related schemes. It is an accidental death and disability insurance scheme.
Two aspects of PMSBY that make its contrasting are offering and access.
Suraksha Bima Yojana Beneficiaries
Eligibility for Pradhan Mantri Suraksha Bima Yojana
Premium of Pradhan Mantri Suraksha Bima Yojana
- The individuals below the poverty line are free to get registered to the policy with modest terms and conditions.
- Every member of this scheme has to pay an amount of 12 rupees on a yearly basis as the premium fee for this Suraksha Bima plan.
- From the savings bank account of the policy holder, sum of 12 rupees will be deducted and that too on yearly basis in the month of june with an auto-debit facility.
Benefit Cover Termination
- On completing 70 years of age or the nearest birth day age.
- The account is closed on lack of balance.
- If a candidate is covered by more than one account and pays premium intentionally, insurance cover will be restricted to only one and the premium is liable to be forfeited.
- Inform the respective bank regarding the accident.
- Within 30 days after incidence, claim form should be submitted.
- FIR, death certificate, post mortem report, disability certificate (if any) and the discharge certificate are to be submitted.
- Insurance amount to nominee or legal heir will be provided after the proper verification by bank.
- Published/Last Modified on: September 22, 2016