Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a life insurance cover scheme of the government. This scheme is launched in the year 2015. The Pradhan Mantri Suraksha Bima Yojana provides an accidental life insurance cover under this scheme. This scheme, Provides Suraksha to all people who are disabled, or partially disabled. This scheme is launched by the finance ministry of India. Any can register themselves into this but should have to meet the age criteria of this list, which is between 18-70 years. He/ she should also have it’s saving bank account. This is the most affordable scheme of the government, which you can purchase at the price rate of Rs. 20 Per annum/-.
Brief Description of Project
| Name of Scheme | Pradhan Mantri Suraksha Bima Yojana |
| Scheme Benefits | All people get an amount of 2 lakh in case of death in the accident and 1 lakh Rs. in case of injury in the accident. |
| Objective | Every people should be aware of life insurance benefits |
Aim of the PMSBY Scheme
The PMSBY scheme is launched by the government for promoting life insurance policies among all Indians because Indians are not aware of the life insurance coverage policy benefits. In our country, people think all insurance policies are a waste of things. Through, this policy government want to encourage the people of our country to purchase a life insurance policy. It’s an accident or death insurance policy of a government by which anyone who dies or has an accident will give the insurance money to its nominee.
Beneficiaries of the PMSBY Scheme:
- The common people of the country are beneficiaries of this scheme.
- People belong to underprivileged sections of society.
All the people of the society get the benefit of this scheme the subscriber can also avail deduction under Section 80C for the premium paid. The sum insured received up to Rs.1 lakh is tax-free under Section 10(10D).
Benefits of Pradhan Mantri Yojana Suraksha BimaYojana
The benefits of this scheme are given as follows.
- This scheme is an accidental dead insurance scheme through this scheme government wants to enhance the knowledge or importance of accidental insurance purchases for people’s life. This scheme has a lot of benefits. All the help of the scheme are:
- If someone who is the subscriber or purchaser of this scheme dies in the project, then the nominee mentioned in the subscriber’s documents will receive the number of rupees 2 lakh.
- If the subscriber of the scheme meets an accident and if he gets an injury which is unrecoverable like he loses both hands or both feet or anything like these irrecoverable injuries then he will be given an amount of 2 lakh rupees.
- If a person in an accident loses only his or her hand or foot, he will be given several rupees of 1 lakh. The amount which is given up to 1 lakh is free of tax.
Features of this Pradhan Mantri Suraksha Bima Yojana:
Every scheme which is launched by the government has its own feature this scheme has its own features. The features of this scheme are all mentioned below:
- The accidental death insurance given under this scheme is renewable each year.
- The annual Premium which is charged in this scheme is 12 rupees. The premium which is authorised under the scheme is service tax-free.
- A number of rupees 2 lakh will be given to the subscriber’s nominee if he /she dies or is met with an accident.
- The facility of premium auto debited is also given in this scheme. So, in this way amount is debited from the government or auto-paid y the government.
- Every subscriber of the scheme gets an option of renewing the policy every year or he can choose the long-term insurance plan of the scheme.
- In this scheme, everyone is given a choice to exit from the scheme at any point in time or you have an option to login into the scheme at any point in time.
PMSBY Scheme Eligibility Criteria :
The eligibility criteria is an essential part of every scheme. If you want to enter or avail of any benefits of the Gov. Scheme then first you should have to meet up with their qualification.
- The minimum required under this scheme is of 18 years. And the maximum age which is required under the scheme is 70 years. So, you have to be under this age criteria then the next process starts under the scheme.
- A savings bank is also an essential part of the scheme because without the bank you can not get the benefits of this scheme.
- Your Aadhaar card should be linked to your Bank account. Now, this is common that your Aadhaar card should be linked to your account.
- If your account is not linked then you can attach a copy of your Aadhaar card with your Application form.
- If an applicant has more than one account then you can only be able to apply through one account only.
- The amount to be paid in the scheme is Rs. 12 years. This is a small amount which is to be paid by an individual during the scheme.
- The main or necessary document required for your verification in this scheme is an Aadhaar card.
Documents Required in this scheme:
In every scheme government or any, you apply for anything documents are the necessary part. So, before applying for this scheme you should have to confirm whether you should have all these documents with you or not otherwise you regret it.
So, for your convenience I have mentioned the list of necessary documents required For this scheme:
- Small passport-size photographs will be required. Photographs are an essential part of the documentation process.
- An Aadhaar card is an essential part of the documentation. In our country, an Aadhaar card becomes an essential part of the country without an Aadhaar card no one permits you.
- Contact information is the most important part of the scheme. If you do not mention a number in the form. You are required to have a phone no. into the scheme.
- Nominee details are an art in the form where you have to mention the details of a person who is very close to whom you trust, that person’s name or his information you have to fill in this Nominee section because After your death. The benefit of the scheme will be given to that person.
- Bank Passbook is also a necessary thing which may or may not is required under this scheme.
Benefits Claim Procedure Under PMSBY Scheme:
The procedure is given below for anyone who is claiming benefits under this scheme.
- In case of the Death of a subscriber, the nominee or the family must have to inform the bank about the subscriber’s death.
- To claim this accident benefit the nominee or the subscriber’s family must submit a claim form under this accident.
- But do not submit this claim form without the Fir report, and death certificate in disability case submit the disability form that the civil surgeon issues. A discharge should also be attached to this form.
- The bank authorities verify this subscriber account details and then forward this form to the insurance branch in 30 days.
- The claim process will be then started within 30 days of the time period.
- Within these 30 days period, you will be called by the insurance company to collect the amount.
Online ways to register yourself into the PMBSY scheme:
- Those who want to apply to the scheme must go to the banks or approach the insurance companies which are given loans to the insurance under PMSBY.
- Many banks and insurance companies also give an option of doing internet banking from your mobile.
- The applicant must first log in to the account and then enrol on the scheme.
- You can also send phone calls to banks or insurance companies directly on their toll-free numbers.
Disclaimer
In the above article, we have given information about the Pradhan Mantri Suraksha Yojana (PMSBY) scheme. We try to answer all of your queries in the above article, we also cover all the necessary headings the under this scheme which are required to give information about the scheme. If you have doubts about the scheme. Then comment us in the comment box and your queries from us. We try to answer your query as soon as possible. You can also visit the government website where you can see or know the full information about the scheme. The Official website of PMSBY Scheme through clicking on this Pmsby.
Thanks for Reading the Article.
Frequent Queries Related PMSBY Scheme
Full form of this PMSBY?
The full form of the PMSBY scheme is Pradhan Mantri Suraksha Yojana.
