PMSBY scheme (Pradhan Mantri Suraksha Bima Yojana) {प्रधानमंत्री सुरक्षा बीमा योजना}

The Government of India launched the PMSBY scheme (Pradhan Mantri Suraksha Bima Yojana) in the 2015 Budget. It is an accident insurance scheme, and it covers accidental death, permanent disability, as well as partial disablement. The person whose age is between 18 to 70 years is eligible to apply for this scheme. There are a lot of accidents happens every day in India. Although rich people can take accidental insurance, poor people cannot afford to take accidental insurance due to the high cost of the premium. The government has taken this problem seriously and launched Pradhan Mantri Suraksha Bima Yojana for social security that can provide damages to the deceased’s family. This scheme has meagre premium payment so every people in the country, whether rich or poor can afford this accidental insurance.


This scheme was launched to provide accidental insurance to people who work in the high-risk category like mechanics, labourers, truck drivers that involves a lot of travelling.

  • This Pradhan Mantri Suraksha Bima Yojana has the cheapest insurance cover.
  • This scheme can cover both partial as well as permanent disability cover.
  • This scheme’s benefits can be taken by the people whose age is between 18 to 70 years as well as he must have a bank account.
  • The premium of this scheme is just Rs.12, excluding the service tax for a year.
  • The premium account will be automatically detected from the account of the beneficiary after the completion of one year.
  • If in any case the beneficially gets fully disabled or dies in an accident he will be paid Rs.2 lakh.
  • If the beneficiary suffers a partial permanent disability, then he will be paid Rs.1 lakh.
  • The Pradhan Mantri Suraksha Bima Yojana is a scheme to provide security to the people who are Below Poverty Line category.
  • Accidents do not see whether an individual is rich or poor. And the high-cost premiums are only taken by the rich as well as middle-income groups.
  • To provide this facility to the poor people as well as people who are below the poverty line, the government of India launched Pradhan Mantri Suraksha Bima Yojana.
  • If the beneficiary lost his both hand and eyes, then he will be paid up to Rs.2 lakh.
  • To get enrolled under the scheme, the Aadhaar card must be furnished as a KYC document.
  • PMSBY policy can provide benefits only before the age of 70 years.
  • The Pradhan Mantri Suraksha Bima Yojana was started in 2015, and by 2016, 124 million Indians had enrolled and get the benefit under the PMSBY scheme.

All the banks, as well as insurance companies, involve in Pradhan Mantri Suraksha Bima Yojana scheme, are mentioned below:

Banks under PMSBY Scheme

  • Allahabad Bank
  • Axis Bank
  • Bank of India
  • Bank of Maharashtra
  • Bharatiya Mahila Bank
  • Canara Bank
  • Central Bank
  • Corporation Bank
  • Dena Bank
  • Federal Bank
  • HDFC Bank
  • ICICI Bank
  • IDBI Bank
  • IndusInd Bank
  • Kerala Gramin Bank
  • Kotak Bank
  • Oriental Bank of Commerce
  • Punjab and Sind Bank
  • Punjab National Bank
  • South Indian Bank
  • State Bank of Hyderabad
  • State Bank of India
  • State Bank of Travancore
  • Syndicate Bank
  • UCO Bank
  • Union Bank of India
  • United Bank of India
  • Vijaya Bank

Participating Insurance

  • Bajaj Allianz
  • Cholamandalam MS
  • ICICI Lombard
  • National Insurance
  • New India Assurance
  • Reliance General Insurance
  • United India Insurance
  • Universal Sompo


The features of Pradhan Mantri Suraksha Bima Yojana are mentioned below:

  • The beneficiary must have renewable accidental death insurance each year.
  • The beneficiary has to pay Rs.12 annually for the premium. This premium excludes the service tax that is 14%.
  • If the beneficiary dies in an accident then up to Rs.2 lakh cover is payable to the Nominee of the subscriber.
  • The premium amount will be debited from the account of the beneficiary itself.
  • The beneficiary can get the benefit from this scheme up to 70 years by renewing every year.
  • The candidate is allowed to the scheme at any time as well as gets also enrolled any time.


The candidate has also availed presumption under Section 80C for the premium paid. The benefits of Pradhan Mantri Suraksha Bima Yojana are as follows:

If accident causes the beneficiary’s death.

Rs.2 lakh is paid to the nominee

If an accident make total and irrecoverable loss of use if both hands or eyes, loss of feet or loss of sight in one year as well as loss of use of a hand or foot.

          Rs.2 lakh is paid

If accident causes irrecoverable as well as total loss of one eye and loss of use of one hand or foot.

            Rs.1 lakh is paid


Eligibility Criteria

The eligibility criterion to get enrolled under Pradhan Mantri Suraksha Bima Yojana is mentioned below:

  • The minimum age of the candidate must be in 18 years.
  • The maximum age to avail benefits of this scheme is 70 years.
  • The candidate must have a bank account to register for this scheme.
  • The candidates have to link his bank account with Aadhaar card.
  • If the candidate has not attached his bank account with the Aadhaar card, then he has to attach a copy of the Aadhaar card with the application form.
  • If the candidate has more than one bank account, then also he is eligible to get enrolled through a single account.
  • The candidates have to premium that is Rs.12 yearly.
  • The amount of premium auto-debited from the beneficiary’s bank account.
  • The scheme is valid for one year if you want to continue then you have to renew your premium every year.
  • The main KYC document that is required is the Aadhaar card of the applicant’s.

How to Register for PMSBY Scheme?

  • To get register under Pradhan Mantri Suraksha Bima Yojana, the candidate has to visit one of the participating bank or insurance companies that are mentioned above.
  • There are a lot of banks among participating banks which allows candidates to take the policy through internet banking. The candidate has to log in to the Internet banking account and can enrol for the scheme.
  • The candidate can send a message with his registered mobile number at the toll-free number of insurance companies as well as banks.

Documents Required

To complete the process of registration under the Pradhan Mantri Suraksha Bima Yojana, the candidate has to show some documents. All the required documents are mentioned below:

  • Aadhaar number details
  • Contact information if the beneficiary
  • All details of the Nominee 
  • The candidate can fill the application form in English, Hindi, Bengali, Marathi, Oriya, Telugu, Tamil as well as Gujarati.
  • Aadhaar Card is a primary document that the candidate has to submit along with the application form.
  • If Aadhaar Card is not linked with your bank account, then the photocopy of the Aadhaar card is also to be attached to the application form.

Termination of Pradhan Mantri Suraksha Bima Yojana

The accidental cover of the beneficiary cover will be terminated on the following conditions, and the beneficiary will be paid no amount at that time.

  • When the beneficiary attains 70 years, his account will be terminated.
  • If the bank account of the beneficiary closed due to non-maintenance of the minimum balance, then he will be get rejected.
  • If the candidate is taking the benefit or covered with more than one bank account, then one account of the beneficiary will be restricted.
  • If the insurance cover rejected due to technical glitches the candidate can be reinstated after the premium is paid in full.
  • The banks will deduct the premium amount within a month.

Claim Process

The following process is required if the Nominee wants to claim for the benefits under PMSBY:

  • The Nominee must have to inform the bank or insurance company about the occurrence of the accident.
  • The Nominee is allowed to claim benefits from the bank or designated insurance companies by visiting the official website.
  • The form will be filled, and the completed claim form has to be submitted to the bank branch within 30 days from the death or occurrence of the accident.
  • The claim form must be attached with original FIR, post mortem report, death certificate. If there is a case of disability, then a disability certificate that is issued by a civil surgeon and with a discharge certificate.
  • The bank will verify all the details, and the insurance company will provide a claim within 30 days of the submission of the claim form.
  • The amount of claim will be remitted to the nominee’s or the insured’s account.
  • If the insured has not mentioned any nominee, then the entire amount of claim be paid to the legal heir.

The information is to furnish in the claim form:

  • Name of the insured
  • Address details of the insured
  • Name as well as the address of the bank branch.
  • Bank account number
  • Contact information of the insured like mobile number, phone number, email address as well as Aadhaar number
  • Nominee details like name, mobile or phone number, email address, bank account for electronic transfer as well as Aadhaar number.
  • Details about the accident (the day, date and time of occurrence, place of occurrence)
  • Name as well as address of the hospital
  • Details about documents that have been submitted

Frequently Asked Questions 

Q. What is the motive of the PMSBY scheme?

The PMSBY scheme is a personal accident insurance scheme. The scheme offers protection against death or disability due to accident.

Q. What is the minimum age needed to enrol under PMSBY scheme?

The minimum age needed to get enrolled in Pradhan Mantri Suraksha Bima Yojana is 18 years.

Q. What is the maximum age needed to get enrolled under this scheme?

The maximum age needed to get enrolled under Pradhan Mantri Suraksha Bima Yojana is 70 years.

Q. What benefits will the beneficiary’s Nominee receive in the case of the insured dies in an accident?

The Nominee will be paid an amount of Rs.2 lakh in the event the insured dies in an accident.

Q. Will the beneficiary get any benefit if he or she suffers total disability because of an accident?

Yes, the insured will be provided with an amount of Rs.2 lakh if he suffers a total disability because of an accident.