PM Suraksha Bima Yojana: Insurance of Rs 2 lakh in just Rs 20, easy scheme for common people

PM Suraksha Bima Yojana: Pradhan Mantri Suraksha Bima Yojana (PMSBY) is an important social security scheme of the Government of India. The objective of this scheme is to provide accident insurance protection to the common people at very low premiums. Especially this scheme is beneficial for those people who are financially weak and want to provide financial security to the family in case of any accident.

objective of the plan

The main objective of Pradhan Mantri Suraksha Bima Yojana is to provide financial assistance to the individual and his family in the event of death or disability due to accident. This scheme is a strong step towards connecting every citizen of the country with insurance protection.

Insurance Cover and Benefits

Under this scheme the insured gets the following benefits:

• Insurance cover of ₹2 lakh in case of accidental death
• ₹ 2 lakh in case of total disability (loss of both eyes or both arms/legs) due to accident
• ₹1 lakh in case of partial disability (loss of one eye or one arm/leg)
• This amount is given directly to the beneficiary or his nominee.

Premium and Term

• The biggest feature of Pradhan Mantri Suraksha Bima Yojana is its low premium.
• Annual premium is only ₹20
• The insurance period is from 1 June to 31 May every year
• Premium amount is deducted from the bank account through auto-debit

PM Suraksha Bima Yojana: Eligibility

• To avail the benefits of this scheme:
• Applicant’s age should be between 18 to 70 years
• The person must have a bank account
• Aadhaar or mobile number should be linked to the bank account

PM Suraksha Bima Yojana: How to apply

It is very easy to apply for Pradhan Mantri Suraksha Bima Yojana:

• Contact your nearest bank branch
• Fill PMSBY form
• Join the scheme by giving consent
• Premium amount will be automatically deducted from the bank account

PM Suraksha Bima Yojana: Importance of the scheme

This scheme is very useful for the poor, laborers, farmers and people working in the unorganized sector. This insurance cover, available at a low premium, provides financial support to the family in case of any untoward incident and reduces future worries.

conclusion

Pradhan Mantri Suraksha Bima Yojana is a simple, affordable and effective insurance scheme. By spending only ₹ 20 annually, any person can create a bigger security cover for himself and his family. This scheme is truly a great example of “less spending, more security”.

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