PMSBY beneficiary should be in the age group between 18- 70 years & Already registered subscribers may continue this scheme until they attain 55 yr of age
Pradhan Mantri Suraksha Bima Yojana (PMSBY)
After the overwhelming response of Pradhan Mantri Jan Dhan Yojana, Prime Minister Sh. Narendra Modi on 9th May 2015 launched a series of social security schemes for the welfare of people working in the unorganized sector. These social security schemes of the government help cope up with uncertainties of life.
These schemes are as under:-
Pradhan Mantri Suraksha BimaYojana(PMSBY)
Pradhan Mantri Suraksha Bima Yojana PMSBY
PMSBY is a one year cover Personal Accident Insurance Scheme, which is to be renewed every year and offers protection against death or disability due to an accident.
PMSBY is offered & administered by Public Sector General Insurance Companies and other General Insurance companies.
Under PMSBY Scheme a sum of Rs.02.00 Lac is paid to the nominee of the subscriber on subscriber’s death due to an accident.
PREMIUM OF PRADHAN MANTRI SURAKSHA BIMA YOJANA: Rs. 12.00 per annum.
Benefits Offered by PMSBY:
Risk Coverage A Sum Assured of Rs.02.00 Lac is paid to the Nominee of the insured member on his/her Accidental death.
Stage of subscriber
|
Sum Insured
| |
a
|
Death
|
Rs. 02.00 Lac
|
b
|
Total and irrecoverable loss of both eyes or loss of use
of both hands or feet or loss of sight of one eye and loss
of use of hand or foot
|
Rs. 02.00 Lac
|
c
|
Total and irrecoverable loss of sight of one eye or loss
of use of one hand or foot
|
Rs. 01.00 Lac
|
NOTE: The cover is subject to exclusions of the policy:
SOME MAJOR EXCLUSIONS ARE
Intentional self-injury, suicide or attempted suicide whilst under the influence of intoxication liquor or drugs, Any loss arising from an act made in breach of law with or without criminal intent.”
|
Tax Benefit: The amount paid towards the PMJJBY policy Premium is eligible for tax deduction under section 80C of Income Tax Act.
Auto Debit: The Premium amount is automatically debited from subscribers saving account annually, and subscriber need not visit the bank branch every time for policy renewal.
ELIGIBILITY CRITERIA FOR PMSBY:
1. The beneficiary should be in the age group between 18- 70 years.
2. Already registered subscribers may continue this scheme until they attain 55 years of age.
3. The beneficiary should be a saving bank account holder in any of the participating banks.
4. Aadhar card is mandatory for PMSBY registration.
5. If multiple bank accounts held by an individual in one or different banks, the person would be eligible to join the scheme through one bank account only.
Terms and Conditions:
Renewal Premium of Rs. 12 (including GST) will be auto-debited from the Savings Account between May 25 and May 31 of every year. Customers, who desire to cancel the auto-renewal, need to submit such request before April 30 of the year. Renewal premium will be debited until the eligible age of the insured as per the scheme norms.
All Subscribers joining the scheme after 30th November 2015 will have to submit a self-certified medical certificate that he/she is not suffering from any critical illness as mentioned form.
All Bank account holders other than institutional account holders are eligible to register under this scheme.
Subscribers who exit the scheme at any time may re-join the scheme by paying the annual premium.
Joint account holders can enrol for the PMSBY scheme by submitting a separate request for enrolment at their Bank Branch.
Customers, who desire to cancel the auto-renewal, need to submit such request before April 30 of the year. Renewal premium will be auto-debited until the eligible age of the insured is as per the scheme norms.
If any information provided by a subscriber is found to be wrong, then membership of that member shall be cancelled from the date of joining the scheme and all premium paid stands forfeited.
.Complaints/Queries for Pradhan Mantri Suraksha Bima Yojana
National Toll-Free - 1800-180-1111 / 1800-110-001
STATES TOLL-FREE NUMBERS PMSBY
STATES TOLL-FREE NUMBERS PMSBY
Partners in Pradhan Mantri Suraksha Bima Yojana
Public Sector Banks
| ||
S.NO.
|
BANK NAME
|
WEBSITE
|
1.
|
Allahabad Bank
|
https://www.allahabadbank.in
|
2.
|
Andhra Bank
|
https://www.andhrabank.in
|
3.
|
Bank of Baroda
|
https://www.bankofbaroda.co.in
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4.
|
Bank of India
|
https://www.bankofindia.co.in
|
5.
|
Bank of Maharashtra
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https://www.bankofmaharashtra.in
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6.
|
Canara Bank
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https://www.canarabank.com
|
7.
|
Central Bank of India
|
https://www.centralbankofindia.co.in
|
8.
|
Corporation Bank
|
https://www.corpbank.com
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9.
|
Dena Bank
|
https://www.denabank.com
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10.
|
IDBI Bank Limited
|
https://www.idbi.com
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11.
|
Indian Bank
|
http://www.indianbank.in
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12.
|
Indian Overseas Bank
|
https://www.iob.in
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13.
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Oriental Bank of Commerce
|
https://www.obcindia.co.in
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14.
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Punjab & Sind Bank
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https://www.psbindia.com
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15.
|
Punjab National Bank
|
https://www.pnbindia.in
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16.
|
State Bank of India
|
https://www.sbi.co.in
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17.
|
Syndicate Bank
|
https://www.syndicatebank.in
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18.
|
UCO Bank
|
https://www.ucobank.com
|
19.
|
Union Bank of India
|
https://www.unionbankonline.co.in
|
20.
|
United Bank of India
|
http://www.unitedbankofindia.com
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21.
|
https://www.vijayabank.com
| |
Participating Insurance Companies in PMSBY
1. New India Assurance
2. United India Insurance
3. National Insurance Company
4. Reliance General Insurance
5. ICICI Lombard General Insurance
6. Cholamandalam MS General Insurance
7. Universal Sompo General Insurance
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