Learn everything about Pradhan Mantri Suraksha Bima Yojana (PMSBY), including eligibility, benefits, premium, documents required, claim process, and how to apply. Easy guide in simple English.
Pradhan Mantri Suraksha Bima Yojana (PMSBY) 2026
Life is uncertain. An accident can happen at any time. Many families face financial problems after an accident because they do not have insurance. To help people, the Government of India started the Pradhan Mantri Suraksha Bima Yojana (PMSBY).
This scheme provides accident insurance coverage of up to ₹2 lakh at a very low yearly premium. It is one of the most affordable insurance schemes available in India.
In this article, you will learn everything about the Pradhan Mantri Suraksha Bima Yojana, including its benefits, eligibility, premium, documents required, claim process, and application method.
What is Pradhan Mantri Suraksha Bima Yojana?
Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a government-backed accident insurance scheme launched to provide financial support to Indian citizens.
Under this scheme, if the insured person dies due to an accident or becomes permanently disabled because of an accident, the insurance company provides financial assistance to the family or the insured person.
The premium is very low, making it affordable for almost everyone.
PMSBY Scheme Highlights
- Scheme Name: Pradhan Mantri Suraksha Bima Yojana (PMSBY)
- Launched By: Government of India
- Scheme Type: Accident Insurance
- Annual Premium: ₹20 per year
- Maximum Insurance Cover: ₹2 Lakh
- Age Limit: 18 to 70 Years
- Payment Mode: Auto Debit from Bank Account
- Application Mode: Online and Offline
- Beneficiaries: Indian Citizens
Benefits of Pradhan Mantri Suraksha Bima Yojana
Accident Death Benefit
If the insured person dies due to an accident, the nominee receives ₹2 lakh.
Permanent Total Disability
If both eyes are lost, both hands or both legs stop working, or one eye and one limb are permanently lost due to an accident, the insured person receives ₹2 lakh.
Permanent Partial Disability
If one eye is lost or one hand or one leg becomes permanently disabled due to an accident, the insured person receives ₹1 lakh.
Very Low Premium
The annual premium is only ₹20, making it one of the cheapest insurance schemes in India.
Easy Enrollment
Anyone with a savings bank account can easily join the scheme.
Who Can Apply?
To join PMSBY, applicants must satisfy the following conditions.
- Must be an Indian citizen.
- Age should be between 18 and 70 years.
- Must have a savings bank account.
- Bank account should support auto debit.
- Aadhaar should be linked with the bank account, if required by the bank.
Premium Details
The premium for PMSBY is ₹20 per year.
The amount is automatically deducted from your bank account every year after enrollment.
Because the premium is very low, almost every family can afford it.
Insurance Coverage
- Accidental Death: ₹2 Lakh
- Permanent Total Disability: ₹2 Lakh
- Permanent Partial Disability: ₹1 Lakh
Documents Required
- Aadhaar Card
- PAN Card (if required)
- Savings Bank Account
- Mobile Number
- Passport Size Photograph (if required by the bank)
How to Apply for Pradhan Mantri Suraksha Bima Yojana?
Offline Process
- Visit your bank branch.
- Ask for the PMSBY application form.
- Fill in all the required details.
- Submit the form with the required documents.
- Give consent for auto debit.
- After verification, your insurance becomes active.
Online Process
Many banks also allow online enrollment.
Steps:
- Log in to your bank’s internet banking or mobile banking.
- Go to the Insurance or Government Schemes section.
- Select Pradhan Mantri Suraksha Bima Yojana.
- Confirm your details.
- Accept auto debit.
- Submit the application.
Claim Process
If an accident happens, the nominee or insured person should inform the bank or insurance company as soon as possible.
The following documents are usually required.
- Claim Form
- Death Certificate (if applicable)
- FIR or Police Report
- Hospital Records
- Disability Certificate (for disability claims)
- Identity Proof
- Bank Account Details
After verification, the claim amount is transferred to the beneficiary’s bank account.
Why Should You Join PMSBY?
- Very low premium
- Government-supported scheme
- Up to ₹2 lakh insurance cover
- Easy enrollment
- Helps families during emergencies
- Suitable for workers, farmers, students above 18, self-employed people, and salaried employees
Important Points
- The scheme covers only accidental death or disability.
- It does not cover natural death.
- Premium is deducted automatically every year.
- Keep enough balance in your bank account to avoid policy cancellation.
- Update nominee details whenever necessary.
Who Should Buy PMSBY?
- Daily wage workers
- Farmers
- Small business owners
- Drivers
- Shopkeepers
- Private employees
- Government employees
- Self-employed people
- Anyone between 18 and 70 years with a bank account
Advantages of PMSBY
- Affordable premium
- High insurance coverage
- Simple application process
- Nationwide availability
- Easy claim process
- Financial security for families
Official Application For PMSBY –Link
Frequently Asked Questions (FAQs)
What is Pradhan Mantri Suraksha Bima Yojana?
It is a government accident insurance scheme that provides insurance coverage up to ₹2 lakh.
What is the premium amount?
The annual premium is ₹20.
Who can apply?
Indian citizens aged between 18 and 70 years with a savings bank account can apply.
Does PMSBY cover natural death?
No. The scheme covers only accidental death and accidental disability.
How much insurance is provided?
The maximum insurance cover is ₹2 lakh.
Can I apply online?
Yes. Many banks provide online enrollment through internet banking or mobile banking.
Is Aadhaar mandatory?
Many banks ask for Aadhaar to complete the enrollment process.
How is the premium paid?
The premium is automatically deducted from the linked savings bank account every year.
Can I have multiple PMSBY accounts?
No. A person should enroll only once through one savings bank account.
Who receives the insurance amount after accidental death?
The registered nominee receives the claim amount after successful verification.
Conclusion
The Pradhan Mantri Suraksha Bima Yojana (PMSBY) is one of the best low-cost accident insurance schemes offered by the Government of India. With an annual premium of just ₹20, eligible people can receive accident insurance coverage of up to ₹2 lakh.
If you have not joined this scheme yet and meet the eligibility criteria, enrolling in PMSBY can provide valuable financial protection for you and your family during unexpected situations.
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