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Pradhan Mantri Suraksha Bima Yojana

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Highlights of the Pradhan Mantri Suraksha Bima Yojana (PMSBY - Scheme 1 - for Accidental Death Insurance) are

  • Eligibility: The savings bank account holders of the participating Bank between 18 years (completed) and 70 years (age nearer birthday) who give their consent to join / enable auto-debit, as per the modality, will be enrolled into the scheme.
  • Policy period: The cover shall be for one year period starting from 1st June 2016 to 31st May 2017 for which option to join / pay by auto-debit from the designated savings bank account on the prescribed forms
  • Premium: Rs. 12/- + service tax (per annum).
  • Payment Mode: The premium will be directly auto-debited by the bank from the subscribers account. This is the only mode available.
  • Risk Coverage: Total coverage (sum-insured) under the scheme is Rs. 2 Lakh.
S.N. Table of Benefits Sum Insured
I. Accidental Death Rs. 2 Lakh
II. 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 one hand or one foot Rs. 2 Lakh
III. Total and irrecoverable loss of sight of one eye or loss of use of one hand or one foot Rs. 1 Lakh

*The cover is subject to exclusions of the policy.

For Terms & Conditions click here

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