Pradhan Mantri Suraksha Bima Yojana (PMSBY)
Death / total disability₹2 lakh
Partial disability₹1 lakh
Premium₹20 per year
Age18 to 70 years
⚠️ Sum insured, premium and conditions can change. See the latest information at your bank or jansuraksha.gov.in.
What is the scheme?
PMSBY is a one-year renewable accident insurance scheme. For a tiny premium it pays the sum insured on accidental death or disability.
Key benefits
- ₹2 lakh on accidental death or total disability
- ₹1 lakh on partial permanent disability
- Very low premium: ₹20 per year
Eligibility – who can apply
- Age 18 to 70 years
- Has a bank/post office savings account
- Aadhaar-linked account
Who is not eligible / things to note
- People above 70 years
- The policy can lapse if the account has no balance
Documents required
- Aadhaar card
- Savings account details
- Nominee details
How to apply (step by step)
- Choose PMSBY at the bank branch, net banking or app
- Fill the form and consent to auto-debit
- Enter the nominee's name
- Keep enough balance for the premium every year
Frequently asked questions
What premium does PMSBY charge?
₹20 per year (confirm with the bank as it may change).
What if I have more than one bank account?
Generally a person can be covered under this scheme through only one bank account.
When is the claim paid?
After an accident, the nominee/account holder must lodge the claim at the bank within the set period. Ask the bank the rules.
Beware: Do not pay any agent or website in the name of applying for a government scheme. Applying on the official portal is generally free. Do not share OTP, PIN or confidential bank details with anyone.