PMSBY Update: In this government scheme, you get a benefit of Rs 2 lakh for just Rs 20...


The Central Government is running many schemes to make the common citizens of the country economically and socially strong. One of these schemes is Pradhan Mantri Suraksha Bima Yojana.


This insurance scheme was launched by the government in the year 2015. This accidental insurance is available at an annual premium of Rs 20 (PMSBY Premium). The government had started PMSBY to provide insurance benefits to the low-income group of people. According to the government, the purpose of this scheme is to help people in difficult times.

Who can take advantage of the scheme?
Under Pradhan Mantri Suraksha Bima Yojana (PMSBY), a cover of Rs 1 lakh is available in case of death of the insured in an accident or total disability and two permanent partial disabilities. Taking advantage of Pradhan Mantri Suraksha Bima Yojana (PMSBY) for just Rs 20 provides financial help to the family in times of crisis. People between the age group of 18 to 70 years can avail the benefits of this scheme.

Auto debit facility available-
To avail of the benefits of PMSBY, you must have a bank account. If you have more than one bank account, you can avail of this scheme from only one bank. A premium of Rs 20 will be deducted from your bank account through the 'Auto Debit' facility on or before 1st June every year. In case of the death of the insured in an accident, the family gets assistance of Rs 2 lakh. Whereas in case of complete disability due to an accident, financial assistance of Rs 2 lakh is given to the insurance holder.

Enrollment period-
The policy will be canceled if there is not sufficient balance in the account for premium renewal. In such a situation, all account holders should first ensure that their insurance policy has been renewed. The insurance premium amount is directly debited from the bank account. Therefore, keep at least Rs 20 in your bank account.


Crores of claims paid-
According to government data, till 26.04.2023, 2,302.26 crore claims have been paid through this scheme and more than 34.18 crore people have enrolled in PMSBY. Any citizen of the country can avail the benefits of this insurance scheme. The government is trying to strengthen the common people financially through this insurance policy.

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