Pradhan Mantri Suraksha Bima Yojana (PMSBY) | Accidental insurance cover to all Indian citizens

Operated by
Ministry of finance government of India - Department of financial services
Purpose 
Financial assistance in the form of accidental insurance cover to all Indian citizens
Probable duration
-

Eligibility

  •  This scheme is open and available to all between the age of 18 to 70 years.

  •  should have a saving bank account

  •  should give a consent letter for auto-dabit facility

Benefit Description

To provide accidental insurance cover to all Indian citizens

Application process

  •  Need to fill up the claim form and submit it along with Death certificate, the original document of FIR or Post Mortem report, Discharge certificate and Insurance certificate at the bank where you are supposed to get the Suraksha Bima Yojana in the savings account

  •  Bank branch shall send all documents to the nearest insurance office and there the scrutiny of the documents shall be done. The insurance company shall transfer claim amount in the bank account of that particular nominee and then notify the nearest branch of that bank.

  •  This is the process and in case any discrepancy is there, the insurance company shall deal with the designated branch and the individual shall be notified immediately.

    • Other Details

    Conditions if Any
      The assurance on the life of the member shall terminate on any of the following events and no benefit will become payable there under:
    • if the policy holder attains the age or 70 years
    • if the policy holder closes his/her saving account and/or is not able to continue with the premium paying process or minimum balance in the saving account
    • if the policy holder has opted for more than one policy under the scheme, the other policy except the oldest would be cancelled and terminated
    • if the premium was not paid due to insufficient balance in the saving account, the policy would be terminated till a period when the policy holder pays the premium
    More Information
    Annexure Link: -
    Link: 
    http://www.jansuraksha.gov.in/Files/PMSBY/English/Rules.pdf

    File: -