Updated By: LatestGKGS Desk
Pradhan Mantri Suraksha Bima Yojana (PMSBY) Key Features
Pradhan Mantri Suraksha Bima Yojana (PMSBY) : Launch,Benefits ,Eligibility
Pradhan Mantri Suraksha Bima Yojana was launched on 9th May 2015 by Prime Minister Narendra Modi under the Ministry of Finance.
The Yojana intends to provide an affordable insurance scheme for the poor and underprivileged people in the age group of 18 to 70 years.
According to the latest report of PIB, 61.29 % of claim beneficiaries are women.
Benefits of Pradhan Mantri Suraksha Bima Yojana
The scheme is administered by insurance companies from both the private and public sectors.
*The Yojana offers a life cover of Rs.2 Lakhs for one year to all its account holders.
This life cover is provided in case of accidental death or permanent disability.
*Rs.1 lakh is provided in case of partial disability.
*Scheme can be availed by any individual aged between 18 years to 70 years.
*In case of death of the account holder ,the benefits can be availed by his/her nominee.
*The scheme also provides an annual premium of Rs. 12 per annum per member.This premium is autodebited in 1 installment on or before 1st June of every year.
Eligibility for Pradhan Mantri Suraksha Bima Yojana
*Individual should be aged between 18 years to 70 years.
*Bank account of the individual must be linked to their phone number.
*Aadhar Card must be linked with the Bank account.
*In case of joint account,benefits can be availed by all the account holders.
*Only one bank account of an individual is eligible, he/she cannot avail the benefits by multiple bank accounts.
*In case of an NRI beneficiary ,he/she will claim benefits only in Indian Currency.