PM Bima Suraksha Yojana: In today’s times, medical and accident-related expenses have increased significantly. Previously, people considered insurance an additional burden, but now the situation has completely changed. Even a minor accident can devastate a family budget. In such a situation, government insurance available at a low premium provides immense relief. The Pradhan Mantri Suraksha Bima Yojana, launched by the government, was designed for families who lacked the means to deal with any kind of emergency.

What is Pradhan Mantri Suraksha Bima Yojana?

This scheme was launched in 2015. Its objective was to ensure that every citizen had at least a basic accident insurance cover. This scheme was specifically designed to provide financial security to poor and low-income families so that they can receive immediate assistance in the event of an accident.

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How much insurance cover is available?

Under this scheme, accident insurance cover of up to 2 lakh rupees is available for an annual premium of just 20 rupees. If the insured dies in an accident, the entire sum assured is paid to their nominee. If the individual becomes partially disabled in an accident, a benefit of up to ₹1 lakh is provided. In case of total disability, a cover of up to ₹2 lakh is provided. This scheme provides protection not only to the family but also to the policyholder himself.

The Process is Extremely Simple

The scheme’s most significant feature is its simple process. Premiums are deducted directly from the bank account through auto-debit, so there’s no need to remember dates or worry about payments. Insurance coverage is valid from June 1st to May 31st of every year.

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Who Can Benefit?

Any Indian citizen between the ages of 18 and 70 can enrol in this scheme. Interested individuals can fill out a form at their bank or the nearest Common Service Centre. Due to its low cost and extensive coverage, this scheme is still considered one of the most affordable and effective insurance plans.