Health Insurance: Due to ever-rising inflation, everything has become more expensive. People are working hard to procure food and drinks. In such a situation, obtaining health insurance has become increasingly difficult. However, the government has implemented a special scheme to address this problem.

The central government launched the Pradhan Mantri Suraksha Bima Yojana (PM Suraksha Bima Yojana). This scheme offers significant insurance coverage at a very low premium. Accident insurance of up to ₹2 lakh can be obtained by paying just ₹20 annually. This scheme is especially beneficial for low-income individuals and those working in the unorganised sector.

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What is the Pradhan Mantri Suraksha Bima Yojana?

This scheme is a government accident insurance scheme. If a person covered under the scheme dies in an accident or becomes completely disabled, their family receives insurance coverage of up to ₹2 lakh. The most significant feature of this scheme is that the annual premium is only ₹20, which is deducted directly from the bank account.

Who can avail of the scheme?

Anyone between the ages of 18 and 70 can avail of the Pradhan Mantri Suraksha Bima Yojana. Applicants must have a savings account with a bank or post office. The coverage period is from June 1st to May 31st each year. Therefore, premium payments must be made before May 31st each year. Auto-debit facility can also be activated if desired.

If someone has a joint bank account, both account holders can join the scheme by paying a separate premium of ₹20. Those with multiple bank accounts can avail the scheme through only one account. Applying with multiple accounts is considered a duplicate cover and does not provide any benefits.

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How much insurance cover is available?

Under this scheme, an insurance amount of Rs 2 lakh is provided in case of death or permanent total disability due to an accident. However, if an accident results in partial disability, insurance cover of up to Rs 1 lakh is provided.

How to Apply

Applying for the Pradhan Mantri Suraksha Bima Yojana is very easy. You can apply through your bank’s website, net banking, mobile banking, or the official website of PMSBY. You can fill in the nominee details when applying.