Insurance Policy: In today’s times, getting insurance has become difficult for many people. Previously, people considered it a burden. But with changing times, getting insurance has become easier. Nowadays, emergencies or unforeseen events can lead to significant expenses. It becomes difficult for an average family to bear these costs. In such a situation, insurance cover at a low premium can provide great relief to the family during times of crisis. Several government schemes are specifically designed for those who cannot afford high premiums but for whom financial security is essential.
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What is the Pradhan Mantri Suraksha Bima Yojana?
The Pradhan Mantri Suraksha Bima Yojana (PMBSS) provides financial support to families who lack the means to cope with sudden accidents. The objective of this scheme is to ensure that every citizen receives at least basic security. The scheme provides accident insurance cover so that the policyholder’s family receives financial assistance in case of any serious accident.
Great Protection at a Low Premium
The biggest attraction of this scheme is its extremely low premium. An accident insurance cover of ₹2 lakh can be obtained for just ₹20 annually. If the policyholder dies in an accident, the nominee receives the full amount. This government scheme was launched in 2015, and since then, millions of people have joined it.
Financial Assistance for Partial or Complete Disability
This government scheme not only provides benefits in case of death. If the insured person becomes partially disabled in an accident, they receive a benefit of ₹1 lakh. In case of complete disability, a cover of ₹2 lakh is provided. In this way, this scheme directly benefits not only the family but also the policyholder.
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Easy Payment Process
The process for the Pradhan Mantri Suraksha Bima Yojana is very simple. The premium is ₹20 annually and is deducted directly from the bank account through auto-debit. This cover is valid every year from June 1st to May 31st. This eliminates the need for policyholders to remember dates or make separate payments. This government scheme is open to all Indian citizens between the ages of 18 and 70. Those interested in applying can fill out the form at their bank or nearest Common Service Center. This scheme offers significant coverage at a low premium.