PM Suraksha Bima Yojana: The Indian government is continuously running several schemes for the security and financial stability of common people. The objective of these schemes is to ensure that no family feels a lack of support during difficult times. One such important scheme is the Pradhan Mantri Suraksha Bima Yojana (PMSBY), which provides significant insurance coverage at a very low cost.
This scheme is specifically designed for people with limited income who want to secure the future of their families. It is often observed that if the earning member of the family meets with an accident, the entire family faces financial difficulties. To mitigate this risk, the government has launched this insurance scheme.
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What is the PM Suraksha Bima Yojana?
Under the Pradhan Mantri Suraksha Bima Yojana, a premium of only ₹20 is required for a year. Getting insurance coverage worth lakhs of rupees for such a small amount makes this scheme special. This is why a large number of people across the country have joined this scheme.
Know how much insurance cover you will get
Under this scheme, in case of accidental death, the nominee receives assistance of ₹2 lakh. If a person loses both eyes, both hands, or both legs completely in an accident, a cover of ₹2 lakh is also provided. If there is partial disability due to the accident, financial assistance of ₹1 lakh is provided. The insurance period starts from June 1st and ends on May 31st every year. The scheme was launched in 2015.
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Who can apply?
To avail of the benefits of the Pradhan Mantri Suraksha Bima Yojana, a person must be between 18 and 70 years of age. The premium is automatically debited from the bank account every year. This eliminates the need to worry about renewing the insurance every year, and the coverage remains continuously active.
How to apply?
If you want to join this scheme, you need to visit your nearest bank branch. You will find the Pradhan Mantri Suraksha Bima Yojana application form there. After filling in the necessary information in the form and submitting the required documents, your application will be complete. In this way, you can create a strong safety net for yourself and your family at a very low cost.
