Pradhan Mantri Suraksha Bima Yojana (PMSBY)
This profile has been independently compiled from official gazette notifications and verified web domains. Source Authority Link: www.prs.gov.in Authority: Ministry of Finance • State/Region: Central Scheme (All India) • Last Audited: 21 Oct 2026
Quick AI Summary
A one‑year accidental death and disability insurance scheme, renewable annually, with coverage of up to Rs. 2 lakhs for death or total permanent disability and Rs. 1 lakh for partial permanent disability, at a premium of Rs. 20 per annum.
Detailed Summary
Scheme Overview
The Pradhan Mantri Suraksha Bima Yojana (PMSBY) provides accidental death and disability cover to Indian residents holding a savings bank account. The cover is effective for one year from the date of enrollment and may be renewed automatically each year, provided the premium is debited.
Coverage Details
• Accidental death or total permanent disability – up to Rs. 2 lakhs.
• Partial permanent disability – up to Rs. 1 lakh.
• Premium – Rs. 20 per annum, auto‑debited from the insured’s bank account.
Key Features
The scheme is administered by the Ministry of Finance through participating banks. Enrollment is voluntary, and the premium is deducted on the policy anniversary date. No medical examination is required. The benefit is payable directly to the nominee or the insured, as applicable.
Key Benefits & Financial Assistance
| Comparison Criteria | Benefits |
|---|---|
| Key Benefits |
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Eligibility Criteria Profile
| Comparison Criteria | Eligibility |
|---|---|
| Minimum Age Limit | 18 Years or above |
| Physical Disability | Not Restricted (Anyone can apply) |
| Domicile State | All India (Central Scheme) |
Application Process Guide
- Log in to your bank’s net‑banking portal or visit the nearest bank branch.<br>
- Select ‘Pradhan Mantri Suraksha Bima Yojana’ and provide consent for auto‑debit.<br>
- Verify personal details and confirm enrollment.<br>
- The premium of Rs. 20 will be debited on the policy anniversary date each year.
Common FAQs regarding this Yojana
Eligible permanent residents meeting the specified domicile, income, and category criteria can submit an application along with verified credentials.
Key mandatory documents include Aadhaar Card, Residence/Domicile Certificate, Income Certificate, and active Bank Account Passbook.
Benefits are directly credited to the beneficiary's Aadhaar-seeded bank account through the Public Financial Management System (PFMS) / DBT.
Applicants can track status in real-time by logging into the official portal using their Application Reference Number.