The Pradhan Mantri Suraksha Bima Yojana (PMSBY) offers millions of Indians accidental insurance for a low annual premium of ₹12, providing financial security for death or disability due to accidents. Understanding and utilizing this scheme can bring peace of mind during unexpected events for individuals and their families.
The PMSBY scheme provides a ₹2 lakh death benefit and the same for total permanent disability due to loss of both eyes, hands, or feet. For partial permanent disability, such as loss of one eye, hand, or foot, the coverage is ₹1 lakh. Knowing these details helps beneficiaries estimate the financial help they can receive in different scenarios.
Enrollment in PMSBY is convenient through participating banks and insurers. You can sign up by filling a form at your bank or online if you have a savings account. The premium is automatically deducted annually, ensuring continuous coverage effortlessly.
Individuals aged 18-70 with a savings account can apply for the Pradhan Mantri Suraksha Bima Yojana. They need to consent to auto-debit the premium. Prior to applying, they should review the eligibility criteria to ensure they qualify and avoid future issues.
Naming a family member as the beneficiary in your Pradhan Mantri Suraksha Bima Yojana policy ensures that if you face unfortunate events like death or severe disability, your surviving family members can easily claim benefits. This step guarantees timely financial support for loved ones in tough times, without added stress.
PMSBY coverage lasts from June 1 to May 31 each year; remember to renew annually. Keeping your policy active ensures uninterrupted protection. Be aware of renewal dates and have sufficient funds for premium auto-debits.
Sources News From Various Digital Platforms, Websites, Journalists, And Agencies.
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