Pradhan Mantri Suraksha Bima Yojana 2024: Apply Online & Benefits

Pradhan Mantri Suraksha Bima Yojana Apply Online & Application Form | Pradhan Mantri Suraksha Bima Yojana Check Beneficiary Category & Last Date | Pradhan Mantri Suraksha Bima Yojana Check Benefits & Features | Pradhan Mantri Suraksha Bima Yojana Check Selection & Implementation Procedure | Pradhan Mantri Suraksha Bima Yojana Check Eligibility & All Details | 

The Pradhan Mantri Suraksha Bima Yojana is a commendable initiative by the government to provide financial security to the citizens of India. With its low premium, wide coverage, easy enrollment process, and renewable policy, this scheme ensures that individuals and their families are protected in case of accidental death or disability. This government-backed insurance scheme plays a crucial role in ensuring that individuals have access to financial protection in case of accidents and helps foster a sense of security and stability among the insured.

This article will provide all types of information about Pradhan Mantri Suraksha Bima Yojana 2024 like purpose, Eligibility Criteria, Benefits, Features, important documents, etc. Apart from this, we will share the process to apply online for this scheme. To get complete information about this scheme, read this article till the end.

Pradhan Mantri Suraksha Bima Yojana 

The Pradhan Mantri Suraksha Bima Yojana has been demonstrated to be a vital step in giving a considerable proportion of the populace access to insurance coverage. The scheme aims to provide affordable security for individuals and families in the occasion of unfortunate accidents by providing extensive coverage at reasonable premiums. Everyone must utilize this program to safeguard their financial future.

Anyone out there can have an accident at any time, and they can cause unimaginable breakdowns in our lives. The Pradhan Mantri Suraksha Bima Yojana (PMSBY) was launched by the government to start giving Indian citizens financial security. The aim of the programme of is to offer people affordable accidental death and disability insurance so they can feel secure in the event of unanticipated circumstances.

Highlights of Pradhan Mantri Suraksha Bima Yojana 2024

The highlights of this scheme are as follows:- 

Objectives of Pradhan Mantri Suraksha Bima Yojana 2024

The primary objective of the Pradhan Mantri Suraksha Bima Yojana is to ensure that every citizen has access to affordable insurance coverage. The scheme offers a low premium, making it accessible to a wide range of individuals, including those from economically weaker sections of society.

The PMSBY aims to provide financial protection to individuals and their families in case of accidental death or disability. Accidents can have a significant impact on a person’s life, both physically and financially. By offering insurance coverage in such situations, the scheme aims to alleviate the financial burden and provide a safety net for the insured and their loved ones.

Beneficiary Category 

Under the PMSBY, the beneficiaries are divided into different categories based on their age. The scheme is open to all individuals between the ages of 18 and 70 years. The coverage provided under this scheme includes accidental death and disability benefits, with a sum assured of Rs. 2 lakhs in case of death and Rs. 1 lakh for permanent total disability.

Application Enrollment Last Dates

Applying for enrollment in the scheme is a simple process. Individuals can approach any participating bank or insurance company to fill out the application form. The last date for enrollment is generally May 31st of each year, but it is advisable to check with the respective bank or insurance provider for the exact deadline.

Selection Procedure 

The selection procedure for the scheme is straightforward. Once the application is submitted, it undergoes a verification process by the bank or insurance company. Upon successful verification, the applicant is enrolled in the scheme and provided with the necessary insurance documents.

Implementation Procedure 

The implementation procedure of the scheme involves the collaboration of various banks and insurance companies. These institutions play a crucial role in spreading awareness about the scheme, collecting applications, and processing claims. The government provides the necessary support and guidelines to ensure the smooth implementation of the scheme.

Supervision Body 

The supervision of the Pradhan Mantri Suraksha Bima Yojana is carried out by the Ministry of Finance, Government of India. The ministry is responsible for monitoring the progress of the scheme, ensuring compliance with the guidelines, and addressing any issues that may arise.

Easy Enrollment & Wide Coverage

One of the key benefits of the scheme is its easy enrollment process. Individuals between the ages of 18 and 70 can avail of this scheme by simply filling out a form and providing their bank account details. The premium for this scheme is a mere Rs. 12 per annum, making it affordable for people from various income groups. Under this scheme, individuals are provided with a cover of Rs. 2 lakh in case of accidental death and total disability. In case of partial disability, a cover of Rs. 1 lakh is provided. This wide coverage ensures that individuals and their families are financially protected in case of unfortunate events.

Renewable Policy & No Medical Examination

The scheme is a renewable policy, which means that individuals can continue to avail the benefits of this scheme by renewing it every year. This ensures that individuals have long-term financial security and peace of mind. Another advantage of this scheme is that it does not require any medical examination. Unlike other insurance policies, individuals do not have to undergo any medical tests to avail the benefits of this scheme. This makes it accessible to a wide range of individuals, regardless of their health condition.

Income Tax Benefits & Accessibility

One of the attractive features of the scheme is the income tax benefits that it offers. The premium paid for this scheme is eligible for tax deduction under section 80C of the Income Tax Act. This provides individuals with an additional incentive to avail of this scheme and secure their financial future. In addition to the low premium and tax benefits, the Pradhan Mantri Suraksha Bima Yojana is also highly accessible. It is available through various banks and can be easily enrolled through the internet banking facility or by visiting the nearest bank branch. This ensures that individuals from both urban and rural areas can easily avail the benefits of this scheme.

Widening the Insurance Coverage Net

The PMSBY aims to expand the reach of insurance coverage across the country. By providing a simple and accessible insurance scheme, the government aims to bring a large number of people under the insurance net who were previously uninsured or underinsured. This widening of the coverage net ensures that more individuals have access to financial protection in case of unforeseen accidents.

Promoting Social Security

The scheme is a step towards promoting social security in the country. By providing personal accident insurance coverage, the scheme aims to enhance the overall well-being of the insured individuals and their families. It helps in creating a sense of social security and confidence among the insured, knowing that they have financial protection in case of accidents.

Creating Awareness about Insurance

This will create awareness about the importance of insurance among the population. The scheme aims to educate individuals about the benefits of personal accident insurance and the financial security it provides. By spreading awareness, the government aims to increase the penetration of insurance in the country and ensure that more people avail of the benefits of insurance coverage.

Key Guidelines 

Key Guidelines for the Scheme:-

• The scheme is available to all individuals aged 18 to 70 years.
• The premium for the scheme is Rs. 12 per annum.
• The coverage period is from June 1st to May 31st of the following year.
• The scheme can be renewed annually.
• The premium will be auto-debited from the applicant’s bank account.
• The scheme provides coverage for accidental death and permanent total disability.
• Partial disability coverage is also available, with a sum assured of Rs. 1 lakh.
• Individuals can opt for higher coverage by enrolling in multiple policies.
• The scheme does not cover death or disability due to natural causes.
• Claims can be filed within 30 days of the accident.

Benefits of Pradhan Mantri Suraksha Bima Yojana 2024

The benefits of this scheme are as follows:-

• Financial Security: The scheme provides financial security to individuals and their families in case of accidental death or disability.
• Low Premium: The premium for this scheme is very affordable, making it accessible to a large number of people across the country.
• Accidental Death Cover: In the unfortunate event of the policyholder’s death due to an accident, a lump sum amount is provided to the nominee, ensuring financial stability for the family.
• Disability Cover: The scheme also offers coverage for permanent or partial disabilities caused by accidents. The insured individual receives a predetermined sum to help them cope with the financial implications of the disability.
• Easy Enrollment: The enrollment process for the scheme is simple and hassle-free. Individuals can easily apply for the policy through their bank accounts.
• Wide Coverage: The scheme covers a wide range of accidents, including road accidents, train accidents, and other mishaps.
• Renewable Policy: The policy can be renewed annually, ensuring continued coverage and peace of mind for the policyholder and their family.
• No Medical Examination: One of the key benefits of this scheme is that it does not require any medical examination for enrollment. This makes it accessible to people of all ages and health conditions.
• Income Tax Benefits: Premiums paid for the scheme are eligible for tax deductions under Section 80C of the Income Tax Act, providing additional financial benefits to policyholders.
• Accessibility: The scheme is available to all individuals between the ages of 18 and 70, ensuring that a large segment of the population can benefit from this insurance coverage.

Features Of Pradhan Mantri Suraksha Bima Yojana 2024

The features of this scheme are as follows:-

• Affordable Premium: The Pradhan Mantri Suraksha Bima Yojana (PMSBY) offers a low premium of just Rs. 12 per annum, making it accessible to a wide range of individuals.
• Accidental Death Coverage: The scheme provides accidental death coverage of Rs. 2 lakh to the policyholder’s nominee in the event of the insured’s death due to an accident.
• Permanent Disability Coverage: PMSBY also offers coverage of Rs. 2 lakh in case of permanent total disability caused by an accident.
• Partial Disability Coverage: In case of permanent partial disability due to an accident, the scheme provides coverage of Rs. 1 lakh.
• Flexibility in Enrollment: The scheme allows individuals to join or exit the scheme at any time during the year. However, the coverage is provided on an annual basis.
• Age Eligibility: Individuals between the ages of 18 and 70 years are eligible to enroll in the Pradhan Mantri Suraksha Bima Yojana.
• Multiple Channels for Enrollment: Individuals can enroll in the scheme through various channels, including banks, insurance companies, and other financial institutions.
• Easy Claim Process: In the unfortunate event of an accident, the claim process is simple and hassle-free, ensuring that beneficiaries receive the coverage amount in a timely manner.
• No Medical Examination: The scheme does not require any medical examination for enrollment, making it convenient for individuals to avail of the benefits.
• Renewable Coverage: The coverage under PMSBY is renewable on an annual basis, allowing individuals to continue enjoying the benefits of the scheme.

Pradhan Mantri Suraksha Bima Yojana Eligibility Criteria 

The applicants will need to follow the below-mentioned points to apply online for this scheme:-

To avail of the benefits of Pradhan Mantri Suraksha Bima Yojana, an applicant must be a citizen of India, aged between 18 and 70 years. The scheme is targeted towards poor and backward-class families. Additionally, the applicant must possess a savings account with an auto debit facility, as the policy cancellation will be linked to the account closure.

Important Documents 

Some of the important documents required to apply online for this scheme are as follows:-

• Aadhar Card
• Residence Certificate
• Income Certificate 
• Educational Certificates 
• Bank Account Details 
• Latest Passport Size Photos 
• Mobile No
• Email ID 

Pradhan Mantri Suraksha Bima Yojana Apply Online 2024 

The applicants will need to follow the below-mentioned points to apply online:- 

• Go to the Official Website of Jan Dhan Se Jan Suraksha.

• After this, the home page of the website will open in front of you.
• Click on the Forms option.
• Now click on the option of Pradhan Mantri Suraksha Bima Yojana.
• Now a new page will open in front of you where you have to click on the option of Application Forms.
• After this, you will have to select the language as per your wish.
• After selecting the language, the application form of Pradhan Mantri Suraksha Bima Yojana will open in PDF form in front of you.
• Then download the form and enter all the necessary information asked in it carefully.
• Enter the account holder’s name, father’s name, account holder’s address, city/town/village name, district name, state name, account holder’s mobile number, bank account number, PAN number, Aadhaar number, date of birth, email ID etc.
• After entering all the information, the required documents have to be attached to the form.
• Now you have to submit this application form to the bank in which you have your account.

Pradhan Mantri Suraksha Bima Yojana Apply Offline

If you want to apply offline under Pradhan Mantri Suraksha Bima Yojana. So you can apply by following the procedure given below:-

• You will have to go to the branch of that bank. Where you already have a savings account.
• By going there you will have to get the application form for Pradhan Mantri Suraksha Bima Yojana.
• After receiving the application form, you will have to enter all the necessary information in it.
• Then attach the asked documents.
• After this, you will have to submit this application form to the bank.
• Once the application is verified, you will be included in the list of insured persons.

Contact Information

In case of queries and questions that come to your mind regarding the Pradhan Mantri Suraksha Bima Yojana, then you may contact this aforementioned toll-free no:-  1800-180-1111 / 1800-110-001.