PM Suraksha Bima Yojana
Ongoing scheme
This scheme runs continuously. Enrolment follows the standing process described below.
Quick Summary
| Detail | Information |
|---|---|
| Scheme Name | Pradhan Mantri Suraksha Bima Yojana (PMSBY) |
| Premium Amount | ₹20 per year (Auto-debited between May 25 - May 31) |
| Benefit Amount | ₹2 Lakh (Death/Total Disability), ₹1 Lakh (Partial Disability) |
| Eligibility Age | 18 to 70 Years |
| Claim Window | Submit claim to the bank within 30 days of the accident |
About the Scheme
The Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a ridiculously cheap, government-backed accidental death and disability insurance scheme. For just ₹20 a year (less than the cost of a cup of tea), it provides a massive ₹2 Lakh safety net to the working class. The policy runs from June 1st to May 31st every year, and the ₹20 premium is auto-debited from your bank account.
Benefits & Hidden Exceptions
- Accidental Death: ₹2 Lakh paid to the nominee.
- Total Permanent Disability: (Loss of both eyes, or both hands/feet) - ₹2 Lakh paid to the insured.
- Partial Permanent Disability: (Loss of one eye, or one hand/foot) - ₹1 Lakh paid to the insured.
Hidden Clauses & Exceptions (What is NOT Covered):
- Natural Death: If the person dies of a heart attack, cancer, or old age, PMSBY pays zero. It strictly requires an accident (road crash, snakebite, drowning, falling from a height, etc.).
- Hospital Bills: PMSBY does not pay hospital bills if you survive an accident. It only pays the lump sum if permanent disability or death occurs.
- Multiple Accounts: You can only claim this once. If ₹20 is deducting from both your SBI and HDFC accounts, the insurance company will only pay ₹2 Lakh, not ₹4 Lakh. Cancel one.
Exact Claim Settlement Process (Actionable Guide)
Insurance companies reject claims if the paperwork is delayed or incomplete. If an accident occurs, the nominee must act fast:
- Inform the Bank Immediately: Go to the specific bank branch where the ₹20 was auto-debited. Tell the branch manager you need to file a PMSBY claim.
- The 30-Day Rule: The "Claim-cum-Discharge Form" must be submitted to the bank ideally within 30 days of the accident. Do not wait months.
- Police FIR is Mandatory: Because this is an accidental death policy, a Police FIR (or Panchnama) and a Post-Mortem report are absolutely mandatory to prove it was an accident.
- Bank Verification: The bank verifies that the ₹20 was successfully deducted that year, stamps the form, and forwards it to the insurance company. The money is credited to the nominee's account within 30-45 days.
Documents Required for Claim
- Claim-cum-Discharge Form (Available at the bank).
- Original Death Certificate (or Disability Certificate by a Govt. Civil Surgeon).
- Police FIR / Panchnama (Mandatory).
- Post-Mortem Report.
- Aadhaar & Bank Passbook of the Nominee.
Important Links
| Purpose | Link |
|---|---|
| Download Official Claim Form | jansuraksha.gov.in/Forms-PMSBY |
FAQs
Sources and review
Facts in this guide were last checked against the official sources below on . Rules can change after that date, so confirm details on the official portal before you apply.
Official sources used
- Jan Suraksha National Insurance Portal — PMSBY Rules (opens in a new tab) — Department of Financial Services, Ministry of Finance, GoI (accessed 25 Oct 2026)
Written and maintained by Abhijit Chowdhury. Read our editorial and corrections policy.
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