{"id":1176,"date":"2018-11-29T22:47:39","date_gmt":"2018-11-29T17:17:39","guid":{"rendered":"http:\/\/www.parinitasharma.com\/?p=1176"},"modified":"2020-09-13T20:33:13","modified_gmt":"2020-09-13T15:03:13","slug":"pradhan-mantri-suraksha-bima-yojana-accident-insurance-for-only-rs-12","status":"publish","type":"post","link":"https:\/\/www.parinitasharma.com\/blog\/pradhan-mantri-suraksha-bima-yojana-accident-insurance-for-only-rs-12\/","title":{"rendered":"Pradhan Mantri Suraksha Bima Yojana – Accident Insurance for only Rs.12\/-"},"content":{"rendered":"

Pradhan Mantri Suraksha Bima Yojana<\/strong><\/h2>\n

\"PMSBY\"<\/p>\n

Pradhan Mantri Suraksha Bima Yojana<\/strong> was launched by the government to provide social security to the common people at an affordable cost.<\/p>\n

Are you looking for an affordable accidental insurance policy for yourself, then Pradhan Mantri Suraksha Bima Yojana may just be the right option for you. For, it can help you avail an accidental death or disability insurance cover worth Rs 2 lakh for an annual premium of Rs 12 only! Pradhan Mantri Suraksha Bima Yojana, in fact, was launched by the government in 2015 to provide social security to the common people at an affordable cost.<\/p>\n

<\/h2>\n

Some of the important features of this scheme:<\/h2>\n

What is Pradhan Mantri Suraksha Bima Yojana?<\/strong><\/p>\n

It is an yearly accident insurance scheme, renewable from year to year, offering cover for death or disability on account of an accident.<\/p>\n

 <\/p>\n

Scope of coverage:<\/strong><\/p>\n

All savings bank account holders in the age 18 to 70 years in participating banks are entitled to join the scheme. In case of multiple saving bank accounts held by an individual in one or different banks, the person would be eligible to join the scheme through one savings bank account only<\/p>\n

 <\/p>\n

Benefits:<\/strong><\/p>\n

As per the terms and conditions of the scheme, a death benefit of Rs 2 lakh will be given in case death on account of an accident. Similarly, a benefit Rs 2 lakh will be given in case of total and irrecoverable loss of both eyes or loss of use of both hands or feet or loss of sight of one eye and loss of use of hand or foot of the insured. However, the insured will be given a sum of Rs 1 lakh in case of total and irrecoverable loss of sight of one eye or loss of use of one hand or foot.<\/p>\n

 <\/p>\n

Policy period:<\/strong><\/p>\n

The cover shall be for one year starting from June 1 to May 31 of next year. For the Saving Account holder joining on or after June 1, the cover shall commence from the date of premium debited and the end on May 31 of next year.<\/p>\n

 <\/p>\n

Premium:<\/strong><\/p>\n

Rs12 per annum per member.<\/p>\n

 <\/p>\n

Premium mode:<\/strong><\/p>\n

The premium will be auto debited by the bank from the account holder\u2019s savings bank account, as per the option given on its enrolment. Members may also give one-time mandate for auto-debit every year till the scheme is in force.<\/p>\n

 <\/p>\n

Process to activate the scheme through SMS:<\/strong><\/p>\n

# As per HDFC Bank, eligible customers will be sent an SMS asking them to respond as \u2018PMSBY <space> Y\u2019.<\/p>\n

# To enroll for the scheme, customer replies as \u2018PMSBY <space> Y\u2019.<\/p>\n

# Customer will get an acknowledgement message for receipt of the response.<\/p>\n

# For processing the application, the demographic details and the nominee name, nominee relationship and nominee date of birth will be taken from the details present in the savings account.<\/p>\n

# In case the nominee details are not available in core banking records, the confirmation will not be taken ahead for processing. Customer may then apply from the nearest branch \/ netbanking.<\/p>\n

# In case the auto debit of the premium fails due to insufficient funds or other reasons, the insurance cover ceases to be in force.<\/p>\n

 <\/p>\n

Process to activate the scheme through NetBanking:<\/strong><\/p>\n

# Log in to NetBanking > Click on the \u2018Insurance\u2019 tab.<\/p>\n

# You will be shown both the schemes (Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana) to choose from.<\/p>\n

# Select the account through which you wish to pay your premium.<\/p>\n

# Policy Cover amount, Premium amount and Nominee details (as per the selected account) will be displayed. You can choose to replicate the Savings Account nominee OR add a new nominee.<\/p>\n

# Click on the following declarations\/details:<\/p>\n

\u2013 Good Health declaration<\/p>\n

\u2013 Terms & Conditions \/ Scheme Details \/ FAQs<\/p>\n

\u2013 \u201cI do not hold any other policy of the same\u201d<\/p>\n

# Click on \u2018Continue\u2019. You will then be shown the complete details of the social security scheme you have registered for.<\/p>\n

# If you are okay with the scheme registration details displayed, click on \u2018Confirm\u2019.<\/p>\n

# Download the Acknowledgement, which carries a unique reference number.<\/p>\n

# Do save the Acknowledgement document for future reference.<\/p>\n

 <\/p>\n

source:<\/p>\n

https:\/\/en.wikipedia.org\/wiki\/Pradhan_Mantri_Suraksha_Bima_Yojana<\/a><\/p>\n

http:\/\/www.jansuraksha.gov.in\/Files\/PMSBY\/English\/About-PMSBY.pdf<\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Pradhan Mantri Suraksha Bima Yojana Pradhan Mantri Suraksha Bima Yojana was launched by the government to provide social security to the common people at an affordable cost. Are you looking for an affordable accidental insurance policy for yourself, then Pradhan Mantri Suraksha Bima Yojana may just be the right option for you. For, it can […]<\/p>\n

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