Pradhan Mantri Suraksha Bima Yojana (PMSBY) – Details, Benefits, Apply

By | July 10, 2020

Pradhan Mantri Suraksha Bima Yojana

Pradhan Mantri Suraksha Bima Yojana (PMSBY) - Secure your Family ...

Nowadays mindset has been changed Indian people here in India especially for the insurance sector, One of the great schemes launched by Govt. of India known as Pradhan Mantri Suraksha Bima Yojana, this scheme launch by P.M.Modi It was formally launched by Prime Minister Narendra Modi on 9 May in Kolkata. The idea of getting yourself financially Insured is not a recently introduced concept in India. On the other hand, its reach is still quite restricted. Despite a number of insurance organizations working in the nation with their particular products &services, there is a huge count of individuals in rural parts, who are far away even from the idea of any sort of insurance plan Suraksha Bima Yojana is particularly initiated for this category of people.

These kind of people are the ones who are generally below the poverty line. The protection is clearly too expensive to service for them. The major expect of this yojana is to connect with such individuals and persuade them to run with its exceedingly painful protection arranges after the triumphant execution of Pradhan Mantri Jan Dhan Yojana. You can also check the latest bima or pension yojana of Bihar Government on the

Pradhan Mantri Suraksha Bima Yojana beneficiaries:

  • The fatality remunerations of this yojana are equal to 2 lakh.
  • If a situation takes place that both the legs. hands, sight is not in a condition to be regained then, the victim will get insurance coverage of up to two lakh.
  • In case the bima policyholder loses one foot. hand. leg. sight or eye, a sum of one lakh rupees will be presented to him or her.

PM Suraksha Bima Yojana will be offered by?

The Pradhan Mantri Suraksha Bima Yojana will be offered by the Public division general protection associations through their interface ups with the different banks A couple to name are National Insurance Company, New India Assurance Company, TheOriental Insurance Company, and The United India Insurance Company The Indian Government is headed to connect up more backup plans for the same

Pradhan Mantri Suraksha Bima Yojana Premium:

PM Suraksha Bima Yojana falls under criteria that the individuals who are below the poverty line are free to get registered to the policy and that too on affordable terms and conditions. The premium fee for this Suraksha Bima plan initiated by the government of India is not more than the amount of twelve rupees and that too on a yearly basis for all every member of this scheme. This sum of rupees 12 will be deducted from the savings bank account of the policyholder and that too with auto-debit facilitation in the month of June on a yearly basis.

If by some means, the required payment could not be automatically debited from the savings account of the policyholder on or before 01stof June, the processing for this government scheme will get started only after the auto-debit procedure has been completed on the account. As anticipated, the premium amounts would stay equally low for a minimum of a few upcoming years.

Pradhan Mantri Suraksha Bima Yojana Eligibility criteria:

  1. Given below are a few facts linked to the must-haves for getting the benefits of a policy under Pradhan Mantri SurakshaBima Yojana:
  2. The minimum required age limit to get yourself enrolled to the PM Suraksha Bima Yojana is eighteen to seventy years The candidate should have crossed the age of eighteen years Adding more to this point, he or she should not be more than seventy years of age.
  3. The candidate should own a savings bank account in any of the banks located in India.
  4. The candidate should give written approval for the facility of auto-debit to pay premiums of the scheme.

Pradhan Mantri Suraksha Bima Yojana Facts and Features:

Listed below are a few of the aspects of the beneficial Suraksha Bima Yojana:

  • The government scheme has to be renewed on a yearly basis with a one year cover once.
  • These organizations should be enthusiastic about putting forward a scheme that is exactly same as the one, which is declared under the Pradhan Mantri Suraksha Bima yojana. The organizations should have a satisfactory number of approvals and link-ups for this plan.
  • The concerned Banks will have a free hand in appointing any insurance organization that is interested in putting forward the scheme

Pradhan Man tri Suraksha Bima Yojana Coverage:

  • If the concerned person owns more than one saving account then, he/she would be permitted to register just for one insurance scheme, which will be linked to one of his/her saving accounts
  • The Aadhaar Card will be taken as the most important client document needed for getting linked with the scheme.
  • The amount of premium for this Bima Yojana will be debited automatically from the saving account of the subscriber
  • For the first year, that is 2015, the candidates who are interested in getting themselves enrolled this yojana can get it done before the 30th of November this year (2015).
  • In case a policyholder drops down the scheme during some year, he/she is free to rejoin the scheme in upcoming years with the exact same terms and conditions

Pradhan Mantri Suraksha Bima Yojana Cancellation:

In the case of the below-mentioned conditions, the accident cover of the Bima policyholder will be right away terminated and no benefits will be paid from then on:

In the case of the below-mentioned conditions, the accident cover of the Bima policyholder will be right away terminated and no benefits will be paid from then on:

. In case the policyholder reaches 70 years of age.

. In case the candidate shuts his/her saving account or is not capable of going on with the payment of premium timely or unable to maintain the minimum required balance in his/her saving account

. In case the policyholder wants to go for multiple policies under the scheme, the other policy apart from the oldest will be concluded

. In case the required premium amount was not paid because of inadequate cash balance in his/her saving account, the Bima policy will be stopped till a period when the candidate pays the required amount of policy premiums

The Pradhan Mantri Suraksha Bima Yojana is a beneficial scheme that is particularly initiated to get the uninsured people into the normal insurance services facilities The Bima Yojana by Pradhan Mantri is much in line with the celebrated PM Jan Dhan Yojana and is, in fact, a prolongation of the last government scheme If the scheme goes well, at least the people who are living below the poverty line in remote areas will have a sigh of reprieve in case some accident takes place.

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