This Scheme was first published on the “Press Information Bureau, Government Of India” website and for more info, you can visit the “Press Information Bureau, Government Of India” website.

Pradhan Mantri Suraksha Bima Yojana - Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a social security scheme that the government of India announced in the 2015 Budget. Eligibility for Pradhan Mantri Suraksha Bima Yojana: Available to all Indian people in the age group 18 to 70 years with a bank account. The premium for Pradhan Mantri Suraksha Bima Yojana: is Rs.12 per annum. Premium Payment Mode for Pradhan Mantri Suraksha Bima Yojana: The premium will be directly auto-debited by the bank from the subscriber’s account. This is the only payment mode available. Risk Coverage for Pradhan Mantri Suraksha Bima Yojana: For accidental death and full disability - Rs.2 Lakh and for partial disability – Rs.1 Lakh.

Eligibility for Pradhan Mantri Suraksha Bima Yojana: Any person having a bank account and Aadhaar number linked to the bank account can give a simple form to the bank every year before the 1st of June in order to join the scheme. Name of nominee to be given in the form. Terms of Risk Coverage for Pradhan Mantri Suraksha Bima Yojana: A person has to opt for the scheme every year. He can also prefer to give a long-term option of continuing in which case his account will be auto-debited every year by the bank. Who will implement the Pradhan Mantri Suraksha Bima Yojana?: The scheme will be offered by all Public Sector General Insurance Companies and all other insurers who are willing to join the scheme and tie up with banks for this purpose.

Government Contribution for Pradhan Mantri Suraksha Bima Yojana: (i) Various Ministries can co-contribute premium for various categories of their beneficiaries from their budget or from the Public Welfare Fund created in this budget from unclaimed money. This will be decided separately during the year. (ii) Common Publicity Expenditure will be borne by the Government.

Application forms for Pradhan Mantri Suraksha Bima Yojana are available at the following link: http://www.jansuraksha.gov.in/Forms-PMSBY.aspx.
For more details, please visit the following website:http://www.jansuraksha.gov.in/