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CentralSocial WelfareCentral Scheme

PM Suraksha Bima Yojana (PMSBY)

Managed by: Ministry of Finance (Department of Financial Services)

Apply via Official Portal Track Application

About the Scheme

Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a government-backed personal accident insurance scheme offering Rs. 2 Lakh accidental death and disability coverage for an annual premium of just Rs. 20, available to all savings bank account holders aged 18 to 70 years.

Welfare Benefits & Assistance

•Accidental death cover of Rs. 2 Lakh payable to the nominee
•Total permanent disability cover of Rs. 2 Lakh (loss of both eyes, both hands, both feet, or loss of one eye and one hand/foot)
•Partial permanent disability cover of Rs. 1 Lakh (loss of one eye, or loss of one hand or foot)
•Annual premium of only Rs. 20 — the cheapest personal accident insurance scheme in India
•Auto-debit from bank account; no repeated paperwork needed for annual renewal

Eligibility Criteria

State ResidencyMust be an Indian citizen

Age Limits18 to 70 years

Family Income CapNo income restriction; open to all savings bank account holders

Social Class / CategoryOpen to all categories

Additional Prerequisites

Must hold an individual savings bank account or post office savings account
Must give consent for auto-debit of the annual premium of Rs. 20 from the linked account
Can join through only one bank or post office account
Coverage period runs from June 1 to May 31 each year, renewable annually

Documents Required for Application

Aadhaar Card (linked to the savings bank account)Savings Bank Account Passbook or Post Office Account detailsConsent-cum-Declaration Form (available at bank branch or net banking)Nominee details (name, relationship, Aadhaar of nominee)Mobile Number linked with bank account

Tip: Keep scanned color copies of these documents ready before starting your online application.

How to Apply (Step-by-Step Guide)

Navigate to the 'Social Security Schemes' or 'Jan Suraksha' section

Select 'PMSBY' and provide consent for auto-debit of Rs. 20 annually

Enter nominee details and submit the enrollment form

Confirmation SMS will be sent to your registered mobile number

Who Should Apply?

✓All Indian citizens aged 18-70 who want affordable accidental death and disability insurance
✓Workers in hazardous occupations (construction, transport, factory) needing accident coverage
✓Families looking for basic financial protection against accidental loss at minimal cost

Who Should NOT Apply?

✗Persons above 70 years of age
✗Individuals already holding comprehensive personal accident insurance policies
✗Persons without an active savings bank account or post office account

Common Rejection Reasons

•Insufficient balance in bank account for auto-debit of Rs. 20 premium on June 1
•Death or disability not caused by an accident (natural causes are not covered)
•Claim filed after the policy lapsed due to non-payment of premium
•Disability is temporary and not permanent in nature

Recent Updates & Changes

»2022: Premium revised from Rs. 12 to Rs. 20 per annum
»2026: Over 35 crore active subscribers enrolled under PMSBY nationally
»2015: Scheme launched by PM Modi as part of the Jan Suraksha initiative

Frequently Asked Questions (FAQs)

What is the premium for PMSBY?

The annual premium is only Rs. 20, auto-debited from your savings bank account around June 1 each year.

What does PMSBY cover?

PMSBY covers accidental death (Rs. 2 Lakh), total permanent disability (Rs. 2 Lakh), and partial permanent disability (Rs. 1 Lakh).

Does PMSBY cover natural death?

No. PMSBY only covers death and disability caused by accidents. For natural death coverage, you should enroll in PMJJBY (Rs. 436/year).

What is the difference between PMJJBY and PMSBY?

PMJJBY (Rs. 436/year) covers death due to any cause including natural death. PMSBY (Rs. 20/year) covers only accidental death and disability. Both can be taken together.

Can I claim PMSBY if I lose one eye in an accident?

Yes. Loss of sight in one eye due to an accident is classified as partial permanent disability, eligible for Rs. 1 Lakh compensation.

Related Welfare Schemes

Central Social Welfare

PM Jeevan Jyoti Bima Yojana (PMJJBY)

Who Can Apply

All Indian citizens aged 18-50 who hold a savings bank account and want affordable life insurance

Key Benefits

•Life insurance cover of Rs. 2 Lakh payable to the nominee in the event of the subscriber's death due to any cause (natural or accidental)
•Annual premium of only Rs. 436 — auto-debited from bank account, making it one of the cheapest term life insurance policies in India

Read Guide Official Link

Updated: July 2026Track Status

Central Banking