Pradhan Mantri Suraksha Bima Yojana (PMSBY): Medical emergencies can strike without warning, and with rising medical costs, it’s not easy for everyone to manage.
But with a small yearly investment of just ₹20, you can get an accidental insurance cover of ₹2 lakh under this government scheme—the Pradhan Mantri Suraksha Bima Yojana (PMSBY).
Who Can Avail the Scheme?
Anyone who is:
Between 18 and 70 years of age, and
Has a savings account in a bank
…is eligible for PMSBY. The ₹20 premium is deducted automatically from your account every year, if your bank account is linked to the scheme. The insurance needs to be renewed annually.
What Is Covered Under the Scheme?
This scheme specifically covers accidental cases:
In case of accidental death or full disability, the nominee/family receives ₹2 lakh.
In case of partial disability, the insured person gets ₹1 lakh.
How to Apply?
To join the scheme, follow these steps:
Visit your bank branch where you have a savings account.
Ask for the PMSBY application form.
Fill out the form and submit it along with the required documents.
Only those with savings accounts are eligible to apply.
Why This Scheme Matters
This ₹20-a-year insurance is a big relief for low-income families and people working in the unorganized sector who may not afford regular health insurance.
It offers a basic financial safety net to protect you and your family during unexpected accidents.
