Accident CoverGovt / PSU BackedAll IndiaEst. 2015

PMSBY Accidental Insurance Enrollment via India Post Payments Bank (IPPB)

Official PMSBY registration and claim disbursement guide for India Post Payments Bank (IPPB) account holders.

Sum Insured / Cover

₹2 Lakh Accidental Death & Disability

Annual Premium

₹20 / year (Auto-debit from Account)

Claim Settlement

96.4% (Direct Nominee DBT)

Network / Scope

All-India Empaneled

✦ Key Benefits & Policy Coverage

Direct online auto-debit registration for PMSBY through India Post Payments Bank (IPPB) savings account. Provides guaranteed ₹2 Lakh accidental death / total permanent disability compensation.

What is Missing: Critical Policy Exclusions & Limitations

Eligo disclosure: Private insurance agents and official ads rarely mention these limitations. Verify before relying on this coverage.

Zero cover for natural death or medical treatment bills. Policy terminates at age 70. Requires active auto-debit consent with minimum ₹20 balance in account on May 31.

✦ Eligibility Requirements

Savings bank account holders in India Post Payments Bank (IPPB) aged between 18 and 70 years with linked Aadhaar.

✦ Application, Enrollment & Claims Process

1. Access IPPB Mobile App -> Insurance or via Doorstep Postman Micro-ATM. 2. Authorize ₹20 annual auto-debit mandate. 3. Nominee details auto-populated or entered. 4. Instant confirmation slip and policy certificate generated.

Official Government / PSU Portal

Apply or verify on the official administrative domain

Official Portal