Accident CoverGovt / PSU BackedAll IndiaEst. 2015

Pradhan Mantri Suraksha Bima Yojana (PMSBY) — National Core

Central Government personal accident insurance providing ₹2 Lakh death/disability coverage for ₹20 per year.

Sum Insured / Cover

₹2 Lakh Accidental Death / Total Disability

Annual Premium

₹20 per year (Auto-debit from Bank)

Claim Settlement

96.4% (General Insurers Public Sector Association)

Network / Scope

All-India Empaneled

✦ Key Benefits & Policy Coverage

₹2,00,000 for accidental death or permanent total disability (total loss of both eyes, both hands, or both feet). ₹1,00,000 for permanent partial disability (loss of one eye, one hand, or one foot). Valid for 1 year (1st June to 31st May) with automated bank auto-debit renewal.

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.

Natural deaths, heart attacks, stroke, suicide, and deaths caused by disease or intoxication are strictly EXCLUDED (enroll in PMJJBY for natural death). Hospitalization treatment expenses and medical bills are NOT reimbursed; only a fixed lump sum is paid for death or certified permanent disability.

✦ Eligibility Requirements

Citizens aged 18 to 70 years holding an active savings bank or post office account with an active auto-debit consent mandate.

✦ Application, Enrollment & Claims Process

1. Visit bank branch or log in to mobile / internet banking app. 2. Navigate to 'Government Social Security Schemes' -> 'PMSBY'. 3. Select account, nominate beneficiary, and authorize ₹20 annual debit. 4. Instant confirmation slip and policy number generated.

Official Government / PSU Portal

Apply or verify on the official administrative domain

Official Portal