Pradhan Mantri Suraksha Bima Yojana: Accidental Insurance Scheme for All

Apr 28
08:20

2016

Yog Choudhary

Yog Choudhary

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The union government of India has launched Pradhan Mantri Suraksha Bima Yojana which is an accidental insurance scheme for all. The scheme provides an accidnetal cover of Rs. upto 2 lakh to the beneficiary who covered under the scheme and the premium of the scheme is only Rs. 12 for annual.

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An initiative has been taken by the union government towards the accidental insurance. In the mid of 2015,Pradhan Mantri Suraksha Bima Yojana: Accidental Insurance Scheme for All Articles the union government has launched accidental-death insurance scheme to provide the benefits to the families of those who lost their life in accidents.

If we compare our country India from other countries in any kind of insurance then we are at very lower level. According to the information, only 20 percent people of total population in India has any kind of insurance and the government launched this scheme to increase this percentage.

Name of the scheme is ‘Pradhan Mantri Suraksha Bima Yojana (PMSBY)’ initiated by the Prime Minster Narendra Modi.

The benefits of the scheme can be availed by any people belonging to any cast or any category. The scheme was launched by keeping in mind to provide benefits to the people belong to BPL (Below Poverty Line) or under-privileged and for those who can’t afford any kind of insurance plan from private or public sector companies.

Suraksha Bima Yojana is welfare scheme for the people who are not taking any benefit of any kind of insurance scheme, especially in rural area of the nation.

In this Suraksha Bima Yojana, the government is providing an accidental death cover of upto Rs. 2 lakh. This amount of Rs. 2 lakh will be given to the nominee, if the beneficiary will be died in the accident or got permanent disability or irrecoverable and total loss of both hands, both eyes or sight or one leg or foot. In the second case, if the person who covered under the scheme got partial disability such as lost of one leg, hand, foot or eye, then the government will provide a sum of Rs. 1 lakh to the beneficiary or to his/her nominee. The insurance amount will be surely given to the beneficiary or to its nominee.

To avail the benefit of the scheme, the interested one have to pay only and only twelve rupees annual to get covered under the Suraksha BIma Yojana. It is one of the biggest advantage of the scheme, even the poorest of the poor can also afford the premium of the scheme. Once the beneficiary availed the scheme, an amount of Rs. 12 will be auto debited from the saving bank account of the beneficiary and the amount will be auto debited from the policy holder’s saving bank account on or before 31st May for the next coverage period from 1st June to 31st May on an annual renewal basis.

The interested one who want to apply for the scheme should have an age in between 18 year to 70 years. The beneficiary should have saving bank account and will have to sign a consent of letter for the auto debit of policy premium.

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