Pradhan Mantri Suraksha Bima Yojana (PMSBY): Benefits, Eligibility, Claim And Enrollment Process

Gaurav Seth
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Gaurav Seth

Pradhan Mantri Suraksha Bima Yojana (PMSBY)

The government of India always comes with beneficial welfare schemes for its people belonging to different groups of society. The Pradhan Mantri Suraksha Bima Yojana i.e. PMJBY is one such scheme. It is an accident insurance policy that was launched back in 2015 along with the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). In this article, we will be discussing the scope, benefits, eligibility, enrollment process, etc. Let’s get started!


PMSBY, often known as the PM’s Rs. 12 Insurance Scheme is directed towards people belonging to lower-income strata. The reason behind this is it does not charge hefty premiums as done by other health insurance policies. This policy offers an insurance cover against partial disability, total disability, and death by an accident. The insurance premium for the policy is Rs 12 and shall be deducted from the registered bank account of the policyholder. 


Minimum Age

Maximum Age 

18 Years

70 Years

Bank AccountMust have an active Saving bank account with Aadhar integration
Premium Rs. 12 Per annum
Can NRI Join?Yes, provided that any claims will be paid to the beneficiary of the policy should be in Indian Currency.


  1. Aadhar Card:

In case the applicant’s savings bank account is not integrated with the Aadhar card, he/she should submit a copy of the Aadhaar Card. The same shall be accompanied by the application form.

2. Application Form:

Duly filled application form with numerous details such as Aadhar number, contact, and nominee details among others shall be submitted. 


Event Claim Amount in Rs.
An accident leading to policyholder’s demise2,00,000
Total disability (Permanent)2,00,000
Partial Disability (Permanent)1,00,000
  • As mentioned in the table, this policy only covers accidents and permanent disability. However, there are certain restrictions when it comes to the cause of death and the nature of the disability. Temporary disabilities shall not be covered unless specified otherwise. Death by suicide is also not covered.
  • Permanent Total Disability has been defined as a total or irrecoverable loss of both eyes, or use of both feet, or hands.
  • Permanent Partial Disability has been defined as a total or irrecoverable loss of one eye, or use of a hand, or foot.


  1. Claim Settlement:

A subscriber friendly and very simple claim settlement process and administration have been set up to ensure a hassle-free claim settlement.

2. Focus:

The sole focus of this policy is to provide insurance cover to the weaker sections of society and to ensure their family’s financial security.

3. Nominee Facility:

The settlement will be made to the bank account of the nominee in case of death of the insured.

4. Infrastructure:

A web-based structure is in the process of being built to keep the policyholder and claimants informed about the status of the claim, progress, until it is settled.

5. Risk Coverage:

As mentioned above in the table, Rs. 2,00,000 risk cover is provided for permanent total disability and accidental death and Rs. 1,00,000 is provided for permanent partial disability.


  • Allahabad Bank
  • Axis Bank
  • Bank of India
  • Bank of Maharashtra
  • Bhartiya Mahila Bank
  • Canara Bank
  • Central Bank
  • Corporation Bank
  • Dena Bank
  • Federal Bank
  • ICICI Bank
  • HDFC Bank
  • IDBI Bank
  • IndusInd Bank
  • Kerala Gramin Bank
  • Kotak Bank
  • Oriented Bank of Commerce
  • Punjab and Sind Bank
  • Punjab National Bank
  • State Bank of Hyderabad
  • South Indian Bank
  • State Bank of India
  • State Bank of Travancore
  • Syndicate Bank
  • United Bank of India
  • Union Bank of India
  • Vijaya Bank


One can enroll oneself in this policy by approaching any affiliated insurance company or bank. The form can also be downloaded from the government website.


This process can be initiated by sending a message on the onboarding organization’s toll-free number or by using the respective internet banking facility.

Here’s how one can initiate the policy using the net banking facility:

  1. Log in to the net banking portal of the respective bank.
  2. Click on the insurance tab.
  3. Identify the account to be used to pay the premium.
  4. Check the details and submit.
  5. Note the stated reference number and Download receipt.

Here’s how one activate the policy using the SMS facility

  1. Receive activation SMS
  2. Reply to the same with ‘PMSBY Y’.
  3. Receive a message acknowledging the receipt.
  4. Bank will handle the processing of information from the back-end of the accounts.


One can raise a claim against this policy in case of total or partial disability. In case of death, the nominee can file a claim. If there is no nominee, then the claim amount shall be transferred to the legal heir of the policyholder. Here is the process.

  • Nominee/Policyholder should reach out to the insurance company or the bank from where the policy was initiated to raise a claim.
  • Get the claim form and duly fill it. It will include details such as name, contact information, address, info of the hospital, etc. The policy claim form can be downloaded from the website for free.
  • Submit the form with the relevant supporting documentation such as a death certificate or disability certificate in case the claim is raised by the nominee.
  • Step 4 – The company will confirm the details.
  • Step 5 – If the documents are proper and verified, the amount will be transferred to the bank account and the claim will be settled.


One can renew this policy by enabling the auto-debit facility. This way, the premium amount will be automatically debited from a bank account and the policy shall be renewed. One can renew the policy on a yearly basis, and the tenure lies between June 1 and May 31. Thus, before the end of May month, the policy should be renewed. If one isn’t willing to renew, he may have to send a cancellation request to the respective bank.


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