Pradhan Mantri Suraksha Bima Yojana (PMSBY) – Complete Details

Pradhan Mantri Suraksha Bima Yojana (PMSBY) - each and every detail with  step by step instructions. The scheme is very beneficial for everybody who want to do its insurance in minimam premium.

To be financially insured is the most important thing in life as everything of your family depends on it. It’s very important to be financially insured in case when something mishap happens with you and you  left at least some money which would be beneficial for your family.

Pradhan Mantri Suraksha Bima Yojana is a stepping stone to financially help the families which are living below poverty line. It’s basically an accidental benefit scheme which is renewable each year.

Here are the few important things about the policy:

• Eligibility: 18-70 years of age having savings account in any bank, if having multiple savings account the policy you can take only for one account. Even NRIs can take the policy but the premium will be paid in Indian currency only.
• Premium: Rs. 12 per annum means 12 Rs emi per year which will be auto debited from your savings account around June 1st week.
• Risk Coverage: Total coverage (sum-insured) under the scheme is Rs. 2 Lakh. Two lakhs is for death benefits as well as if a person is completely disabled that means irrecoverable or loss of both eyes, hands or legs. In case of partial loss or partial disability  meaning loss of one eye, leg or hand the sum assured will be 1 Lakh.
• Documents Required: Aadhaar card linked with savings bank account is required along with filled application form.
• How to Enrol: By submitting the application form with Aadhaar card copy in the bank, or by sending SMS, or by netbanking as some banks provide this facility.

  

Application form you can easily get on there website

• Cancellation of the scheme: Policy holder reaches 70 years of age, if person closes his savings bank account, If policy holder goes for multiple policies under same scheme,if premium is not paid on time the BIMA will stopped till the time premium is paid.

Claim Process:

PMSBY claim process is like claiming other insurance from either private or governmental bank. You need to be prepare with each supporting document and must inform bank. Below steps can be summarized as claim process of Pradhan mantri suraksha Yojana.

• Need to inform the bank regarding accident.
• Claim should be submitted to the Bank from which PMSBY has been bought.
• Claim Form should be submitted within 30 days after incidence.
• Submit claim supporting document like FIR, death certificate, report of post mortem, disability certificate (if any) and the discharge certificate.
• After Verification Bank will provide insurance amount to nominee or legal heir.

Pradhan Mantri Suraksha Bima Yojana scheme involves numerous banks and insurance companies.

Participating banks

1. Allahabad Bank
2. Axis Bank
3. Bank of India
4. Bank of Maharashtra
5. Bharatiya Mahila Bank
6. Canara Bank
7. Central Bank
8. Corporation Bank
9. Dena Bank
10. Federal Bank
11. HDFC Bank
12. ICICI Bank
13. IDBI Bank
14. IndusInd Bank
15. Kerala Gramin Bank
16. Kotak Bank
17. Oriental Bank of Commerce
18. Punjab and Sind Bank
19. Punjab National Bank
20. South Indian Bank
21. State Bank of Hyderabad
22. State Bank of India
23. State Bank of Travancore
24. Syndicate Bank
25. UCO Bank
26. Union Bank of India
27. United Bank of India
28. Vijaya Bank

Participating Insurance companies

1. Bajaj Allianz
2. Cholamandalam MS
3. ICICI Lombard
4. National Insurance
5. New India Assurance
6. Reliance General Insurance
7. United India Insurance
8. Universal Sompo

Enrolling in scheme by sending SMS

ICICI Bank – Sending SMS to Enroll in Suraksha Bima Scheme

ICICI Bank account holders need to compose SMS in following format

PMSBY <Nominee name> Y to 5676766

Example – MS PMSBY Rajesh Kumar Y to 5676766

Axis Bank – SMS Format and Number

Axis Bank Account holders need to compose following SMS

PMSBY to 9717000002

Kotak Bank – Sending SMS to join PMSBY

Kotak Bank Account holders need to compose following SMS from their registered mobile number

SMS SURAKSHA <nominee name> to 5676788

Example – SURAKSHA Rajesh Kumar to 5676788

HDFC Bank holders

Send SMS PMSBY Y to 5676712 from your registered mobile number. Premium amount will be auto-debited from your HDFC Bank Savings account.

Features of SMS Facility

Consumer needs to just send an SMS from registered mobile number

After receiving the request bank will activate the scheme

The premium amount will be deducted automatically from the bank account

                                                                 ARTICLE BY -- NAMO TEAM SHAHABAD

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