Grahak Seva Kendra

Pradhan Mantri Suraksha Bima Yojana(PMSBY)

Pradhan Mantri Suraksha Bima Yojana is a government-backed accident insurance scheme in India that aims to provide affordable and accessible protection to citizens against death or disability caused by accidents.

The scheme was launched by Prime Minister Narendra Modi on 9th May 2015 as part of the social security initiatives of the government.

The scheme is open to all Indian citizens between the ages of 18 and 70 who hold a savings account with a participating bank.

To enroll in the scheme, the policyholder must submit a signed declaration along with a copy of their Aadhaar card to the bank.

The declaration must state that the policyholder is aware of the terms and conditions of the scheme.

The scheme is being offered by public sector general insurance companies or any other general insurance company who are willing to offer the product on similar terms with necessary approvals and tie up with banks for this purpose.

The risk coverage under the scheme is Rs. 2 lakh for accidental death and full disability and Rs. 1 lakh for partial disability.

Full disability means total and irrecoverable loss of both eyes loss of use of both hands or feet loss of sight of one eye and loss of use of hand or foot.

Partial disability means total and irrecoverable loss of sight of one eye or loss of use of one hand or foot.

Benefits of PMSBY

With a minimal premium amount, PMSBY offers coverage of up to Rs.2 lakhs for accidental demise and permanent disability.

In case of partial disability, policyholders can avail up to Rs.1 lakh as risk coverage. Compared to other insurance policies, the premium amount for PMSBY is quite reasonable.

This ensures that individuals from all income groups can easily afford the coverage.  PMSBY also provides tax benefits under Section 80C and Section 10(10D) of the Income Tax Act.

Both the premium amount and the insured sum of Rs.1 lakh are eligible for tax. individuals can enroll in PMSBY between June 1st and May 31st of each year.

However, the scheme’s coverage starts from the date of enrollment and ends on May 31st of the year.

Eligibility Criteria for PMSBY

First of all, individual bank account holders, whether joint or single, are eligible to apply for PMSBY. However, individuals with multiple bank accounts can only apply through one account.

In the case of joint account holders, both individuals will benefit from the scheme. The scheme is open to individuals between the ages of 18 and 70. This ensures that a wide range of people can access the coverage.

The scheme also requires Aadhaar as the primary KYC for the bank account. The nominee of the account holder will receive the benefit in case of death or disability due to an accident.

The claim process is simple and hassle-free, as the nominee or the beneficiary can approach the bank where the insured person had an account, fill up a simple form, and submit it along with a death certificate or disability certificate.

If you are looking for an affordable and easy-to-enroll accident insurance scheme, the Pradhan Mantri Suraksha Bima Yojana is a great option. It is a step towards creating a more financially secure society.


As we all Know, Pradhan Mantri Surakha Bima Yojana (PMSBY) is focused to provide insurance coverage for death due to accident to all the citizen of India especially unorganized sector workers with motto of “Jan-Dan se Jan Surakhsa”.

If you also want to take any govt schemes or looking for more detailed information plan then CSC Registration is at the forefront of providing this facility to you.

Apply For CSC as we offers a wide range of govt services to all our people across globe and through all these schemes Government of India is planning to secure life for the poor people, they also know that the mortality rate is very high especially unorganized sector workers due to not able to maintain a healthy life.

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