Life Insurance Corporation of India

  • Home
  • Policy Status
  • Premium Calculator
  • Online Payment
  • What is Lic Nav?
  • हिन्दी
Home » Lic General » Pradhan Mantri Suraksha Bima Yojana Scheme

Pradhan Mantri Suraksha Bima Yojana Scheme

April 1, 2016 By onlinelic

Contents

  • 1 Pradhan Mantri Suraksha Bima Yojana Scheme Introduction
  • 2 Government Pradhan Mantri Suraksha Bima Yojana Scheme Eligibility Conditions
  • 3 Government PMSBY Scheme Benefits
  • 4 PM Suraksha Bima Yojana Scheme Key features
  • 5 PM Suraksha Bima Yojana Scheme Enrollment period
  • 6 Termination of Cover
  • 7 Pradhan Mantri Suraksha Bima Yojana Scheme Forms and Documents

Pradhan Mantri Suraksha Bima Yojana Scheme Introduction

Pradhan Mantri Suraksha Bima Yojana Scheme was announced by Honourable Finance Minister in the year 2015-16. PMSBY Government Scheme provides Accidental Death insurance Cover at very low premium per annum. In case of death of scheme holder due to an Accident then insurance cover is provided to Scheme holder’s family by the Government of India. This PMSBY scheme provides death insurance cover for only one year which can also be renewable from year to year with low premium.

Pradhan Mantri Suraksha Bima Yojana Scheme

PMSBY life insurance cover scheme will start from 01 June 2015 to 31 May 2016. The Annual Premium payable by Account holder is Rs.12 only which is valid for 1 year. Under this PMSBY Govt’s scheme Rs.2,00,000 is payable to scheme holder’s family in case of death due to Accident.

Government Pradhan Mantri Suraksha Bima Yojana Scheme Eligibility Conditions

Entry Age
  • Minimum – 18 years (completed)
  • Maximum – 70 years (Age Nearer birthday)
Period
  • 1 year (Renewable from year to year).
Premium
  • Rs.12 per annum plus service tax as applicable.
Date of Implementation
  • 1st June 2015
Mode of Paying Premium
  • Directly Auto-debited by the bank from the Account holder’s account in one instalment.
Primary KYC 
  • Aadhar number.
Tax benefits
  • Premium paid towards this scheme is eligible for tax deduction under section 80C.

Government PMSBY Scheme Benefits

Under this PMSBY Scheme one time Premium is paid yearly ie., Rs.12 per annum. In case of any unfortunate death of Scheme holder due to Accident then Benefits covered under this one year premium are given below

Type of Accident Sum Insured
Death Rs.2,00,000
Total and irrecoverable loss of both eyes or loss of use of both hands or feet or loss of sight of one eye and loss of use of hand or foot Rs.2,00,000
Total and irrecoverable loss of sight of one eye or loss of use of one hand or foot Rs. 1 Lakh

PM Suraksha Bima Yojana Scheme Key features

Main Key Features of Government Pradhan Mantri Suraksha Bima Yojana Scheme are as follows

  • One year Renewable Accidental Death Insurance Cover
  • One time Annual premium is payable i.e., Rs.12 per subscriber.
  • On death of Account holder due to accident, Rs.2 lakhs is payable.
  • Premium will be deducted annually from scheme holder’s savings bank account through ‘auto debit’ facility in one installment on or before 31st May every year.
  • Terms of Risk Coverage: Scheme holder has to opt for this PMSBY scheme every year. He can also prefer to give a long term option of continuing in which case his account will be auto-debited every year by the bank.

PM Suraksha Bima Yojana Scheme Enrollment period

  • All Scheme holders who are interested towards this PMSBY scheme are required to enroll and give their auto-debit consent by 31 May 2015.
  • Late Enrollment for prospective cover will be possible up to 31 August 2015. Government had extended the enrollment for another 3 months, i.e. upto 31 Nov 2015.

Termination of Cover

  • Scheme holder attains age of 70 years (Age nearest birth day).
  • Closure of bank account or insufficiency of account balance to keep the insurance cover in force.
  • In case a member is covered through more than one account and premium is received by the Insurance Company, insurance cover will be restricted to one only and the premium shall be liable to be forfeited.

Pradhan Mantri Suraksha Bima Yojana Scheme Forms and Documents

Required documents for Government PMSBY Scheme are attached below

Pradhan Mantri Suraksha Bima Yojana Scheme 1

Pradhan Mantri Suraksha Bima Yojana Scheme 2

PMSBY Application form in English

PMSBY Application form in Hindi

PMSBY Application form in Malayalam

PMSBY Claim form

PMSBY FAQ’s

Filed Under: Lic General Tagged With: Government Scheme, PM Suraksha Bima Yojana Scheme, PMSBY Scheme, Pradhan Mantri Suraksha Bima Yojana Scheme

Lic Types of Insurance

  • LIC Money Back Plans Review
  • LIC Endowment Plans Review
  • LIC Term Insurance Plans Review
  • LIC Pension Plans Review
  • LIC Child Plans Review

Lic Endowment Plans

  • Lic New Endowment Policy 814
  • LIC New Jeevan Anand Policy 815
  • LIC Jeevan Rakshak Policy 827
  • Single Premium Endowment 817
  • Limited Premium Endowment
  • Lic Jeevan Sangam Policy 831
  • LIC Jeevan Lakshya Plan 833
  • Lic Jeevan Saral Policy 165

Lic Money Back Plans

  • Lic Money Back Plan 25 years 821
  • Lic Money Back Plan 20 years 820
  • LIC Jeevan Shagun Policy 826
  • Lic New Bima Bachat policy 816
  • Lic children money back Plan 832
  • LIC Jeevan Tarun Policy 834

Lic Term Insurance Plans

  • LIC Amulya Jeevan 2 plan 823
  • LIC Anmol Jeevan-II Policy 822
  • LIC E TERM POLICY 825

Lic Pension Plans

  • LIC New Jeevan Nidhi Policy 818
  • LIC Jeevan Akshay 6 Policy 810
  • Varishtha Pension Bima Yojana

Lic Health Plans

  • Lic Jeevan Arogya Policy Review

Lic Calculators

  • Amulya Jeevan 2 Calculator
  • Anmol Jeevan 2 Calculator
  • e Term Policy Premium Calculator
  • Money Back 20 years calculator
  • Money Back 25 Years calculator
  • Children Money Back Calculator
  • Jeevan Shagun Calculator
  • Lic Limited Endowment calculator
  • Lic New Endowment Calculator
  • Lic Jeevan Anand Calculator
  • LIC New Bima Bachat Calculator
  • LIC Jeevan Lakshya Calculator
  • Lic Jeevan Sangam Calculator
  • Lic Single Endowment Calculator
  • Jeevan Tarun Premium Calculator

Lic General Information

  • Services Provided by Lic of India
  • Steps for LIC Login
  • Atal Pension Yojana Scheme
  • PMJBY Scheme
  • PMSBY Scheme
  • LIC Policy Status
  • LIC Policy Status by SMS
  • LIC Policy Status through Phone
  • Lic Transaction Status Procedure
  • Life Insurance Corporation of India
  • What is Lic Nav?
  • LIC Online Payment
  • LIC Premium Calculator
  • Lic Maturity Calculator
  • Lic Surrender Value Calculator
  • Details of Best Lic Policy
  • What are Lic Policy Tax Benefits

Categories

  • Hindi (14)
  • Lic Agent (4)
  • LIC Branches (400)
  • LIC Calculators (15)
  • Lic Endowment plans (11)
  • Lic Endowment Plans (5)
  • Lic General (11)
  • Lic Health Plans (1)
  • LIC Money Back Plans (7)
  • Lic Money Back Plans (5)
  • Lic Pension Plans (1)
  • LIC Pension Plans (3)
  • Lic Term Insurance Plans (3)
  • Lic Term Insurance Plans (5)
  • National Insurance (1)
  • New India Assurance (1)
  • Oriental Insurance (1)
  • United India Insurance (1)

Lic Agents Portal

  • LIC Agent Benefits Review
  • Mediclaim For Club Member
  • LIC Club Membership Benefits
  • LIC Agent Commission Chart

General Insurance Pages

  • National Insurance
  • United India Insurance
  • Oriental Insurance
  • New India Assurance

Copyright © 2023 · Magazine Pro Theme on Genesis Framework · WordPress · Log in