Pradhan Mantri Suraksha Bima Yojana(PMSBY)

The Pradhan Mantri Suraksha Bima Yojana  ( PMSBY ) is a government financed accident insurance scheme launched by Prime Minister Narendra Modi on 8 May in Kolkata.

Eligibility Criteria of PMSBY ( Pradhan Mantri Suraksha Bima Yojana ):-

Check Pradhan Mantri Suraksha Bima Yojana Eligibility

The eligibility criteria for (PMSBY) Pradhan Mantri Suraksha Bima Yojana is mentioned below :-

  1. The minimum age requirement for Pradhan Mantri Suraksha Bima Yojana is 18 years.
  2. The maximum age requirement for PMSBY is 70 years.
  3. Those who have a savings bank account & coming under the age group of 18 – 70 years are eligible to subscribe to the  PMSBY.
  4. The bank account should be linked with the Aadhaar card of that particular individual .
  5.  If the bank account is not linked with the Aadhaar card, then the Aadhaar card copy must be attached with the application form.
  6. If the individual has more than 1 savings account then He / She is only eligible to join the scheme through a single bank account.
  7. Premium to be paid is Rs.12 yearly.
  8. The premium amount is automatically debited from the insured’s bank account.
  9. The scheme is justifiable for a year and it can be renewed at the end of the year.
  10. The primary KYC ( know your costumer )  document required is the applicant’s Aadhaar card.

Premium Amount on PMSBY ( Pradhan Mantri Suraksha Bima Yojana ) :-

The premium amount is Rs.12 per annum per member & will be auto-debited from the account of the holder. The premium is a nominal amount to uplift the weaker sections to participate in the scheme. The amount will be debited on or before June 1st; if it is debited after June 1st, then the cover shall commence on the date of auto-debit.

The Period of Enrollment :-

The period of enrolment for Pradhan Mantri Suraksha Bima Yojana  is starting from June 1st – May 31st of the ensuing year, i.e a period of one year. The command for auto-debit has to be given to the bank by May 31 every year. It is a yearly scheme, and hence the individual must provide sanction for auto-debit before May 31 of ensuing years.

How to apply for the PMSBY ( Pradhan Mantri Suraksha Bima Yojana )  ?

The PMSBY is recommended and organized by the Public Sector General Insurance Companies (PSGICs) and other general insurance companies in alliance / associated with the participating banks. The individual can register by contacting the affiliated bank or an insurance company or can download the form from the Government webpage  –

Suraksha Bima Yojana: Application/Consent Form ·


The participating banks are offering application to the scheme through SMS / net banking. The individual requires to submit the form and the Aadhar card.
The steps to enroll to the scheme through SMS are mentioned below :-

  1. The individual will receive the activation SMS.
  2. The individual should respond to the SMS as (  ‘PMSBY Y’ ).
  3. The individual will receive the acknowledgement message.
  4. The Bank will operate the request with the information available in the savings account.

Points to be noted:-

  1. The bank will examine the  details of the nominee, nominee relationship and date of birth from the savings account. In a case if  the information is not available then the individual will have to go to the nearest branch to apply for the scheme.
  2. In case of failure of the auto-debit transaction, the insurance cover terminates to be in force.

The following are the steps to enroll to the scheme through Net Banking:

  1. Login to the internet banking account.
  2. Click on Insurance.
  3. Recognize the account that will be used for paying the premium.
  4. Verify all the details and confirm.
  5. Download the acknowledgement and save it for further future reference.

What Is The Procedure For Raising A Claim?

In the event of an miserable incident like an accident, drowning, etc. then the same  should be reported to the police. In all other cases, the hospital record evidencing the event should be available.
In case of death, the claim can be filed by the nominee/ appointee as per the enrollment form / by the legal heirs in case of no nominee. The claim for disability will be credited in the bank account of that individual. In case of death, it will be credited to the bank account of the nominee or legal heir.
The claims form can be downloaded from the official website –

Pradhan Mantri Suraksha Bima Yojana (PMSBY) Claim Form [Download]

List of Participating Banks in Pradhan Mantri Suraksha Bima Yojana.

  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

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