Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a government-run insurance scheme that was launched by the Indian government in 2015. The scheme is aimed at providing insurance coverage to people belonging to the unorganized sector, which includes people like farmers, laborers, and workers in the informal sector. The scheme is available to people between the age of 18 and 70 and provides coverage of up to Rs. 2 lakhs in case of accidental death or permanent disability.
What is Pradhan Mantri Suraksha Bima Yojana (PMSBY)?
PMSBY is a government-backed insurance scheme that aims to provide insurance coverage to people belonging to the unorganized sector. The scheme is available to people between the age of 18 and 70 and provides coverage of up to Rs. 2 lakhs in case of accidental death or permanent disability. The premium for the scheme is only Rs. 12 per annum, making it one of the most affordable insurance schemes in India.
How to apply for Pradhan Mantri Suraksha Bima Yojana (PMSBY)?
To apply for PMSBY, you need to follow these steps:
- Step 1: Visit the bank where you have your savings account.
- Step 2: Fill up the application form for PMSBY.
- Step 3: Submit the form along with a self-attested copy of your Aadhaar card.
- Step 4: Pay the premium of Rs. 12 for the scheme.
Once your application is processed, you will receive a confirmation message from the bank. The insurance coverage under PMSBY will be valid for one year from June 1st to May 31st.
Benefits of Pradhan Mantri Suraksha Bima Yojana (PMSBY)
Affordable Premium: The premium for PMSBY is only Rs. 12 per annum, making it one of the most affordable insurance schemes in India.
High Coverage: The scheme provides coverage of up to Rs. 2 lakhs in case of accidental death or permanent disability.
Easy to Apply: The application process for PMSBY is simple and can be done through any bank where you have a savings account.
No Medical Check-up Required: Unlike other insurance schemes, PMSBY does not require any medical check-up to avail of the benefits.
Tax Benefits: The premium paid for PMSBY is tax-deductible under Section 80C of the Income Tax Act.
Conclusion
Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a government-backed insurance scheme that aims to provide insurance coverage to people belonging to the unorganized sector. The scheme is affordable and easy to apply for, making it accessible to a large number of people. With high coverage and no medical check-up required, PMSBY is a great insurance option for people looking for affordable insurance coverage.