Pradhan Mantri Suraksha Bima Yojana (PMSBY) Gujarat

Pradhan Mantri Suraksha Bima Yojana (PMSBY) Gujarat : The Scheme is available to people in the age group 18 to 70 years with a bank account who give their consent to join / enable auto-debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis. Aadhar would be the primary KYC for the bank account. The risk coverage under the scheme isRs.2 lakh for accidental death and full disability and Rs. 1 lakh for partial disability. The premium of Rs. 12 per annum is to be deducted from the account holder’s bank account through ‘auto-debit’ facility in one installment. 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.

New Delhi: What’s good at Rs 12 these days? Even a cup of good tea costs Rs. Not found in 12. In such a situation, if the cost of insurance cover is only Rs 12, is it a matter of happiness? We are talking about the Prime Minister’s Security Insurance Scheme (PMSBY). This is a plan that is insuring the common man at a very low premium. The goal of the scheme in the days of this Koro epidemic is that even the poorest person in the country can get insurance so that there is no financial hardship during any accident in his life.

Pradhan Mantri Suraksha Bima Yojana is Indian Government's accidental insurance cover which was announced in the 2015 Budget. This scheme was launched to provide personal accident insurance to the high risk category such as mechanics, labourers, truck drivers which involves a lot of travelling. It is also one of the cheapest insurance cover. The scheme also covers both partial and permanent disability cover.

This scheme is available to those between the ages of 18 and 70 years and they must have a bank account. The annual premium of the scheme is Rs.12 excluding the service tax. The premium amount is automatically debited from the bank account of the scheme holder. Rs.2 lakh is paid to the nominee if the subscriber dies in an accident or if he is fully disabled. If the subscriber meets with an accident and suffers partial permanent disability, then Rs.1 lakh is paid.

Ways to Register Online for PMSBY?

• The customers can approach either one of the participating banks or insurance companies to opt for PMSBY
• Most of the reputed banks allow the subscribers to take the policy through internet banking
• The subscriber will have to log in to the Internet banking account and enroll for the scheme
• Subscriber can also send a message through their registered mobile number to the toll free numbers of the banks and the insurance companies.

How to Login PMSBY?

Here's how to login PMSBY Online:

•     Log in with your internet banking credential
•     Click on 'Insurance' section
•     Select Pradhan Mantri Suraksha Bima Yojana
•     Select the account through which you will pay the insurance premium
•     Click on 'Submit'

Steps for PMSBY Renewal

By using the auto-debit option, you can renew PMSBY. The premium will be deducted automatically from your bank account, and the insurance will be renewed in this manner. The policy will be renewed on an annual basis. The insurance is valid from 1 June to 31 May. So, you need to renew your policy before the end of May. You must send a cancellation request to the appropriate bank if you do not wish to renew.

How to Activate PMSBY SMS Facility?

The following steps will guide you in activating PMSBY SMS facility:

•     Visit your bank's website
•     Click on the PMSBY section
•     Enter your account number and Captcha code
•     Click on get One Time Password (OTP)
•     Provide all the requisite details
•     Click on 'Submit'

How to Activate PMSBY Internet Banking?

Here's how to use the internet banking service to activate the policy:

•     Login to your internet bank account
•     Click on "Insurance"
•     Select which account will be used to pay the premium.
•     Check the details and confirm
•     Download the policy receipt

List of Banks offering Pradhan Mantri Suraksha Bima Yojana scheme

Pradhan Mantri Suraksha Bima Yojana scheme involves numerous banks and insurance companies. The participating banks are as follows:

• Allahabad Bank
• Axis Bank
• Bank of India
• Bank of Maharashtra
• Bharatiya Mahila Bank
• Canara Bank
• Central Bank
• Corporation Bank
• Dena Bank
• Federal Bank
• HDFC Bank
• ICICI Bank
• IDBI Bank
• IndusInd Bank
• Kerala Gramin Bank
• Kotak Bank
• Oriental Bank of Commerce
• Punjab and Sind Bank
• Punjab National Bank
• South Indian Bank
• State Bank of Hyderabad
• State Bank of India
• State Bank of Travancore
• Syndicate Bank
• UCO Bank
• Union Bank of India
• United Bank of India
• Vijaya Bank

Participating Insurance companies are as follows

•  Bajaj Allianz
• Cholamandalam MS
• ICICI Lombard
• National Insurance
• New India Assurance
• Reliance General Insurance
• United India Insurance
• Universal Sompo

PMSBY Toll Free Number/Customer Care Number

The toll free number for different state and the names of the convenor banks are as follows:

State	Bank	Toll Free number
West Bengal and Tripura	United Bank of India	1800-345-3343
Uttarakhand	State Bank of India	1800-180-4167
Uttar Pradesh	Bank of Baroda	1800-102-4455 or 1800-223-344
Tamil Nadu	Indian Overseas Bank	1800-425-4415
Telangana	State Bank of Hyderabad	1800-425-8933
Sikkim	State Bank of India	1800-345-3256
Rajasthan	Bank of Baroda	1800-180-6546
Punjab	Punjab National Bank	1800-180-1111
Puducherry	Indian Bank	1800-4250-0000
Odisha	UCO Bank	1800-345-6551
Nagaland	State Bank of India	1800-345-3708
Mizoram	State Bank of India	1800-345-3660
Meghalaya	State Bank of India	1800-345-3658
Manipur	State Bank of India	1800-345-3858
Maharashtra	Bank of Maharashtra	1800-102-2636
Madhya Pradesh	Central Bank of India	1800-233-4035
Lakshadweep	Syndicate Bank	1800-4259-7777
Kerala	Canara Bank	1800-425-11222
Karnataka	Syndicate Bank	1800-4259-7777
Jharkhand	Bank of India	1800-345-6576
Himachal Pradesh	UCO Bank	1800-180-8053
Haryana	Punjab National Bank	1800-180-1111
Gujarat	Dena Bank	1800-255-885
Goa	State Bank of India	1800-2333-202
Delhi	Oriental Bank of Commerce	1800-1800-124
Daman and Diu	Dena Bank	1800-225-885
Dadra and Nagar Haveli	Dena Bank	1800-225-885
Chhattisgarh	State Bank of India	1800-233-4358
Chandigarh	Punjab National Bank	1800-180-1111
Bihar	State Bank of India	1800-345-6195
Assam	State Bank of India	1800-345-3756
Arunachal Pradesh	State Bank of India	1800-345-3616
Andhra Pradesh	Andhra Bank	1800-425-8525
Andaman and Nicobar Island	State Bank of India	1800-345-4545

The convenor bank is not the only bank in the state that allows you to subscribe to the PMSBY scheme, you can subscribe through the various participating banks.

Documents Required for Pradhan Mantri Suraksha Bima Yojana

The Pradhan Mantri Suraksha Bima Yojana application form is to be duly filled. The details to be filled are:

• Proof Id
• Aadhaar card
• Contact information
• Nominee details
• Application form (English, Hindi, Bengali, Marathi, Oriya, Telugu, Tamil or Gujarati).

The only document that has to be submitted along with the application form is the Aadhaar Card copy if the Aadhaar is not linked to your savings bank account.

Eligibility Criteria of Pradhan Mantri Suraksha Bima Yojana

The eligibility criteria for subscribing for Pradhan Mantri Suraksha Bima Yojana is as follows:

• The minimum age requirement is 18 years.
• The maximum age requirement is 70 years.
• Those having a savings bank account and falling under the age group of 18 - 70 years are eligible to subscribe to the policy.
• The bank account must be linked with the Aadhaar card.
• If the bank account is not linked with the Aadhaar card, then the Aadhaar card copy must be attached with the application form.
• If the individual has more than one savings account, he or she is only eligible to join the scheme through a single bank account.
• Premium to be paid is Rs.12 yearly.
• The premium amount is auto debited from the insured's bank account.
• The scheme is valid for a year and it can be renewed at the end of the year.
• The primary KYC document required is the applicant's Aadhaar card.

How to Claim Process of PMSBY?

The following is the procedure to claim for the benefits under PMSBY:

• The insured or the nominee (in the event of death) must immediately inform the bank about the occurrence of the accident.
• Claim form must be obtained from the bank or designated insurance companies or via the website. The form is to be duly filled.
• The completed claim form is to be submitted to the bank branch within 30 days from the day of occurrence of the accident.
• The claim form is to be supported by original FIR, post mortem report, death certificate or in case of disability, disability certificate that is issued by a Civil surgeon. Discharge certificate should also be enclosed.
• The bank will verify the account details and then forward the case to the insurance company within 30 days of the submission of the claim.
• The insurer will then confirm that the insured is in the list of the insured persons in the master policy.
• The claim will be processed within 30 days of receiving the documents from the bank.
• The admissible claim will be then remitted to the nominee's or the insured's account.
• If the insured has not appointed a nominee, then the death claim will be paid to the legal heir. The legal heir must produce the succession certificate.
• The maximum time that is allowed for the bank to finish the claim procedure is 30 days.

Following information is to be furnished in the claim process form

• Name of the insured
• Full address of the insured
• Name and address of the bank branch
• Savings bank account number
• Contact number of the insured, i.e. mobile number, phone number, email address and Aadhaar number
• Details of nominee, i.e. name, mobile or phone number, email address, bank account for electronic transfer and Aadhaar number.
• Details of accident, i.e. the day, date and time of occurrence, place of occurrence, nature of the accident and cause of death or the details of injury
• Name and address of the hospital or the attending doctor along with the contact details
• Time and date of when the medical officer of the company can visit the insured.
• Details of the documents that have been submitted

The nominee or claimant will have to sign the declaration and mention the policy number and claim number along with the date. The authorised bank official will further review the form and sign it and pass it on to the insurance company.

The Pradhan Mantri Suraksha Bima Yojana scheme aims to bring the insurance coverage to the uninsured sector. The scheme also serves the goal of financial inclusion by penetrating the insurance to the weaker sections of the society and thus ensuring financial security. The benefits received up to Rs.1 lakh is tax free under Section 10(10D) of the IT Act, 1961.

Features of Pradhan Mantri Suraksha Bima Yojana

The following are the features of PMSBY:

• The accidental death insurance cover renewable each year.
• The annual premium to be paid is Rs.12. This premium is excluding the service tax which is charged at 14%.
• Up to Rs.2 lakh cover is payable to the nominee of the subscriber if he or she dies in an accident or is totally disabled due to the accident.
• The premium is auto debited from the bank account of the subscriber.
• The subscriber can avail the long term option or renew the scheme every year.
• The subscriber can exit the scheme at any time and can sign-up at any time in the future.

Who will get the benefit of this scheme? 

The benefits of Pradhan Mantri Suraksha Bima Yojana can be availed by any citizen from the age of 18 to 70 years. In this plan, the insurer has to pay a premium of Rs. 1 per month.

Important Links

• Official Website : Click Here
• Application Form PDF : Download Here

FAQ's

1. Will the subscriber receive any benefit if he or she suffers partial disability due to an accident?

   Yes, the subscriber will receive Rs.1 lakh if he suffers from partial disability due to an accident.

2. Will I get the benefits of this scheme if I have another insurance scheme?

   Yes, you will get the benefits of the scheme in addition to any existing accidental insurance cover.

3. What will happen if I have insufficient balance in my savings account and the account has been closed?

   In the event you have insufficient balance in your savings account and it has been closed or if you don't have sufficient balance to keep the policy in force, then your accident cover assurance will be terminated.

4. Is a NRI eligible for coverage under PMSBY?

   If a NRI has eligible bank account that is located in India and is meeting the eligibility criteria, then he or she can take the PMSBY scheme. The claim benefit will be paid to the nominee in Indian currency.

5. Can the hospitalization expenses be reimbursed under this scheme?

   No, the hospitalization expenses following the accident that results in death or disablement is not reimbursed.

6. If the subscriber is missing and his or her death is not confirmed, will the nominee or the legal heir get any benefits?

   Insurance benefit is only paid on the confirmation of the death of the insured or on expiry of the period that is specified by the law to presume the death of a person, which is 7 years.