PM Suraksha Bima Yojana (PMSBY)

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Overview & About

Affordable accident insurance at just ₹20/year providing ₹2 lakh death/disability coverage for all Indians aged 18–70.

PM Suraksha Bima Yojana (PMSBY) provides accident insurance at an incredibly low premium of ₹20 per year. It covers accidental death and total disability with ₹2 lakh and partial disability with ₹1 lakh. Over 34 crore people are enrolled. It is possibly the world's most affordable accident insurance scheme.

⚡ Key Facts

Authority Central Government

Annual Premium ₹20/year

Accident Cover ₹2,00,000

Enrolled 34+ crore people

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Benefits

Accidental death: ₹2,00,000 to nominee
Total disability: ₹2,00,000
Partial disability: ₹1,00,000
Annual premium: only ₹20
Auto-renewal and auto-debit

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Eligibility Criteria

Any Indian aged 18–70 years
Must have savings bank account
Aadhaar linked to bank account
Can enroll at any bank branch

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Required Documents

Aadhaar card, Bank account details, Nominee details

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How to Apply

1

Visit bank or enroll online via net/mobile banking

2

Fill PMSBY enrollment form with nominee

3

Give consent for ₹20 auto-debit annually

4

Policy active immediately

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Frequently Asked Questions

Does PMSBY cover natural death? ▾

No, PMSBY only covers accidental death and disability. For natural death coverage, PMJJBY (life insurance) is the companion scheme.

What is 'partial disability' in PMSBY? ▾

Partial disability means losing one eye's sight, or use of one hand, or one foot in an accident. This receives ₹1 lakh (vs ₹2 lakh for total disability).

Overview & About

Benefits

Eligibility Criteria

Required Documents

How to Apply

Frequently Asked Questions

Jump to Section

Quick Facts

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PM Suraksha Bima Yojana (PMSBY)

Overview & About

Benefits

Eligibility Criteria

Required Documents

How to Apply

Frequently Asked Questions

Jump to Section

Quick Facts

Need Help?

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