Pradhan Mantri Suraksha Bima Yojana

1
Pradhan Mantri Surakhsa Bima Yojana
2
Introduction

• Pradhan Mantri Suraksha Bima Yojana is a
  government-backed accident insurance scheme
  offering accidental death and disability cover.
• The Scheme was launched by Prime Minister
  Narendra Modi on May 9, 2015.
• The scheme offers coverage from 1st June to 31st
  May.
• The new entrants who did not join in the earlier
  years will be able to join in the subsequent
  years while the scheme is still valid.

3
What does Pradhan Mantri Suraksha Bima Yojana
offer?
Benefit Sum Assured
Death 2 lakhs
Permanent loss of vision of both the eyes or loss of use of both hands or feet or loss of sight of one eye and loss of use of one hand or one foot 2 lakhs
Permanent loss of sight in one eye or loss of use of one hand or one foot 1 lakhs
4
Eligibility of Pradhan Mantri Surakhsa Bima
Yojana

• The scheme can be availed by all saving bank
  account holders aged between 18-70 years.
• The scheme can be purchased through one savings
  account only.
• The policyholder should have an Aadhar card to
  avail the scheme.
• For premium payment, the policyholder should give
  auto-debit facility to the bank.

5
Premium of Pradhan Mantri Surakhsa Bima Yojana

• Pradhan Mantri Suraksha Bima Yojana aims to
  provide protection to all groups of
  people-specially the low-income groups.
• The premium for the scheme is Rs. 12 per annum
  per member.
• The premium will be auto-debited from
  policyholders linked saving account on or before
  1st June of every year.

6
Premium allocation in the scheme

• Rs. 10, per annum per member is be paid to the
  insurance company.
• Rs. 1, as Micro/Corporate agent commission on per
  member per annum.
• Rs. 1, will be administrative expenses for per
  member per annum.

7
Termination of Pradhan Mantri Surakhsa Bima
Yojana Scheme

• On attainting the age of 70.
• Closure of the bank account or insufficient
  balance.
• If the policyholder avails the scheme from more
  than one account and even if the premium is
  deducted then the additional insurance scheme
  will be terminated and the premium money will be
  forfeited.

8
Claim settlement process in Pradhan Mantri
Suraksha Bima Yojana Scheme

• The scheme provides coverage for death, permanent
  or partial disability caused by accident only.
• Documentary evidence should be submitted to claim
  for the same.
• In case of death due to snake bite, fall from a
  tree or others, the claim should be supported by
  hospital record.
• In case of any road or rail accident, the claim
  should be reported to the police.

9

• The following documents also need to be
  submitted
• Properly filled claim form
• Death certificate
• Original FIR report or Post mortem report
• Discharge certificate
• Insurance certificate