Check complete pmsby scheme details to get accidental death and disability insurance coverage for just ₹20 per year. Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a government-backed accident insurance scheme designed to provide affordable financial security to citizens across India.
What is PMSBY Scheme?
Administered through Public Sector General Insurance Companies (PSGICs) and participating banks, Pradhan Mantri Suraksha Bima Yojana offers personal accident insurance cover. The policy period runs from June 1 to May 31 each year, with automatic annual debit from the subscriber’s bank account.
Important Information
Eligibility & Benefits
- Eligibility
- Bank account holders aged 18 to 70 who give consent for auto-debit of the annual premium.
- Benefits
- ₹2 lakh to the nominee on death or full disability, and ₹1 lakh for partial permanent disability, for an annual premium of ₹20 (GST-exempt); cover runs 1 June to 31 May each year.
- Required documents
- A savings bank account with auto-debit consent for the premium.
How to Apply
- Application process
- Enrol through the bank where the savings account is held — via net-banking, mobile banking, or a physical consent form at the branch.
Official Source
Department of Financial Services, Ministry of Finance
Visit Official Website / Apply
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Source: Department of Financial Services — PMSBY
Last verified: 2026-09-06
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