Among many government-backed schemes in the country, the Pradhan Mantri Suraksha Bima Yojana (PMSBY) is one insurance scheme that is aimed at helping poor families in the time of need. The government-backed insurance scheme assures a cover of lakhs by paying a minimal amount as premium.
Road accident menace has been rising in India. There was a 16.8 percent increase in accidents in the country from 2020 to 2021. In 2021, as many as 1,55,622 lakh people died in road accidents while 3,71,884 persons were injured in 4,03,116 road accidents in India in 2021, as per the latest report of the National Crime Records Bureau (NCRB).
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In such a situation, it becomes essential to have an insurance cover that will come to rescue in times of need. However, expensive premiums of private insurance schemes could be a terrible burden for families who are not well-to-do. This is where PMSBY comes in.
Under Pradhan Mantri Suraksha Bima Yojana, an insurance holder can get insurance benefits of up to Rs 2 lakh by depositing only Rs 20 per year. On the occasion of the death of the insured person in a road accident, the nominee will get Rs 2 lakh. In case of a disability, an amount of Rs 1 lakh will be given.
PMSBY: How to apply
In order to apply for the scheme online, one needs to visit the official website of Jan Suraksha Yojana. On the home page, go to the forms and click on the PMSBY form.
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You will get the options of application form and claim form on a new page. Go to the application form and download in your preferred language. Take a print out and fill in all the required details including your savings bank account number, mobile number, Aadhar card number, name of the nominee etc.
Attach all the required documents with the form and then submit it to the bank where you have your savings account.
How to claim?
On the occasion of the death of the insured, the nominee of the person will need to go to the bank and the insurance office and fill the claim form. The death certificate of the person insured will need to be submitted at the bank branch where the insured person had his savings account. Once the process is done, the insurance cover amount will be transferred into the nominee’s account.
