Pradhan Mantri Suraksha Bima Yojana Policy (PMSBY)

Pradhan Mantri Suraksha Bima Yojana Policy (PMSBY) [Claim Settlements]

Insurance is not a newer concept to India; however, its reach is still much limited.  In spite of so many insurance companies operating in India with their products and services, there are a majority of people in rural areas, who are not at all covered under any kind of insurance. Pradhan Mantri Suraksha Bima Yojana is for them.

These people are those who are mostly below the poverty line and insurance is an unaffordable service for them.  PMSBY aims to reach such people with its benefited insurance schemes after the successful performance of Jan Dhan Yojana.

PM Suraksha Bima Yojana

Suraksha Bima Yojana Benefits

  • The death benefits are up to 2 lakhs
  • In case of irrecoverable and total loss of both hands, both eyes or sight or one leg or foot, the insurance cover would be up to 2 lakh
  • In case of lost of one leg, hand, foot, eye or sight, the sum assured would be Rs 1 lakh

Suraksha Bima Yojana Premium

The premium for PMSBY is such that even the poorest of poor Indian would be able to afford it.  The premium is just Rs 12 per annum for each member.  This amount would be deducted from the policy holder’s saving bank account with an auto-debit facility, in the month of June every year.

If somehow, the amount could not be auto-debited from the policyholder’s account on 01st of June, the policy would commence only when the auto-debit has been done on the account and premium paid.  As foreseen, the premiums would remain equally low at least for next few years.

Suraksha Bima Yojana Eligibility

Following are the eligibility conditions for getting a policy

  • Age limit: 18 to 70 years. The aspirant should have completed 18 years of age or should not be more than 70 years of age.
  • Should have a saving bank account
  • Should give a consent letter for auto-debit facility

Suraksha Bima Yojana Features

Here are some of the features of the prestigious PMSBY:

  • The scheme would be renewed every year with a single year cover at a time
  • These companies should be willing to offer a scheme similar to the one mentioned under PMSBY and should have adequate approvals and tie-ups for this purpose
  • Banks would have a free hand in engaging any insurance company that intends to offer the scheme

Suraksha Bima Yojana The scope of coverage

  • If the individual has a multiple saving account, he/she would be eligible to get just one insurance scheme attached to just one saving account
  • The primary Know Your Customer document required for getting registered under the scheme would be Aadhar Card
  • The premium for the scheme would be auto-debited from the saving account of the policy holder
  • For the starting year, i.e. year 2015, those interested in enrolling for the scheme can do so till 30th of November 2015
  • If a policy holder exits the scheme during any year, he/she if wishes to rejoin it may do so in succeeding years with the same terms and conditions

Suraksha Bima Yojana Termination

In the event of following situations, the accident cover of the policy holder would be immediately terminated and no benefits would be paid thereafter:

  • If the policyholder attains the age or 70 years
  • If the policy holder closes his/her saving account and/or is not able to continue with the premium paying process or minimum balance in the saving account
  • If the policy holder has opted for more than one policy under the scheme, the other policy except the oldest would be cancelled and terminated
  • If the premium was not paid due to insufficient balance in the saving account, the policy would be terminated till a period when the policy holder pays the premium
  • This is a noble scheme that aims to bring the uninsured into the mainstream insurance services. The scheme is much in line with the prestigious PM Jan Dhan Yojana and is actually a continuation of the latter. If the scheme succeeds, at least those living below poverty line in far flung areas would have a sigh of relief in case of event of accidents in their life.

Claim settlement process in surksha bima yojana (PMSBY)

Yes it is a fact that people are really enthusiastic about the launch of PM Suraksha Bima Yojana. Thanks to the innovative thought of PM Narendra Modi a large number of people are availing the benefit of people centric schemes. A lot of people might be skeptical about the benefits of this scheme, but it cannot be denied at all that people are being benefitted and the schemes are ultimately reaching the beneficiaries. Let us delve deep to check out the steps for availing the claim for the Suraksha Bima Yojana.

In the first step, you need to fill up the claim form and submit it along with Death certificate, the original document of FIR or Post Mortem report, Discharge certificate and Insurance certificate at the bank where you are supposed to get the Suraksha Bima Yojana in the savings account.

Then the bank branch shall send all documents to the nearest insurance office and there the scrutiny of the documents shall be done. The insurance company shall transfer claim amount in the bank account of that particular nominee and then notify the nearest branch of that bank.

This is the process and incase any discrepancy is there, the insurance company shall deal with the designated branch and the individual shall be notified immediately.

Also Read

  1. Jeevan Jyoti Bima Yojana
  2. PM Awas Yojana
  3. Kaushal Vikas Yojana
  4. Atal pension Yojana
  5. Jan Aushadhi Scheme
  6. PM Mudra Yojana


  1. This plan is good & also thanks to the PM Mr. Modi. But I have a question i.e Is tax payer can eligible to take this policy ? Please add this condition i.e tax payer is not eligible to take this insurance. It is my personal suggestion.


  3. I am a handicaped person may i open the PMjandhan suraksha yojana

  4. My question is that if the customer has started 12 Rs. scheme and after 72 years he/she is dead with some disease than what benefit he/she will get……
    BECAUSE THERE IS NO MATURITY SCHEME…..So there should be……after 3 to 5 years…..


  6. SEBASTIAN . P . G


  7. This plan is good & also thanks to the PM Mr. Modi. But I have a question i.e Is tax payer can eligible to take this policy ? Please add this condition i.e tax payer is not eligible to take this insurance. It is my personal suggestion.

  8. pmjandhanyogana

    It is for everyone

  9. pmjandhanyogana

    yes you can avail these 3 schemes concurrently

  10. pmjandhanyogana

    yes you can

  11. pmjandhanyogana

    1) yes you can
    2) yes it would be 4 lakhs ( But you have to fulfill the requirement. If death happens because of accident they your nominee will get 4 lakhs if the death is normal then it would be 2 lakhs)

  12. I want cansel dis skim….I don’t want to b continue it….is this possible..

    • pmjandhanyogana

      yes you can cancel this Suraksha Bima Yojana at any time.

    • SIR
      One question for you
      My brother died from blood cancer he had an account with Jandan yojana so can we make a claim.

      • Recently a neighbour passed away and his family was given 2Lakh within 40days. So I think Life Insurance is coveres by PMBSY 330/ p.a scheme

  13. pmjandhanyogana

    yes he is eligible if lies in the age limit

  14. i know about this product PM Suraksha Bima Yojana

  15. Can Non Resident Indians opt for Pradhan Mantri Suraksha Bima Yojana?

  16. pmjandhanyogana

    no Jane they cannot until their status is NRI once they are back in India they can

  17. pmjandhanyogana

    Nominee name can be changed in these policies. You have have only one nominee for each policy but they can be different fo PMJJBY and PMSBY

    • Hello Sir

      Please tell the procedure to change the Nominee name in this Policy. How do I change my Nominee name?

      Thanks in anticipation.

  18. ram kumar palivela

    PM Suraksha Bima Yojana These people are those who are mostly below the poverty line and insurance is an unaffordable service for them.

    The premium for PM Suraksha Bima Yojana is such that even the poorest of poor Indian would be able to afford it

    not for middle class people can’t apply

  19. how i know that my bank account is linked with PRADHANMANTRI SURAKSHA BIMA YOJANA or not, bank is not cooperating.

  20. I have account in HDFC Bank, I enrolled of PMJJBY and PM Suraksha Bima Yojana in HDFC Bank,

    If I want change the Bank next year, can I continue these schemes with new Bank Account?

    Pls Advise to my query

  21. can we take the maturity of these scheme?

  22. I has already enrolled for PM Suraksha Bima Yojana in SBI but now i want to cancel it. Please let me know the procedure

    • pmjandhanyogana

      you will have to inform your bank so that they will not debit the amount next year. most probably you wont get the amount deposited this year.

  23. there is no use to PM Suraksha Bima Yojana in we wont get back any money back in case if dosent happen to us.

    • pmjandhanyogana

      since this is a term insurance and in these schemes you wont get back the money until something happens to subscriber. But you can get a cheaper insurance like this. Just think in this was that since the changes of getting an accident and dying is pretty low but if it happens then all of us would be who have joined the insurance poll would be helping the one who needs money.

  24. Can I take PM Suraksha Bima Yojana from 2 banks and get 4 lakhs accidental insurance?

    • pmjandhanyogana

      Practically yes you can do so. This is why government wants Aadhar card to be mandatory in all these schemes to avoid such cases. It is advisable not to do so because eventually aadhar card would become mandatory and you would lose money that you have deposited in one such bank.

  25. what is the procedure to join.

    • pmjandhanyogana

      procedure to join Pm Suraksha Bima Yojana is very simple. You can walk to your nearest bank in which you have saving account and fill the form. Other way is just to reply to the sms that you might have received from the bank, just by replying to the sms will make you enroll in Suraksha Bima Yojana. Third way is for the people who use internet banking, just log in in your bank portal and there is a clear steps that will make you enroll in these schemes.

  26. What is difference between Jeevan Jyoti Bima Yojana and Pm Suraksha Bima Yojana and Why?

    How many rupees deposited / year in this two different scheme ?

    we can gate benefit(2 lac or 4 lac) in normal death ?

    • pmjandhanyogana

      PMJJBY is a term insurance for normal death case while PMSBY is for accidental insurance. You have to pay a premium of rs 330 per year in PMJJBY and Rs 12 per year in PMSBY.

  27. Is JDY mandatory for PM Suraksha bima Yojana?

  28. What will happen to my deposit if there is a shift in government from NDA to UPA?

    • pmjandhanyogana

      nobody can predict about it but since government of India is involved in this your money is in safe hands.

  29. How much medical benefit will we get in Suraksha Bima Yojana?

  30. I dont think PM surakhsha yojana is good and it requires lot of improvement and need to be detailed in the plan. I am big fan of PM yojana but this bima yojana provides the return what normal LIC policy can do

  31. What is the premium amount for a senior citizen and is this scheme applicable for minors? What amount will be given in case of any major casuality?

    • pmjandhanyogana

      atal pension yojana is neither for senior citizens and nor for minors. Please read the article for benefits

  32. meri age 42 h and mere husband ki 45 saal h kya hum dono is scheme ka use kar sakte h ..

  33. I have enrolled for this scheme i.e., suraksha-bima-yojana.
    1. If at all I dont want to continue with this scheme, what is the procedure to do the same?
    2. If I continue also, what benefits I would be getting after 55 years?
    3. Can I discontinue this scheme at least after sometime, say after 5 years or after 10 years? If yes, then what will happen to the amount I have paid upto 5/10 years?

    Kindly reply.

    • pmjandhanyogana

      1) you can request the bank to de active the auto debit and from next year you would be deactivated.
      2) Suraksha Bima covers you till 70 years
      3) you wont get anything back.

  34. Whether incentive of Rs 1 to Bank Mitra & Rs 1 to Bank shall attract TDS?

  35. whether incentive to Bank Mitra & Bank @ Rs 1 under PMSBY will attract TDS?

  36. Hi,

    I would like to pay for Atal Pension Yojana(APY). I know it is not for Income Tax Payers.

    As I worked for a Private Organization, they have deducted TDS and I claimed it. TDS deducted for 2014 Year only.

    From 2015, there will not be any TDS. So now please clarify if I am eligible for APY scheme.

    In my case tax is deducted at source and I submitted for ITR for refund. I will get the refund as well.

    Do you think I am a tax payer in this case? It was in the past TDS is deducted and from the present FY 2015-16

    onwards there would not be any TDS as I am not working now. Please clarify.


  37. — What is the last date for applying i PM Suraksha Beema Yojana (PMSBY)?
    — In the columns benefits following has been described :
    A:- In case of irrecoverable and total loss of both hands, both eyes or one leg or foot, the insurance cover would be upto 2 lacs.
    B:- In case of lost of one leg, hand, foot, eye or sight, the sum assured would be Rs 1 lac
    In column (A) sum assured is Rupees upto 2 Lacs in case of loss of one leg or foot and in column (B) sum assured is Rs. 1 lac in case of loss of one leg, foot or eye.
    Please clarify an reply the queries.

  38. Hi can you again let me know the documents required for ” PM Suraksha Bima Yojana (PMSBY) ”
    As per above it required only Aadhar Card, however my Bank is rejecting it due to permanant address missing.

    Actually i had shifted to other place So my passport & ration card is showing old address whereas my Aadhar card is showing current address.

    can you help

    • usually it assumes that address is same as what is in your savings bank account. Hence address proof is not required.

  39. can i and my brother together join this scheme ?

  40. My mother dead in hospital last month 29/08/2015 due to cardiac problem. Age 65 yrs. She open an account of SBI. we can claim pm suraksha bima yojana or pm Jan dhan yojana scheme. please reply and send procedure. .

  41. It is mandatory to give aadharcard number? because suprime court said that aadharcard is not required for any documentation please kindly give me information about it

  42. My son has got accident in Pune and after 20 days i get discharge from Hospital and to claim in pmsby there is a limit of 30 days now I have to get a disability certificate from Civil Surgeon. Today i present against Medical board (in Indore it is once in a week) but they say you have to take Orders from court and then they can issue a certificate.
    My request is ti enhance the limit of submission and why court orders are compulsory

  43. I have enrolled for Suraksha Bima Yojna by paying Rs.12 but I am not in possession of any document.
    Please help to obtain policy document or reference number of policy etc.

  44. Is their any minimum time period to claim PMSBY?

  45. I have enrolled for Suraksha Bima Yojna by paying Rs.12 but I have not received any policy confirmation. Please help

  46. I have taken a PMSBY scheme from TJSB bank, but I have not received the document. Bank says there is no policy document.
    So where is I can see my policy or policy document online

  47. how to down load policy certificate of PMJJBY & PMSBY?? I have received any mail after enrollment,but i have reference no. which has given by state bank of India.

  48. My Father done this scheme.he death on 6th January for heart attack.
    Plz suggest me how get insurance claim.

  49. How to know the claim status of pmsby

  50. my brother has subscribed in pradan mantri suraksha bima yojana, he died due to dengue fever, is there any possibilities to claim amount under this scheme coverage?

  51. My father lost his one leg due to gangrene is he elligible for insurance in pmbsy as he is already a member of this scheme.

  52. Please Send my iID Jan Suraksha yougna Details

  53. How to Apply the claim status of pmsby

  54. My dad died 4 th of march due to kidnee problem.he have enrolled the pmsby scheme . can he avail the benefits.. Pls help me how to get benefit.

  55. Jatinkumar Babubhai Valangar

    In this scheme the Government should issue the bond. Bond is the document where details are given about the policy number, nominee details, date of commencement or etc…. Because of bond nominee can easily claim the amount if the passbook of the holder’s misplace or not available.. Through bank or internet banking a nominee can claim the same. if someone don’t know about the scheme or he/she is the nominee for this YOGNA. because of the bond docs person can easily claim the amount..

    I understand that there is million peoples are policy holder and it is tough for Government to issue the bond. Bank can issue the bond on behalf of the government. is it possible ?


  56. Dr. Ameya Tirodkar

    I had enrolled myself and my parents through our joint account in SBI .
    I have yet not received any confirmation regarding the same,
    How to check the status or get the certificate for the same.

  57. Hi
    I have accidently opened PMJJY and PMSBY with 2 banks last year . I have approached both banks to inform to stop auto debit from any of them from this year onwards so that I can have both policies with one bank only which will validate the condition . Banks says they don’t have rights to do make auto stop for deduction of premium from SB account

    How to tackle this issue ?

  58. My uncle Sopan Sidram Bhagat expired on Aug 2015, we had paid Rs.12 for Suraksha Bima Yojana, amount deducted from respective bank. We have already submitted all required documents for claim, Please help me regarding this.

    Bank : Bank of India
    Branch : Pisarve
    Taluka : Purandhar,
    Dist : Pune

  59. I want to enroll as many people as possible under PMSBY scheme. There should be online status check facility by inputting bank account and bank name OR Aadharcard number. This is possible because each bank individually providing the PMSBY status online.

  60. Dear Sir,
    i have sent an sms for PMSBY registration
    last year Rs. 12/- was deducted from my Bank Account also this is i got a sms for renewal premium.
    but the problem is i have not received any Policy Number No Documents received then how can one claim & HOw do i get to you the amount is deducted towards premium only & i m insured with a Proper Policy.
    Please revert.

  61. I had opted for 12 per annum insurance now I had received message that Rs. 330 will be deducted. Pl. confirm.

  62. ICICI BANK A/C Holders can get online policy certificate through below links-

    Any idea how to get online policy certificate with existing policy holders with HDFC Bank A/c?Need help.

  63. I have done this policy in the cosmos cooperative bank Ltd, King koti, Hyderabad., last year but till now I have not received the policy documents. Now I have received the msg that you need to keep sufficient balance in your account as it will be renewed before 31 St may 2016.
    Kindly send me my documents at the earliest please.
    In box me the details please.

  64. Will a person who have suffered an accident and lost almost two fingers get benefit under PMSBY. Will you make such cases eligible to the claim .

  65. is this mandatory Driving Licence for this claim. they r asking driving licence know but didn’t informed while applying the claim

  66. please send me application form

  67. i want policy copy how i can got?

  68. Anurag Agrawal

    I want to cancel my enrolment for PMSBY insurance through Federal Bank. i have given several mails to Bank,but they are not taking any action. Is there any link/email address through which i can cancel online?

  69. i have not received any policy document. Money has been debited from Bank. Pls advise.

  70. Hi,

    I have enrolled for PMJJBY & PMSBY using HDFC Netbanking on 01st Apr, 2019. It has been a while now but I haven’t received any policy document/ policy certificate. All I have is the screenshot of the payment acknowledgement page with Reference Numbers for both the policies.

    I approached the bank regarding the same but they informed me that the policy document will be mailed by the govt. Requesting for your kind attention. Thanks !!


    I have not yet received any policy no. or documents. Please advice.

  72. Gopi Paresh Gandhi

    My wife had opted the since the scheme was introduce. After a year Nominee i.e My son expired in the month of March 2017. Now I want to change the Nominee , is it Possible. As the necessary amendment was done in Saving Bank account ( By submitting the death certificate in the Bank ) .
    Now the problem is with STATE BANK OF INDIA – CHIKUWADI BRANCH informed me that the system doesnot permit to change in Nomination.
    Your reply in the matter highly appriciated.

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