How do I apply for Pradhan Mantri Suraksha Bima Yojana?
Pradhan Mantri Suraksha Bima Yojana is the government’s accidental insurance cover which was announced in the 2015 Budget. This scheme was launched to provide personal accident insurance cover to the high risk category of citizens such as mechanics, labourers, truck drivers which involves a lot of travelling. It is also one of the cheapest insurance cover. The scheme also covers both partial and permanent disability.
This scheme is available to those between the age of 18 and 70 years. However, they must have a bank account. The annual premium of the scheme is Rs.12 excluding the service tax. The premium amount is automatically debited from the bank account of the scheme holder. Rs. 2 lakh is paid to the nominee if the subscriber dies in an accident or if he is fully disabled. If the subscriber meets with an accident and suffers partial permanent disability, then Rs.1 lakh is paid.
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