About Pradhan Mantri Suraksha Bima Yojana
Pradhan Mantri Suraksha Bima Yojana has been announced by the Government of India as one of the three social security schemes. PMSBY is an insurance scheme that provides accidental death and disability coverage for one year. The renewal is done on an annual basis.
With the minimum premium of Rs 20/- per annum, this policy is most beneficial to the poor and low-income sections of the society.
Pradhan Mantri Suraksha Bima Yojana provides life coverage of Rs 2 lakh for the accidental demise or permanent total disability and Rs 1 lakh for permanent partial disability.
Individuals within the age group of 18-70 years having a participating Savings Account can subscribe to this scheme. In case you have more than one Savings Account, you can subscribe to the scheme by using only one of them.