The government has decided to provide security and help to every citizen of the country at the time of crisis. The government has started an insurance scheme, not any subsidy for this. The government’s view is that not every citizen is capable enough to insure his life. The reason for this is that private insurance companies have taxed the premium of insurance so much that the common man cannot pay it. Despite this, the government has started the Pradhan Mantri Suraksha Bima Yojana to cover the poor person with insurance. Under this scheme, even the poorest of the poor can easily pay a premium of Rs 12 a year. In this insurance scheme, in the event of sudden death and disability, the benefit of insurance ranges from one to two lakh rupees.
- 1 When was this scheme started
- 2 How to get benefit of this scheme
- 3 What is the purpose of Pradhan Mantri Suraksha Bima Yojana
- 4 Under what circumstances the Prime Minister’s Security Insurance Scheme will be rejected
- 5 Benefits of Pradhan Mantri Suraksha Bima Yojana
- 6 How is the sum insured paid?
- 7 Some special features of the Prime Minister’s Suraksha Bima Yojana
- 8 Requirements for eligibility
- 9 Documents Required for Application
- 10 How to apply
When was this scheme started
Prime Minister Narendra Modi launched the Pradhan Mantri Suraksha Bima Yojana in 2015. Under this plan, insurance cover is given in case of accident. The applicant who receives the benefit of Pradhan Mantri Suraksha Bima Yojana has to pay a premium of only Rs 12 every year. If the person insured dies during this period, then the sum assured is given to the nominee. Apart from this, the benefit of insurance is also given in case of permanent disability.
How to get benefit of this scheme
In this scheme, the beneficiary and his family are given a sum insured ranging from Rs 1 lakh to Rs 2 lakh in case of an accident. The benefit of Pradhan Mantri Suraksha Bima Yojana can be availed only from the age of 18 to the age of 70 years. In this scheme, every year before 1st June, the savings account of the applicant’s bank is deducted. To take advantage of this scheme, the applicant’s bank account should have the facility of auto debit.
What is the purpose of Pradhan Mantri Suraksha Bima Yojana
- There are a large number of poor people in the country who cannot take insurance to protect their lives due to lack of money. At the same time, whenever such a poor person dies in an accident, then his family gets stuck in trouble and at that time financial crisis arises in front of the family. In that situation, the Pradhan Mantri Suraksha Bima Yojana has been started only to help the poor families financially.
- Under this scheme, if a person gets his accident insurance and he dies, then the amount that that person has done is provided to the nominee of his family as a cover.
- To get the benefit of Pradhan Mantri Suraksha Bima Yojana, the applicant has to pay a premium of only 12 years per year. This premium amount will be automatically deducted from the applicant’s account before June 1. If the facility of auto debit is not available in the bank account on 1st June, then in this situation the premium amount will be deducted from the account after providing the facility of auto debit. The benefit of this scheme will be provided from the first day of the coming month after deducting the insurance cover amount. The amount of premium will also be worked out on the basis of annual claim experience.
- The main objective of the Pradhan Mantri Suraksha Bima Yojana is to help every poor person in times of crisis arising out of the death of the head of the family. Under this scheme, a provision has been made to provide insurance cover at least premium to all the poor families of the country to get out of trouble.
Under what circumstances the Prime Minister’s Security Insurance Scheme will be rejected
Pradhan Mantri Suraksha Bima Yojana can also be rejected in various situations. What can be these situations, they are as follows:-
- The benefit of Pradhan Mantri Suraksha Bima Suraksha Yojana can be taken only from the age of 18 to 70 years. People below the age of 18 years cannot get the benefit of this scheme and people above 70 years also cannot get the benefit of this scheme.
- Even if the beneficiary has closed the bank account, the Pradhan Mantri Suraksha Bima Yojana will be terminated.
- The plan will be terminated even if the beneficiary’s account does not have sufficient balance to pay the premium.
Benefits of Pradhan Mantri Suraksha Bima Yojana
The applicant gets many benefits from the Pradhan Mantri Suraksha Bima Yojana. Some of these are as follows:-
- The benefit of Pradhan Mantri Suraksha Bima Yojana is provided to all sections of the people of the country. Priority will be given in giving the benefit of this scheme to the backward and poor sections of the country.
- In this scheme, if a person dies in an accident, then his family is given accident insurance of up to two lakh rupees by the government.
- In case of accident, if that person becomes permanently disabled, a sum insured of one lakh rupees is given.
- Under this scheme, if a person becomes temporarily disabled, then he is given a sum insured of up to one lakh rupees.
How is the sum insured paid?
Under this scheme, the amount of insurance is given separately in case of death or mutilation of the insured person and permanent and temporary disability.
- On the death of the person insured during the insured period, his family gets the sum insured of Rs 2 lakh.
- In case of complete loss of both the eyes of the person taking Pradhan Mantri Suraksha Bima Yojana in any kind of accident, an insurance amount of two lakh rupees is available. Two lakh rupees are also available in case of not using both hands or both feet. 2 lakh rupees are received even after the loss of one eye and one hand and leg is completely useless.
- One lakh rupees are available only in case of total loss of sight in one eye or in case of loss of use of one arm and leg.
Some special features of the Prime Minister’s Suraksha Bima Yojana
Certain terms and conditions are also prescribed for the Pradhan Mantri Suraksha Bima Yojana. Some of these notable ones are as follows:-
- PM Suraksha Bima Yojana is initially for one year only.
- This scheme is renewed every year.
- Under this scheme, the amount of insurance will be given in the event of death due to accident or disability.
- If a person has more than one savings account, then that person can get the benefit of this scheme from only one savings account.
- The insurance cover period of this scheme has been fixed from 1st June to 31st May.
- The applicant can get the benefit of the scheme only after paying the annual premium.
- If for any reason the applicant has left the scheme, then in future he can get the benefit of this scheme by paying the premium. In this way the applicant can get the benefit of the scheme even after leaving the scheme.
- In this scheme, preference is given to SC / ST, backward class applicants.
- This scheme has been implemented in all parts of the country.
Requirements for eligibility
Know which conditions have been kept for the eligibility of the person who wants to take the benefit of Pradhan Mantri Suraksha Bima Yojana:-
- The interested beneficiary must be an Indian.
- The age of the interested beneficiary should be between 18 to 70 years.
- It is mandatory for the applicant to have a savings bank account.
- The interested beneficiary should arrange for auto debit for payment of policy premium. For this the consent form has to be signed.
- If the savings account of the applicant’s bank has been closed due to any reason, then this scheme will be terminated.
- In case of non-payment of premium, the policy will not run.
- To get caste preference, it is mandatory for the applicant to have a caste certificate.
Documents Required for Application
To take advantage of Pradhan Mantri Suraksha Bima Yojana, the applicant needs some documents. Some of these are as follows:-
- Applicant should have Aadhar card.
- Identity card should also be with the applicant.
- The applicant should have his/her savings account passbook.
- There should be a certificate attesting the age of the applicant. Certificate of High School, Voter ID Card, Aadhar Card etc.
- Applicant should also have income certificate.
- The applicant should also have his/her valid mobile number.
- Latest passport size photograph of the applicant
- The applicant should have a proof of residence ie domicile certificate. For this, the applicant should have the proprietary right of his residence. If you live in a rented house, then there should be a rental agreement and electricity bill.
How to apply
There is a prescribed procedure for applying and registering to take advantage of Pradhan Mantri Suraksha Bima Yojana. Registration can be done by following this process. Let us know how to apply.
1. First Step
The interested beneficiary of Pradhan Mantri Suraksha Bima Yojana can go to any branch of the bank and apply under this scheme by taking the application form.
2. Step Two
If you do not want to go to the bank, then you can download the form from the official website of Pradhan Mantri Suraksha Bima Yojana.
3. Third Step
After visiting the official website, the home page will open in front of you.
4. Fourth Step
On the home page, you will see the Automation of Forms. You have to click on it. After clicking on AutoOption, the next page will open in front of you on the screen.
5. Step Fifth
On this page you have to click on Prime Minister’s Suraksha Insurance. After that click on the option of Application Form.
6. Sixth Step
After this the PDF copy of the application form will open in front of you. You can download the application form. After that you get it printed.
7. Seventh Step
Fill all the information asked in the application form carefully like name, address, aadhaar number, email, id, mobile number etc.
8. Eighth Step
After filling all the information, according to the information given in the application form, all the documents should be attached with the application form.
9. Step Ninth
When your application form is filled correctly and documents are attached with it. Then you have to submit the application form to the bank.
After you submit the application form your work is done. After that further work will be done by the government department.
Apart from bank branches, to take advantage of Pradhan Mantri Suraksha Bima Yojana, Bank Mitras can also be contacted, who contact door-to-door to apply for the benefits of this scheme. You can also contact the insurance agent to take advantage of this scheme. Government insurance companies also help in getting the benefit of Pradhan Mantri Suraksha Bima Yojana. Interested persons can contact these institutions to get complete information about this scheme. In this way you can protect your family along with the security of your life by taking advantage of Pradhan Mantri Suraksha Bima Yojana. Along with this, you can also benefit your acquaintances from this scheme.