Ministry of Finance, Department of Financial Services, Government of India
PM Suraksha Bima Yojana (PMSBY) — ₹2 Lakh Accident Cover at Just ₹20/Year
Objective
Provide affordable accidental death and disability insurance to all Indians, especially those in the unorganised sector, through a simple bank account-linked annual subscription.
Eligibility Criteria
- Age 18 to 70 years
- Must have a savings bank account with a participating bank
- Auto-debit consent required
- No medical examination required
- Multiple bank accounts: enrolment through one account only
- Joint account holders can each enrol separately by paying ₹20 each
Benefits & Features
- 1₹2 lakh paid on accidental death or total permanent disability
- 2₹1 lakh paid for partial permanent disability (loss of one eye, one hand, or one foot)
- 3Annual premium: ₹20 per year — one of the cheapest insurance products in the world
- 4Cover period: June 1 to May 31 every year, renewable annually
- 5Premium auto-debited from bank account every June 1
Required Documents
- Aadhaar card
- Savings bank account at a participating bank
- Nominee details (name, relationship)
- Auto-debit consent form
How to Apply
Official Portal & Helpline
Get instant scheme updates — join our channels:
PM Suraksha Bima Yojana — Accident Insurance at ₹20 a Year
₹20 per year. That is less than the price of a cup of tea. And for that, you get ₹2 lakh in accident insurance cover. If you have a savings bank account and are between 18 and 70 years old, there is simply no reason not to be enrolled in this scheme.
The Pradhan Mantri Suraksha Bima Yojana (PMSBY) was launched on May 9, 2015 as one of the Jan Suraksha schemes — three government initiatives to bring insurance and pension coverage to the unorganised sector. PMSBY specifically covers accidental death and disability.
What You Get
| Event | Payout |
|---|---|
| Accidental death | ₹2 lakh to nominee |
| Total permanent disability (both eyes, or both hands/feet, or one eye and one hand/foot) | ₹2 lakh |
| Partial permanent disability (one eye, or one hand, or one foot) | ₹1 lakh |
Note: This is an accident-only scheme. Death due to illness is not covered under PMSBY (for that, enrol in PMJJBY separately).
Who Is Eligible
| Criteria | Detail |
|---|---|
| Age | 18 to 70 years |
| Account required | Savings bank account with a participating bank |
| Medical test | Not required |
| Annual premium | ₹20 (auto-debited June 1 every year) |
How to Enrol
At your bank branch:
- Ask for the PMSBY enrolment/consent form
- Fill in your name, Aadhaar, nominee details
- Sign the auto-debit mandate
- Submit — your accident cover starts immediately
Online: Log in to your bank's net banking → Insurance / Social Security Schemes → PMSBY → Enrol.
Most major banks including SBI, Punjab National Bank, Bank of India, Canara Bank, HDFC, ICICI and others offer online enrolment.
What Counts as Total vs. Partial Disability
Total permanent disability (₹2 lakh):
- Loss of use of both eyes
- Loss of use of both hands or both feet
- Loss of use of one eye and one hand or one foot
Partial permanent disability (₹1 lakh):
- Total and irrecoverable loss of sight in one eye
- Loss of use of one hand or one foot
How the Claim Works
For accidental death:
- Nominee submits claim form at the bank
- Required: Death certificate, FIR/police report, post-mortem report, nominee's ID proof
For disability:
- Subscriber submits claim form
- Required: FIR/accident report, medical certificate from a government hospital doctor confirming disability, disability certificate
Claims should be filed within 30 days of the accident. The payout comes directly to the nominee's/subscriber's bank account.
Things to Remember
- Premium of ₹20 is auto-debited every June 1 — keep that balance in your account
- Cover is for the period June 1 to May 31 each year
- If the premium auto-debit fails, your cover lapses — re-enrolment requires a declaration of good health
- You can hold both PMSBY (accident) and PMJJBY (life) — they are separate and complementary
- Maximum cover per person is ₹2 lakh even if you enrol through multiple banks (government restricts benefits to one)
Quick Links
- Official Website: jansuraksha.gov.in
- Helpline: 1800-180-1111 / 1800-110-001 (toll-free)
Enrol today if you haven't already. The premium is ₹20 — it costs you almost nothing and protects your family from financial crisis in case of an accident.