Pradhan Mantri Suraksha Bima Yojana 2020 is an insurance policy scheme for the death and accidental Cover. This scheme has been announced by the Hon’ble Prime Minister Narendra Modi on 9th May 2015. If you desire to apply for this scheme then you have to download the application form by following a few easy steps. The purpose of PMSBY 2020 is to serve secure life and future to the citizen of India. Now the question is what steps to apply for the scheme, who can apply for this scheme, what benefits citizen will get and other necessary information about the scheme.
PMSBY Scheme Details 2020
Pradhan Mantri Suraksha Bima Yojana 2020 is a policy under which the Government of India gives up to 2 Lakhs Rupees Death Covers to the Policy Holder. This scheme is offered by Public Sector General Insurance Companies or any other General Insurance Company who are willing to offer the product on similar terms with necessary approvals and tie-up with banks for this purpose. The policy holders have to pay only Rs. 12 Rupee per annum. The Indian citizen who ages between 18 years to 70 years can avail the Benefits of the Pradhan Mantri Suraksha Bima Yojana. PMSBY Scheme 2020 is an Auto Debited Scheme under which the Premium amount will be debited through your Bank Account.
Brief Summary Pradhan Mantri Suraksha Bima Yojana
|Name of the scheme||Pradhan Mantri Suraksha Bima Yojana 2020|
|Launched by||Hon’ble Prime Minister Narendra Modi|
|Launched on||9th May 2015|
|Category||Central government scheme|
- Age of the applicant is must be 18 to 70 years
- Applicant must have a savings bank account
- Applicants must have Aadhar card
- The bank account must be linked with the bank account
- NRI’s are also eligible for this scheme
Silent features Of PMSBY
- Applicants have to give their consent to join/enable auto-debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis.
- Claim settlement will be made to the bank account of the insured or his nominee in case of death of the account holder within 30 days of its receipt from the Bank
- In case of a joint bank account, all the holders of the account are free to join the scheme
- The claims benefit will be paid in Indian currency to the NRI’s
- Multiple bank account holders can join the scheme through one bank account only
- If applicant commit suicide no benefits will be entitled
PMSBY Scheme Claimed Amount Details
|I.||Death||Rs. 2 Lakh|
|II.||Total and irrecoverable loss of both eyes or loss of use of both hands or feet or loss of sight of one eye and loss of use of one hand or one foot||Rs. 2 Lakh|
|III.||Total and irrecoverable loss of sight of one eye or loss of use of one hand or one foot||Rs. 1 Lakh|
- The total amount that can be claimed under the policy is INR 2 lakh only
Benefits Of PMSBY 2020
- Life Insurance policy
- Gives Total coverage (sum-insured) under the scheme is Rs. 2 Lakh.
- The premium value is to less only Rs 12 Per annum.
- To serve the goal of financial inclusion to the weaker sections of the society
- To ensuring their or their family’s financial security in case of any unexpected and unfortunate accident.
How To Apply Pradhan Mantri Suraksha Bima Yojana
Application forms are available in different languages. You may visit the official website to see the form. But to apply for this scheme you have to follow the further mentioned steps:
- If you wish to apply for Pradhan Mantri Suraksha Bima Yojana you have to go to your bank where you have your bank account.
- Ask the branch manager to apply for this Scheme with sufficient Documents ask by the bank to you
- Fill up the Application Form with appropriate details
- Then submit the application form to branch bank manager
- There is no special way to apply for Pradhan Mantri Suraksha Bima Yojana you have to go to the bank.
Procedure to Claim The Policy Amount
- To claim, you have to visit the official website of the department of financial service
- Click on “Forms” option available in menu bar
- Click on “claim forms” option
- Choose your language and download the application form
- Submit the form in the bank
Note: Stay tuned with our website for more scheme related updates.