Pradhan Mantri Suraksha Bima Yojana (PMSBY): Eligibility and Benefits

Quick Overview

Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a government-backed accidental insurance scheme launched in 2015. It offers ₹2 lakh in accidental death and total disability cover and ₹1 lakh for partial disability at an annual premium of just ₹20. The scheme is available for Indian citizens and non-resident Indians (NRIs) aged 18–70 with a savings bank account. PMSBY is one of the most affordable accident insurance schemes administered by general insurers in collaboration with participating banks and post offices.

India has one of the highest rates of accidental deaths in the world, yet a large portion of its population remains uninsured against such risks. With 1,72,890 deaths recorded in 2023, the need for affordable accidental insurance is hard to ignore. For many families, especially in rural and semi-urban India, Pradhan Mantri Suraksha Bima Yojana offers a simple, low-cost financial safety net.

Launched on May 9, 2015, by Prime Minister Narendra Modi, PMSBY is part of a trio of social security schemes, alongside Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Atal Pension Yojana (APY).

In this review, we walk you through PMSBY scheme details, eligibility conditions, claim process, limitations, and how it stacks up against other accident insurance options in the market.

Key Features of Pradhan Mantri Suraksha Bima Yojana

Feature	PMSBY Details
Launch Year	2015
Administered By	Banks (public and private), in partnership with general insurers
Annual Premium	₹20 per year (revised from the original ₹12 in 2022)
Sum Insured (Death / Total Disability)	₹2 lakh
Sum Insured (Partial Disability)	₹1 lakh
Eligibility	Indian citizens and NRIs aged 18–70 with a savings bank account
Enrollment Mode	Auto-debit from savings account
Policy Period	One-year cover from June 1 to May 31, renewable annually

Did You Know?

As of April 23, 2025, cumulative PMSBY enrollments crossed 51.06 crore, and the scheme had paid ₹3,121.02 crore across 1,57,155 claims.

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Inclusions and Exclusions of Pradhan Mantri Suraksha Bima Yojana

Inclusions	Exclusions
Accidental death — payout to the nominee	Death due to suicide
Permanent total disability (loss of both eyes, both hands/feet, or one eye and one hand/foot)	Death or disability due to self-inflicted injury or natural causes (illness or disease)
Partial permanent disability (loss of one eye or one hand/foot)	Partial disability without irrecoverable loss of sight in one eye or loss of use of one hand/foot
Natural calamity-related death or disability	Claims from multiple bank accounts for the same subscriber
Death due to murder	Hospitalization expenses

Eligibility Criteria and Application Process for PMSBY

Eligibility Criteria

All bank account holders between 18 to 70 years, other than institutional account holders, are eligible to subscribe to the PMSBY scheme.

In the case of a joint account, all holders of the account can join the scheme, provided they satisfy the eligibility criteria and pay the premium at the rate of ₹20 per person per annum through auto-debit.

Note: One person can hold only one PMSBY policy, even if they maintain multiple savings accounts. Duplicate coverage is not permitted.

How to Apply for PMSBY?

Visit Your Bank or Post Office

Walk into any participating bank branch, Business Correspondent (BC) point, or post office where you hold a savings account.

Fill Out the Enrollment Form

Obtain the PMSBY application-cum-auto-debit authorization form. This is available at the branch, online on the bank's website, or at the official Jan Suraksha portal.

Submit Required Documents

Provide your Aadhaar card (mandatory for account linking) or other accepted identity documents, a government-issued photo ID, and nominee details. Ensure your bank account is Aadhaar-seeded before enrollment.

Auto-Debit Authorization

Sign the auto-debit mandate. The premium will be deducted from the account holder's bank via the auto-debit facility in a single installment, as per the subscriber's consent at the time of enrollment.

Receive Your Certificate of Insurance

Once enrolled, you will receive a Certificate of Insurance. You can also get this certificate digitally on the Jan Suraksha portal within minutes of applying online.

Annual Renewal

The policy auto-renews on June 1 each year. No manual action is required as long as the account has a sufficient balance for the ₹20 premium deduction.

Note: For online enrollment or to track your application, visit jansuraksha.gov.in or jansuraksha.in. For assistance, contact your bank's helpline or call the Jan Suraksha toll-free helpline.

Documents Required to Apply for PMSBY

Category	Required Documents
Indian Residents	Aadhaar card (for account linking) + any government-issued photo ID + completed enrollment form
NRIs	Eligible Indian bank account details + Aadhaar or equivalent ID + nominee details in Indian currency
Joint Account Holders	Individual enrollment forms for each holder + Aadhaar details per person

PMSBY vs Private Insurance: Is It Enough on Its Own?

The PMSBY fills a critical gap for uninsured daily-wage workers, farmers, and informal-sector employees who have no employer-sponsored coverage. At ₹20 per year, the ₹2 lakh payout can provide meaningful short-term relief to a dependent family.

That said, PMSBY is not a substitute for comprehensive personal accident insurance. The cover may not adequately compensate for permanent disability if the insured is a primary earner with dependents, a home loan, or significant financial obligations. The scheme does not cover illness, hospitalization, or critical conditions. If you can afford it, pairing PMSBY with either of the following options can be an excellent move:

Term insurance (covers all causes of death (except suicide), including accidents) for financial protection.
Comprehensive health insurance for hospitalization expenses (including those incurred due to accidents).
Personal accident insurance policy for disability payouts (partial or short-term).

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Ditto’s Take on Pradhan Mantri Suraksha Bima Yojana

The Pradhan Mantri Suraksha Bima Yojana is one of the most impactful social security initiatives India has seen. If you or a family member does not already have accidental cover, PMSBY can offer a basic financial safety net at a very low cost.

However, if you want comprehensive coverage with better features and add-ons, it's worth considering term insurance, health insurance, or personal accident insurance for disability payouts in India.

Frequently Asked Questions

How do I make a claim under PMSBY?

In the event of an accident, the nominee or insured must notify the bank, which then coordinates with the insurance company. Supporting documents include the FIR, the post-mortem report (in case of death), the discharge summary, and the disability certificate from a government doctor (in case of disability).

What qualifies as an "accident" under PMSBY?

An accident means a sudden, unforeseen, and involuntary event caused by external, violent, and visible means. Natural calamity-related incidents also qualify.

Can I withdraw from PMSBY?

Yes, you can. Visit your bank branch and request the PMSBY cancellation form. Enter your account details, personal information, and signature. Submit identity proof along with the form. The bank will process your cancellation and stop future auto-debits.

What are the Pradhan Mantri Suraksha Bima Yojana benefits?

PMSBY provides affordable accidental insurance coverage, offering ₹2 lakh for accidental death or total disability and ₹1 lakh for partial disability. With a minimal annual premium, it ensures financial protection for individuals and their families against unforeseen accidents.