Pradhan Mantri Suraksha Bima Yojna
Eligibility: Available to people in age group 18 to 70 years with bank account.
Premium: Rs.12 per annum.
Payment Mode: The premium will be directly auto-debited by the bank from the subscribers account. This is the only mode available.
Risk Coverage: For accidental death and full disability – Rs.2 Lakh and for partial disability – Rs.1 Lakh.
Eligibility: Any person having a bank account and Aadhaar number linked to the bank account can give a simple form to the bank every year before 1st of June in order to join the scheme. Name of nominee to be given in the form.
Terms of Risk Coverage: A person has to opt for the scheme every year. He can also prefer to give a long-term option of continuing in which case his account will be auto-debited every year by the bank.
Who will implement this Scheme?: The scheme will be offered by all Public Sector General Insurance Companies and all other insurers who are willing to join the scheme and tie-up with banks for this purpose.