Pradhan Mantri Suraksha Bima Yojana Policy – Government of India launches new concept about Insurance. In spite of so many insurance companies operating in India with their products and services, there is a majority of people in rural areas, who are not at all covered under any insurance. Pradhan Mantri Suraksha Bima Yojana is for them. All those who are in below poverty line can get the Pradhan Mantri Suraksha Bima Yojana.
|| Check it out More Details – Pradhan Mantri LPG Subsidy PAHAL Yojana ||
Suraksha Bima Yojana Premium
All those who are Below Line poverty or poor Indian would be able to afford Suraksha Bima Yojana Premium. All those who are looking for Pradhan Mantri Suraksha Bima Yojana Policy can pay the premium is just Rs. 12 per annum for each family member. This amount will be deducted from the policyholders saving bank account directly.
Once Every year amount will be debited from the policyholder’s account on 1st June of every year. As foreseen, the premiums would remain equally low at least for next few years.
All those who are looking for Insurance for their family in India then it’s one of the best options is Pradhan Mantri Suraksha Yojana.
- The fatality remunerations of this Yojana are equal to 2 lakh.
- If a situation takes place that both the legs, hands, sight are not in a condition to be regained then, the victim will get an insurance coverage of up to two lakh.
- In case the Bima policyholder loses one foot, hand, leg, sight or eye, a sum of one lakh rupees will be presented to him or her
- In case of loss of one leg, hand, foot, eye or sight, the sum assured would be Rs 1 lakh
|| Pan Card Status ||
Suraksha Bima Yojana Eligibility
Following are the eligibility conditions for getting a policy
- Age limit: 18 to 70 years. The aspirant should have completed 18 years of age or should not be more than 70 years of age.
- Should have a saving bank account
- Should give a consent letter for auto-debit facility
Suraksha Bima Yojana Features
Here are some of the features of the prestigious PMSBY:
- The scheme would be renewed every year with a single year cover at a time
- These companies should be willing to offer a scheme similar to the one mentioned under PMSBY and should have adequate approvals and tie-ups for this purpose
- Banks would have a free hand in engaging any insurance company that intends to offer the scheme
Suraksha Bima Yojana The scope of coverage
- If the individual has a multiple saving accounts, he/she would be eligible to get just one insurance system attached to just one saving account
- The primary Know Your Customer document required for getting registered under the scheme would be Aadhar Card
- The premium for the scheme would be auto-debited from the saving account of the policy holder
- For the starting year, i.e. the year 2015, those interested in enrolling for the scheme can do so until 30th of November 2015
- If a policyholder exits the scheme during any year, he/she if wishes to rejoin it may do so in succeeding years with the same terms and conditions
Suraksha Bima Yojana Termination
In the event of following situations, the accident cover of the policy holder would be immediately terminated and no benefits would be paid thereafter:
- If the policyholder attains the age or 70 years
- If the policy holder closes his/her saving account and/or is not able to continue with the premium paying process or minimum balance in the saving account
- If the policy holder has opted for more than one policy under the scheme, the other policy except the oldest would be cancelled and terminated
- If the premium was not paid due to insufficient balance in the saving account, the policy would be terminated till a period when the policy holder pays the premium
- This is a noble scheme that aims to bring the uninsured into the mainstream insurance services. The scheme is much in line with the prestigious PM Jan Dhan Yojana and is actually a continuation of the latter. If the scheme succeeds, at least those living below poverty line in far flung areas would have a sigh of relief in case of event of accidents in their life.
Claim settlement process in surksha bima yojana (PMSBY)
Yes it is a fact that people are really enthusiastic about the launch of PM Suraksha Bima Yojana. Thanks to the innovative thought of PM Narendra Modi a large number of people are availing the benefit of people centric schemes. A lot of people might be skeptical about the benefits of this scheme, but it cannot be denied at all that people are being benefitted and the schemes are ultimately reaching the beneficiaries. Let us delve deep to check out the steps for availing the claim for the Suraksha Bima Yojana.
In the first step, you need to fill up the claim form and submit it along with Death certificate, the original document of FIR or Post Mortem report, Discharge certificate and Insurance certificate at the bank where you are supposed to get the Suraksha Bima Yojana in the savings account.
Then the bank branch shall send all documents to the nearest insurance office and there the scrutiny of the documents shall be done. The insurance company shall transfer claim amount in the bank account of that particular nominee and then notify the nearest branch of that bank.
This is the process and incase any discrepancy is there, the insurance company shall deal with the designated branch and the individual shall be notified immediately.