Pradhan Mantri Suraksha Bima Yojana is one of human security yojana that the government had declared in 2015.
What is PMSBY?
A collision insurance scheme, PMSBY offers a one-year unexpected death and handicap cover, which can be recovered annually.
What all is included and for how significant
As on May 14, 2018, nearly 14 crore people had enroled under this yojana, with almost 2 lakh registering it on a weekly basis.
Permanent total disability is defined as total and hopeless loss of both eyes or loss of use of both hands or feet or loss of an eyesight and loss of use of a hand or a foot. Permanent unfinished disability is defined as total and irrecoverable loss of an eyesight or loss of use of a hand or foot.
Important insertions and bans
Misfortunes, any death or disability (as defined under PMSBY) resulting from natural disasters is covered under PMSBY. While death due to suicide is not covered, that from murder is covered. Incomplete handicap without irretrievable loss of an eyesight or loss of use of one hand or foot is not covered.
All person (single or joint) bank account holders in the 18-70 year age group are eligible to join PMSBY. In case you have various bank accounts in one or different banks, then you will be available to register the scheme through one bank account only. In the case of a joint statement, all holders of the report can join the project. Even NRIs are eligible, but if a request arises, the required benefit will be paid to the beneficiary/nominee only in Indian currency.
Where to get the scheme from?
The scheme is recommended by /administered through Public Sector General Insurance Companies (PSGICs) and other general insurance companies, in collaboration with participating banks. The banks are free to join any general insurance company for executing the scheme for their contributors.
Here is an easy example to activate the services through SMS:
1. Qualified customers will be sent an SMS asking them to respond as ‘PMSBY Y.’
2. To register for the scheme, the customer replies as ‘PMSBY Y’.
3. Customer will get an answer message for receipt of the response.
4. For processing the request, the demographic details and the candidate name, nominee relationship and nominee date of birth will be taken from the details present in.
What to do in the matter of a case?
PMSBY wraps deaths caused by accident and confirmed by documentary proof. In case of occurrences like road, rail and similar vehicular collisions, drowning, death including any crime, etc., the collision should be reported to the police. In case of incidents like a snake bite, fall from the tree, etc., the cause should be supported by the next hospital record.
To register, you can download the form from
http://www.jansuraksha.gov.in/Forms-PMSBY.aspx, and submit it to your banker. Some banks have initiated.