Pradhan Mantri Suraksha Bima Yojana
Shown as running by: PIB, Ministry of Finance: Jan Suraksha schemes complete 11 years (9 May 2026) (9 May 2026, 2. Pradhan Mantri Suraksha Bima Yojana (PMSBY): “Premium: Rs.20/- per annum per member” and Table of Benefits; Achievements as on 29.04.2026)
Accident cover of ₹2 lakh for death or total disability (₹1 lakh for partial disability) for any bank or post office account holder aged 18 to 70, for ₹20 a year.
- Lead benefit
- ₹2,00,000accident cover for ₹20 a year
- Components
- 1each read from the document
- Who can apply
- Allapplicants
- Closing date
- Seasonalsee “When to apply”
What it pays
For ₹20 a year: ₹2 lakh on accidental death or loss of both eyes, hands or feet; ₹1 lakh on loss of one eye, hand or foot.
What the document says, word for word
Cover ends at 70 or if the account is closed or lacks balance (Termination of cover 1–2). Only one account can carry the cover. The premium is reviewed every year on claims experience.
“Table of Benefits Sum Insured a Death Rs. 2 Lakh b 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 hand or foot Rs. 2 Lakh c Total and irrecoverable loss of sight of one eye or loss of use of one hand or foot Rs. 1 Lakh Premium: Rs. 20/- per annum per member.”How much can I claim?
Accident cover: ₹2,00,000 for death or total disability, ₹1,00,000 for partial disability, for ₹20 a year auto-debited from your account.
Cover ends at 70 or if the account is closed or lacks balance (Termination of cover 1–2). Only one account can carry the cover. The premium is reviewed every year on claims experience.
Who can apply
- All applicants
Papers you need
- A savings bank or post office account, with Aadhaar as the primary KYC
How to apply
- At the bank or post office where you have a savings account, fill the PMSBY enrolment and auto-debit form; you can join through one account only (Rules, Scope of coverage; Enrolment Modality).
- Keep ₹20 in the account before 1 June each year; if it is debited later, cover starts from the date of the debit (Premium).
- You may give a standing (longer) auto-debit option so the cover renews every year (Enrolment Modality).
Applying is free. Never pay anyone to apply for you.
When to apply
Cover runs 1 June to 31 May; you can also join later in the year on paying the full ₹20.
Combining with other schemes
The documents do not say whether this can be combined with other schemes. Ask the implementing office before you count on both.