PMSBY
Pradhan Mantri Suraksha Bima Yojana
PMSBY (Pradhan Mantri Suraksha Bima Yojana) is arguably the world's most affordable insurance product — ₹20 per year (₹1.67 per month) for ₹2 lakh accidental death or total permanent disability cover. It was launched alongside PMJJBY in May 2015 as part of the Jan Suraksha social security trio.
**What PMSBY Covers:**
- Death due to accident: ₹2 lakh paid to nominee
- Total permanent disability (loss of both eyes, or both hands/feet, or one eye and one hand/foot): ₹2 lakh
- Partial permanent disability (loss of one eye, or one hand/foot): ₹1 lakh
What PMSBY does NOT cover: natural death, death due to illness, pre-existing disability, self-inflicted injury, suicide, war, nuclear risk.
**How It Works:**
₹20 is auto-debited from your bank account on 1 June each year. The RuPay card linked to a Jan Dhan account also has accident insurance, but PMSBY is a standalone additional layer. The RuPay card accident insurance of ₹2 lakh requires the card to have been used at least once in the 45 days before the accident. PMSBY has no such condition — coverage is continuous.
**PMSBY for Workers in Accident-Prone Jobs:**
Construction workers, transport workers, factory workers, agricultural workers, and fishermen face significantly higher accident risks than desk workers. At ₹20/year, PMSBY is affordable even for daily wage workers earning ₹300/day. Loss of a hand or eye (partial disability, ₹1 lakh) is especially relevant for manual workers.
**PMSBY + PMJJBY = ₹456/Year Total Coverage:**
PMSBY (₹20) + PMJJBY (₹436) = ₹456/year for:
- ₹2 lakh for any death (PMJJBY)
- ₹4 lakh total for accidental death (PMJJBY ₹2L + PMSBY ₹2L)
- ₹1 lakh for partial disability (PMSBY)
This is the minimum recommended coverage for any working adult in India.
Key Objectives
- Provide affordable accident insurance to workers and citizens outside formal employment.
- Cover the financial impact of accidental disability on family income.
- Expand insurance penetration to populations with zero formal insurance cover.
Benefits
Eligibility
- Indian citizens with a bank account aged 18–70 years
- No medical examination required
- No income restriction — all income levels eligible
- Only ONE PMSBY subscription per person
- Bank account must have ₹20 balance on 1 June for auto-debit
- RuPay card linked to Jan Dhan account also provides ₹2 lakh accident cover — PMSBY is additive/separate
How to Apply
Visit bank branch or enrol via net/mobile banking
Fill PMSBY enrolment-cum-auto-debit consent form
Provide nominee details
₹20 debited — coverage starts immediately
For claim: nominee submits claim form, police FIR/accident report, death/disability certificate, nominee's ID and bank account details
Required Documents
Frequently Asked Questions
What does PMSBY cover exactly — what qualifies as an 'accident'?
PMSBY covers bodily injury or death directly caused by accident — including road accidents, rail accidents, drowning, fall from height, burns, electrocution, machinery accidents, and other sudden unexpected physical events. It does NOT cover: illness-related death (heart attack, stroke), pre-existing disability, self-inflicted injuries, suicide, war, or nuclear risk.
How do I claim PMSBY after an accident?
For death claims: nominee collects the PMSBY claim form from the bank, attaches the death certificate, police FIR/accident report, post-mortem report (if applicable), and nominee's identity and bank account details. For disability claims: the insured person submits the claim with a disability certificate from a Civil Surgeon or government hospital, along with the accident report. Submit all documents to the bank — they forward to the insurance company for settlement within 30 days.
I have a Jan Dhan account with a RuPay card — do I still need PMSBY?
Yes — PMSBY is recommended even if you have a Jan Dhan RuPay card. The RuPay card's ₹2 lakh accident insurance requires the card to have been used at least once in the 45 days before the accident. PMSBY has NO such condition. PMSBY is continuous, unconditional coverage. At ₹20/year, there is no reason not to have both.
My father had PMSBY and died in a road accident. How do I claim as his nominee?
Step 1: File an FIR at the nearest police station if not already done (accident report is mandatory). Step 2: Visit the bank where your father had PMSBY and get the claim form. Step 3: Submit: completed claim form, death certificate, post-mortem report, FIR/accident report, your (nominee's) Aadhaar/ID proof, your bank account details. Step 4: Bank sends claim to insurer. Claim settled within 30 days.
Does PMSBY cover a worker who loses a finger in a factory accident?
PMSBY covers loss of one eye or loss of one hand or one foot (partial permanent disability, ₹1 lakh) and loss of both eyes or both hands/feet (total permanent disability, ₹2 lakh). Loss of a single finger is not covered — the disability must be at the hand or foot level (amputation). For serious factory injuries resulting in hand amputation, PMSBY pays ₹1 lakh (partial disability).