The Union Government launched the PMSBY policy, a personal accident insurance scheme, in 2015. It provides death and disability cover, which you can renew annually.
Public and private sector general insurance companies administer this insurance scheme in tie-up with participating banks. You can get this scheme with an affordable premium of as little as ₹20 per annum per member.
This Central Government accident insurance scheme enables people to get affordable insurance and access financial security.
This plan assists family members in managing financial burdens if the insured gets hurt or is met with an unfortunate demise in an accident. Over 45 crore people have enrolled for this scheme as on July 31, 2025.
Features and Benefits of the PMSBY Scheme
This insurance offers a simple and accessible way to safeguard your family's financial future. Check out the PMSBY scheme details below-
Affordable Premium
The Government has kept the cost of the policy low to make it accessible to a wide range of individuals
Auto-debit Facility
The premium payments will be automatically deducted from your bank account annually for renewal
Easy Access
PMSBY is easily accessible through various channels, including banks and post offices.
Adequate CoverageThis scheme extends accidental death and disability coverage of up to ₹2 Lakhs
How to Enrol Pradhan Mantri Suraksha Bima Yojana
You can initiate the registration process for this scheme via the onboarding bank’s internet portal or an SMS facility.
Activate the Policy Using the SMS Facility
You will have to send an SMS to the onboarding bank’s number to raise an activation request. Reply ‘PMSBY Y’ to complete the process and receive an acknowledgement slip.
Activate the Policy Using the Internet Banking Facility
While the exact steps may differ across banks, you need to follow this process:
Log in to your account and click on the ‘Insurance’ segment
Find and select the ‘PM Suraksha Bima Yojana’
Choose the account from which you want to make the premium payment
Make an online payment to receive the policy
Coverage of Pradhan Mantri Suraksha Bima Yojana
This government-backed insurance scheme provides accidental death and disability coverage. Check out the details below:
Type of Coverage
Sum Insured
Death
₹2 Lakhs
Total and irrecoverable loss of both eyes/Use of both hands or feet/Sight of one eye and loss of use of hand or foot
₹2 Lakhs
Loss of sight of one eye/Use of hand or foot
₹1 Lakh
Exclusions Under Pradhan Mantri Suraksha Bima Yojana
As mentioned earlier, you can claim this insurance only in the case of accidental death and disability. However, the following are some exclusions under the PMSBY scheme:
Death or injuries due to intentional self-harm
Non-permanent or partial disabilities with irrecoverable loss
Eligibility Criteria of Pradhan Mantri Suraksha Bima Yojana
To enjoy coverage under this scheme, you need to qualify for certain parameters.
You must be between 18 and 70 years of age
You must hold a bank account in the bank registered under the scheme
List of Banks Providing the PMSBY Scheme
The general insurance companies offer this insurance policy through a network of participating banks and post offices. Check out a list of some of the registered banks:
Allahabad Bank
Axis Bank
Bank of India
Bank of Maharashtra
Bharatiya Mahila Bank
Canara Bank
Central Bank
Corporation Bank
Dena Bank
Federal Bank
HDFC Bank
ICICI Bank
IDBI Bank
IndusInd Bank
Kerala Gramin Bank
Kotak Bank
Oriental Bank of Commerce
Punjab and Sind Bank
Punjab National Bank
South Indian Bank
State Bank of Hyderabad
State Bank of India
State Bank of Travancore
Syndicate Bank
UCO Bank
Union Bank of India
United Bank of India
Vijaya Bank
How to Renew Pradhan Mantri Suraksha Bima Yojana
The bank will deduct the renewal premium for the policy each year between May 25 and May 31. Your PMSBY insurance policy will renew automatically unless you provide a cancellation request.
PMSBY Premium
The amount payable to secure this insurance coverage is relatively low as it is a government-backed policy. You can receive this policy by paying an annual premium of ₹20.
Claim Process of Pradhan Mantri Suraksha Bima Yojana
In the event of an unfortunate incident, you can file for an accidental claim under this scheme. Follow these simple steps:
Submit the duly filled claim form in case of death or disability due to an accident within 30 days of the incident
Attach the supporting documents with the form
The bank will verify the claim request and send it to the partner insurer
The insurer will remit the amount after verifying your request, documents, and other details
Documents Required for Pradhan Mantri Suraksha Bima Yojana
Keeping the paperwork ready can simplify your claim process. The following are some of the documents you need:
Proof of permanent disability or death due to an accident
Aadhaar and PAN numbers of the insured member and the claimant
KYC documents of the nominee, appointee, or the claimant
First two pages of passbook or bank, post office account statement, or cancelled cheque of the account of the nominee/appointee/claimant
Advance receipt for discharge of claim, duly filled in and signed
How to Check the PMSBY Application Status
The process to track your Pradhan Mantri Suraksha Bima Yojana can vary across banks. However, you may need to follow these basic steps:
Visit the onboarding bank’s website and log in to your account
Click on the ‘Insurance’ section and select the ‘PMSBY’ option
Enter your bank account number and application number
Click on the ‘Submit’ button to track the application status
Conditions for Termination of Pradhan Mantri Suraksha Bima Yojana
The following are circumstances when your PMSBY policy will be terminated:
When you attain the age of 70 years
If you have closed the bank/post office account or have insufficient balance to keep insurance in force
In case you make premium payment through two different accounts
Pradhan Mantri Jeevan Jyoti Bima Yojana vs PMSBY
Both these are government-backed life insurance schemes in India that offer affordable coverage. Check out how they differ:
Basis
Pradhan Mantri Jeevan Jyoti Bima Yojana
Pradhan Mantri Suraksha Bima Yojana
Objective
Provides life cover
Provides accidental death and disability cover
Type of Coverage
Cover for death due to listed reasons, including natural causes
Accidental death and disability cover
Coverage Amount
₹2 Lakhs
Up to ₹2 Lakhs
Eligible Age
Individuals between 18 and 50 years
Indian citizens between 18 and 70 years
Premium
₹20 per year per member
₹436 per year per member
Enrolment Period
One Year (From May 31 to June 1)
One Year (From May 31 to June 1)
Renewal
Every year
Every year
PMSBY Customer Care Numbers
To get a resolution for any complaint or query, you can contact the following national toll-free numbers:
1800-180-1111
1800-110-001
As per the PMSBY rules, total disability refers to the following conditions Irrecoverable loss of both eyes Irrevocable loss of use of both hands or feet Total loss of sight of one eye and loss of use of hand or foot.
The bank automatically deducts the premium amount from your bank account to renew the policy
The PMSBY scheme offers the following types of insurance coverage: Cover for accidental death Total and irrecoverable loss of both eyes, use of both hands or feet, or sight of one eye and loss of use of hand or foot Loss of sight of one eye or use of hand or foot
Yes, you can call the following national toll-free numbers for any query or complaint regarding the policy: 1800-180-1111 1800-110-001
Yes, you can get a benefit of ₹1 Lakh in case of a partial disability of a permanent nature.
Yes, a non-resident Indian (NRI) holding a bank account in a registered bank under this scheme in India can subscribe to this policy.
No, this policy does not support reimbursement of hospitalisation expenses.
The maximum age to subscribe to this insurance policy is 70 years.
No, this insurance scheme only covers accidental death and disability.
No, you will have to file a claim under PMSBY within 30 days of the occurrence of the accident.
For accidental death and total disability, this insurance scheme extends coverage of ₹2 Lakhs. For the loss of sight of one eye and a loss of a hand or foot, you will receive a payout of ₹1 Lakh.
