Prime Minister Suraksha Bima Yojana (PMSBY)
- Bank has executed MOU with UIIC (United India Insurance Co. Ltd.) on 21.4.2015 to implement this scheme.
- PMSBY was announced during Union Budget 2015-16 under which Rs. 2 lakh will be paid in case of accidental death and total permanent disability. In case of partial disability, the coverage would be to the extent of Rs.1 lakh.
- The PMSBY is available to people in the age group 18 to 70 years with a bank account who give their consent to join / enable auto-debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis. Aadhar would be the primary KYC for the bank account. The risk coverage under the scheme is Rs.2 lakh for accidental death and full disability and Rs. 1 lakh for partial disability. The premium of Rs. 20 per annum is to be deducted from the account holder’s bank account through ‘auto-debit’ facility in one installment.
PMSBY Consent - Cum - Declaration Form
PMSBY Claim Procedure