The Government of India, as a part of its Social Security Measures, has announced PMSBY offering Personal Accident cover of Rs. 2,00,000/- at a nominal annual premium of Rs. 20/- for all Savings Bank account holders aged between 18 and 70 years.
All Savings Bank Customers aged between 18 to 70 years are eligible. In case of multiple savings bank accounts held by an individual in one or different banks, the person can join the scheme through only one account.
| Sl No. | Table of Benefits | Sum Insured |
|---|---|---|
| 1 | Death due to Accident | Rs. 2 Lakh |
| 2 | 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 |
| 3 | Total and irrecoverable loss of sight of one eye or loss of use of one hand or foot | Rs. 1 Lakh |
The scheme is a one year Personal Accident Insurance Scheme, renewable every year, offering protection against death or disability due to accident.
The premium will be deducted automatically from the subscriber’s bank account through auto-debit facility.
All individual account holders between 18 and 70 years are eligible to join the scheme.
Yes. Accidental death/disability caused by natural calamities such as floods or earthquakes is covered under PMSBY.
No. Suicide is not covered under the PMSBY scheme.
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