There are many types of insurance such as health insurance, life insurance, term insurance accidental insurance, etc. All have different benefits. Many people have become quite aware of health insurance, but they still do not give much importance to the rest. However, according to financial experts, these insurances should be in our portfolio so that you or your family can get help in times of trouble.

Usually, people with money can buy them, but the poor and the needy consider buying them a wasteful expenditure due to financial problems. For such people, the government runs some schemes with very low premiums. One of these schemes is Pradhan Mantri Suraksha Bima Yojana. Accidental insurance cover of up to Rs 2 lakh is given in this scheme. To avail of the benefits of the scheme, a person has to pay a premium of only Rs 20 annually, which anyone can pay very easily. Know the special things related to this scheme here.

People from 18 to 70 years old can take advantage.

The objective of PMSBY is to provide security insurance to the large population of India. Earlier its annual premium was Rs 12, which has been increased to Rs 20 from June 1, 2022. This is an amount which even the poor people can easily pay. If the insured person dies during the accident, then the insurance amount is given to his nominee. The benefit of this scheme can be availed from the age of 18 years to 70 years. If the age of the beneficiary is 70 years or more, then the Pradhan Mantri Suraksha Bima Yojana will be terminated. Every year the insurance amount is deducted from your account before June 1.

In these situations, you get a benefit of Rs 2 lakh.

If the insured person dies under this scheme, then the nominee is given the help of up to Rs 2 lakh. Apart from this, in case of complete disability like complete loss of eyes, loss of hands and feet, or complete loss of one eye or one hand or one foot, a benefit of up to Rs 2 lakh is given. In case of permanent partial disability, a benefit of up to Rs 1 lakh can be given.

Terms and conditions of Pradhan Mantri Suraksha Bima Yojana

The annual premium of Rs 20 given for Pradhan Mantri Suraksha Bima Yojana is valid only for 1 year. After this the scheme has to be renewed.

In case of death or disability in an accident, the insurance amount will be given as per the rules.

The age of the scheme must be between 18 to 70 years and the applicant must be an Indian.

The candidate must have an active savings account. In case of closure of the account, the policy will also lapse.
The applicant will have to sign a consent form for auto debit of the policy premium.

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