⚠️ Independent Information Only
This page is written by an independent website. It is not affiliated with the Government of India. Always apply through the official government website linked below.
Simple Overview
Pradhan Mantri Suraksha Bima Yojana (PMSBY) provides accident insurance at just ₹20 per year — one of the cheapest insurance products in the world. If you die in an accident or become permanently disabled, your family receives ₹2 lakh. For partial permanent disability (loss of one hand or one eye), you receive ₹1 lakh. Available to anyone aged 18–70 with a bank account.
Who Can Apply?
- Indian citizens aged 18 to 70 years
- Must have a savings bank account
- Must give auto-debit consent for annual ₹20 premium
Income Limits
No income limit.
Required Documents
- Savings bank account
- Aadhaar Card
- Nominee details
Step-by-Step Application Process
- 1Visit your bank or use mobile banking
Go to your bank branch or open the bank's mobile app. Ask for PMSBY enrolment or find it under insurance products.
- 2Fill the consent form
Provide nominee's name and relationship. Consent to annual auto-debit of ₹20.
- 3Done — ₹20 deducted each year
The ₹20 premium is automatically deducted around 1 June every year. Keep ₹20 in your account on that date.
- 4Keep your nominee informed
Tell your family about the policy, nominee name, and how to claim in case of an accident.
Benefits of the Scheme
- Accident insurance for ₹20/year — cheapest insurance available in India
- ₹2 lakh for accidental death or total permanent disability
- ₹1 lakh for partial permanent disability
- Available for ages 18–70
- No medical tests required
Common Mistakes to Avoid
- Not having ₹20 in account on auto-debit date — policy lapses
- Not informing nominee — family may not know to claim after an accident
- Confusing PMSBY with PMJJBY — PMSBY is accident-only; PMJJBY covers all deaths
Frequently Asked Questions
Visit the official government website to start your application. It is free and takes only a few minutes to begin.
🌐 Apply on Official Website