What is Pradhan Mantri Suraksha Bima Yojana?

Accidents are unpredictable and can leave you with serious injuries and sometimes even cause death. However, with an insurance cover, you can create a financial shield for such eventualities. And if you have been waiting all this while for an insurance policy that fits right into your budget, trust the Pradhan Mantri Suraksha Bima Yojana. With this comprehensive insurance plan, you don’t have to worry about the financial consequences of an accident.

The Pradhan Mantri Suraksha Bima Yojana offers a one-year cover against disability or death due to accidents. You can renew it every year for an annual premium of just Rs. 12. 

Appropriation of Premium 

Appropriation of Premium 

i. The insurance premium payable to Insurance Company (i.e. us): Rs. 20/- per annum per member

Out of this amount,

ii. Reimbursement of expenses to Business Correspondent or Micro-insurance Agent or Corporate Agent or Insurance Agent or Insurance Marketing Firm shall be: Re. 1/- per annum per member

iii. Reimbursement of administrative expenses to participating bank by us: Re. 1/- per annum per member

Note: In case of voluntary enrolment by an accountholder through electronic means, the expense in point (ii) will not apply and so, Re. 1/- in this regard will accrue as a benefit to the subscriber.