Pradhan Mantri

Suraksha Bima
Yojana
Presented by : Dr. Anamika Gupta

 Pradhan Mantri Suraksha Bima Yojana is a

government-backed accident insurance scheme in

India. It was originally mentioned in the
2015 Budget speech by Finance Minister Arun
Jaitley in February 2015. It was formally launched
by Prime Minister Narendra Modi on 9 May in
Kolkata. As of May 2015, only 20% of India's
population has any kind of insurance, this scheme
aims to increase the number.

 Pradhan Mantri Suraksha Bima Yojana is available to

people between 18 and 70 years of age with bank

accounts. It has an annual premium of 12
excluding service tax, which is about 14% of the
premium. The amount will be automatically debited
from the account.
In case of accidental death or full disability, the
payment to the nominee will be 2 lakh and in
case of partial Permanent disability 1 lakh .
Full disability has been defined as loss of use in
both eyes, hands or feet. Partial Permanent
disability has been defined as loss of use in one
eye, hand or foot.
This scheme will be linked to the bank accounts
opened under the Pradhan Mantri Jan Dhan Yojana
scheme. Most of these account had zero balance
initially. The government aims to reduce the
number of such zero balance accounts by using this
and related schemes.

Mode of payment of premium

The premium amount will be deducted

from the account holders savings bank

account through auto debit facility in
one installment for the entire year, as
per the option to be given on
enrollment.

Termination of benefit cover

In following cases the cover will be terminated
and no benefit will be payable to the
subscribers:

On attaining age 70 years or the age

nearest birth day

At the time of renewal in subsequent years ,
due to insufficiency of balance to keep
the insurance in force the account gets
closed.
In case a subscriber is covered by more
than one account and premium is paid
by the subscriber intentionally,
insurance cover will be restricted to one only
and the premium shall be liable to be

 Pradhan Mantri Suraksha Bima Yojana

Participating banks will deduct the premium

amount in the same month when the auto
debit option is given, preferably in May of
every year, and remit the amount due to the
Insurance Company in that month itself.

Results:
124,738,419 people i.e. 124 millions Indians
have already enrolled for this scheme as of 2
February 2016.

Thank You!!!