- Eligibility
- Premium
- Payment mode
- Risk coverage
- Implementation
- Govt contribution
Premium:
Rs. 12 per annum.
Payment Mode:
- Pradhan Mantri Suraksha Bima Yojana will be directly auto-debited by the bank from the subscribers account on or before 1 st June of each annual coverage period under the scheme.
Risk Coverage:
- Death – Rs 2 Lakh
- 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
- Total and irrecoverable loss of sight of one eye or loss of use of one hand or foot – Rs.1 Lakh.
Eligibility :
- Available to people in age group 18 to 70 years with bank account.
- Any person having a bank account and Aadhaar number linked to the bank account can give a simple form to the bank every year before 1st of June in order to join the scheme.
- Name of nominee to be given in the form.
Terms of Risk Coverage :
- A person has to opt for the scheme every year. S/He can also prefer to give a long-term option of continuing in which case his/her account will be auto-debited every year by the bank.
Who will implement this Scheme?
- The scheme will be offered by all Public Sector General Insurance Companies and all other insurers who are willing to join the scheme and tie-up with banks for this purpose.
Government Contribution:
- Various Ministries can co-contribute premium for various categories of their beneficiaries from their budget or from Public Welfare Fund created in this budget from unclaimed money. This will be decided separately during the year.
- Common Publicity Expenditure will be borne by the Government.
