FinancePMSBY
Pradhan Mantri Suraksha Bima Yojana
Affordable government-backed accident insurance scheme offering up to ₹2 Lakh coverage for death or disability.
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Up to ₹₹2,00,000
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Apply on official portalOpens the official portal · We never charge
Official fee
₹0
The official annual premium is ₹20, which is auto-debited directly by your bank. Do not pay cash or additional fees to external agents.
Beware of lookalike portals
Watch out for fraudulent portals or SMS links demanding high upfront fees or OTPs for PMSBY subscription activation. Always use official banking channels.
Only the "Apply on official portal" button above leads to the verified government site.
Highlights and Media
Key Highlights
High Accident Cover
Up to ₹2 Lakh insurance cover in the event of accidental death or permanent total disability.
Extremely Affordable
Annual premium of only ₹20 auto-debited directly from the policyholder's bank account.
Seamless Claim Settlement
Claims are settled directly into the nominee's or policyholder's bank account via direct transfer.
PMSBY Insurance Benefit Slabs
Payout limits depending on the accidental claim circumstances
Who is eligible
- Applicant is between the eligible age group of 18 and 70 years.
Eligibility rules · v1 · effective 1 June 2022
Who is not eligible
- PMSBY enrollment is restricted to bank account holders aged between 18 and 70.
- PMSBY enrollment is restricted to bank account holders aged between 18 and 70.
How to apply
Link Bank Account
Log in to net banking or visit your branch to submit the PMSBY enrollment form.
Typical duration · 1 day
Consent for Auto-Debit
Authorize auto-debit of ₹20 annual premium from the linked bank account.
Typical duration · 1 day
Policy Issuance
Receive the policy enrollment confirmation and certificate from the bank.
Typical duration · 3 days
Sources
- Jan Suraksha Portal — Department of Financial ServicesMINISTRY_PORTAL · Fetched 5 July 2026
Additional Details
Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a government-backed accident insurance scheme in India designed to provide financial security to bank account holders against accidental death or permanent/partial disability. Open to individuals aged 18 to 70 years, the policy provides a cover of ₹2 Lakh in case of accidental death or permanent total disability, and ₹1 Lakh for permanent partial disability. The annual premium of ₹20 is auto-debited from the subscriber's bank account, making it one of the most affordable social security insurance instruments globally.
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