Insurance is important as it provides financial support and reduces uncertainties in business & human life. It also provides a cover against any sudden loss. In addition, insurance also offers an investment channel too.
The central government is running two insurance schemes with very low premiums for the economically weaker sections. The first number is Pradhan Mantri Jyoti Bima Yojana and the other is Pradhan Mantri Suraksha Bima Yojana (PMSBY). This is an accident insurance scheme. Both these schemes provide an insurance cover of up to Rs. 4 lakhs. If you want to get the benefit of both these schemes, then you have to pay only Rs. 342 rupees annually as a premium. The premium is deposited every year in May or June and this premium is deducted from your bank account directly.
Under Pradhan Mantri Suraksha Bima Yojana, the risk coverage available is Rs 2 lakh for accidental death & permanent total disability & Rs 1 lakh for permanent partial disability. Permanent total disability means total & irrecoverable loss of both eyes or loss of use of both hands or feet or loss of an eyesight & loss of use of a hand or a foot. Permanent partial disability means total & irrecoverable loss of an eyesight or loss of use of a hand or foot.
Who can take benefit of Pradhan Mantri Suraksha Bima Yojana?
Anyone from 18 to 70 years can take advantage of this scheme.
To take advantage of this scheme, it is necessary to have an account in the bank.
Where to buy?
The scheme is offered or administered through Public Sector General Insurance Companies and other general insurance companies, in cooperation with participating banks. Banks are free to engage any general insurance company for executing the scheme for their subscribers.
How to Register for Pradhan Mantri Suraksha Bima Yojana
To register, you can download the form from http://www.jansuraksha.gov.in/Forms-PMSBY.aspx and submit it to your bank. Some banks have also started SMS-based enrolment and net banking process too.
You can apply for Pradhan Mantri Suraksha Bima Yojana by visiting any bank like ICICI, HDFC, Axis bank etc. Another way is to do registration online through these banks.
If you want the premium amount to be deducted from your bank account itself, then you will have to tell it at the bank.
Apart from this, you can also contact an insurance agent for this.
