What is the amount of insurance cover available for accidental death under the Pradhan Mantri Suraksha Bima Yojana (PMSBY)?
₹2 lakh
Understanding Pradhan Mantri Suraksha Bima Yojana (PMSBY) Accidental Cover
The Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a government-backed accidental death and disability insurance scheme in India. It aims to provide affordable insurance coverage to the weaker sections of society. Understanding the details of the insurance cover is important.
PMSBY Accidental Death Insurance Amount
Under the Pradhan Mantri Suraksha Bima Yojana (PMSBY), the insurance cover provided for accidental death is a specific amount. This benefit is paid to the nominee in case of the policyholder's death due to an accident.
The amount of insurance cover available for accidental death under the Pradhan Mantri Suraksha Bima Yojana (PMSBY) is ₹2 lakh.
Other Benefits Under PMSBY
Besides accidental death, the PMSBY scheme also covers disability resulting from an accident. The benefits for disability are as follows:
- Permanent Total Disability: This covers 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 one hand or foot. The cover amount is also ₹2 lakh.
- Permanent Partial Disability: This covers total and irrecoverable loss of sight of one eye or loss of use of one hand or foot. The cover amount is ₹1 lakh.
Eligibility and Premium for PMSBY
The PMSBY scheme is available to people aged 18 to 70 years. Account holders of participating banks can enroll. The annual premium for this scheme is very low, making it accessible to a large population.
The annual premium for the Pradhan Mantri Suraksha Bima Yojana (PMSBY) is currently ₹20.
Summary of PMSBY Coverage
| Benefit Type | Insurance Cover Amount |
|---|---|
| Accidental Death | ₹2 lakh |
| Permanent Total Disability | ₹2 lakh |
| Permanent Partial Disability | ₹1 lakh |
Therefore, the insurance cover available for accidental death specifically under the Pradhan Mantri Suraksha Bima Yojana (PMSBY) is ₹2 lakh.
Revision Table: Pradhan Mantri Suraksha Bima Yojana Details
Reviewing the key features of PMSBY can help reinforce your understanding:
- Scheme Name: Pradhan Mantri Suraksha Bima Yojana (PMSBY)
- Type: Accidental Death and Disability Insurance
- Age Eligibility: 18 to 70 years
- Annual Premium: ₹20
- Accidental Death Cover: ₹2 lakh
- Permanent Total Disability Cover: ₹2 lakh
- Permanent Partial Disability Cover: ₹1 lakh
Additional Information: Other Social Security Schemes
PMSBY is part of a broader effort by the government to provide social security. Some related schemes include:
- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY): A life insurance scheme offering ₹2 lakh cover for death due to any cause, with an annual premium of ₹436.
- Atal Pension Yojana (APY): A pension scheme focused on the unorganized sector, providing a guaranteed minimum monthly pension after age 60.
These schemes together form a social security net aimed at protecting citizens against various risks.
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