In today’s hectic life, it is very important for every person to have insurance. In such a situation, under a scheme of the government, you can get accidental insurance of Rs 2 lakh by spending Rs 12. The name of this scheme is Pradhan Mantri Suraksha Bima Yojana (PMSBY). The premium of Rs 12 is for one year.
Eligibility to take advantage of the scheme
Any bank account holder between the age of 18 to 70 years can take advantage of this scheme of the government. Under the Pradhan Mantri Suraksha Bima Yojana, the insurance period for every year is from June 1 to May 31.
Claims must be made within 30 days
Under the Pradhan Mantri Suraksha Bima Yojana (PMSBY), a claim has to be made within 30 days in case of an accident. This claim is settled in a maximum of 60 days. To take insurance under this scheme, you should have sufficient balance in your account till 31st May so that this amount is auto deducted.
In this situation you will get 2 lakhs
If the policyholder dies, then under this scheme (Pradhan Mantri Suraksha Bima Yojana), there is a provision for the nominee to get Rs 2 lakh. In the accident, complete loss of both eyes or both hands or both legs becomes incapacitated or one eye is lost or one hand or one leg is not functional, then Rs 2 lakh is given to the policyholder.
In this way you will get one lakh
If the policyholder has a total and irreparable loss of sight in one eye or loss of function of one hand or one leg in an accident, then there is a provision of getting one lakh rupees in this situation.
Insurance cover will not be available in this situation
If there is not sufficient amount in the savings account linked to the insurance policy or the policyholder has closed the account, then the cover will not be available. If the insurance of the insured is covered by more than one bank account and the premium is received by the company inadvertently, then the cover will be available on only one account.
Where to get this scheme
You can apply for this scheme (PMSBY) through your bank. Apart from this, you can buy from government general insurance companies or any other general insurance companies that are offering this product on terms and on tie-up with the bank.
