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The Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a social security insurance scheme introduced by the Government of India in the 2015 Budget.

It’s an accidental insurance scheme backed by the Government, offering financial protection against total disability and accidental death to people aged 18 to 70 years. You can avail of the benefits of the scheme at an annual premium of just Rs. 12.

The PMSBY scheme offers a life cover of Rs. 2 lakh in the case of permanent total disability or accidental death. In case of permanent partial disability, the scheme offers a life cover of Rs. 1 lakh.

In this blog, we understand the eligibility criteria and the steps for applying to the PM Bima Suraksha Yojana and help you understand how you can file an insurance claim for the same.

Eligibility criteria for availing the benefits of Pradhan Mantri Bima Suraksha Yojana

You are eligible to apply for the PMBSY scheme if you fall within the age group of 18 to 70 years. Both resident Indians and NRIs can avail the benefits of this scheme. However, the claim amount is paid only in Indian rupees.

Listed below are the key points you should know about the eligibility criteria for availing of the benefits of the PMSBY scheme:

  • The minimum age of the applicant is 18 years, while the maximum age is 50 years.
  • You must have an individual or a joint bank account in your name. If you have multiple bank accounts, you can apply for the PMSBY scheme only from one bank account.
  • In the case of a joint account, all account holders can apply for the PMSBY insurance scheme from the same bank account.
  • You must have an Aadhaar Card number for KYC purposes
  • Your bank account must be linked with your Aadhaar Card. If your Aadhaar Card is not linked to your bank account, you must attach a copy of your Aadhaar Card with the application form.

Documents required to apply for the Pradhan Mantri Bima Suraksha Yojana

Listed below are all the documents that must accompany your application form to apply for the PMSBY scheme:

  • Identity proof
  • A copy of your (if your bank account is not linked with your Aadhaar and for KYC purposes)
  • Nominee details
  • Contact information

How to apply for the Pradhan Mantri Bima Suraksha Yojana?

You can apply for the PMSBY scheme either via SMS or net banking. Follow the steps below to get started:

1.    SMS

  • Step 1: Send a text to the bank’s or insurance company’s toll-free number
  • Step 2: Send ‘PMSBY Y’ in reply to the activation SMS
  • Step 3: You’ll receive an acknowledgment message.

The participating bank account will process your bank details. However, if your details are not available in the bank records, your application would not be processed. The policy coverage will also cease in case the auto-debit of premium amounts fails due to insufficient balance.

2.    Net banking

  • Step 1: Log in to the policy’s official website
  • Step 2: Click on the Insurance option
  • Step 3: Select the account from which you want to pay the premium
  • Step 4: Add a nominee
  • Step 5: Verify the details you have entered in the application form and confirm
  • Step 6: You will receive the acknowledgment with your unique identification number

What’s covered under the PMSBY scheme?

Here’s what’s covered under the PMSBY scheme:

  • Death due to accidents and natural calamities with a cover of Rs. 2 lakh
  • Death by murder with a cover of Rs. 2 lakh
  • Permanent total disability, such as loss of eyes or limbs with a cover of Rs. 2 lakh
  • Permanent partial disability with a cover of Rs. 1 lakh

What’s not covered under the Pradhan Mantri Bima Suraksha Yojana?

The PMSBY is an insurance policy that gives you financial protection against  and permanent disability. However, some restrictions on the manner of death are covered under the policy. The scheme does not cover the applicant’s death by suicide. Furthermore, the insurance scheme also does not cover non-permanent disabilities.

How to file a claim under the Pradhan Mantri Bima Suraksha Yojana?

Any accident or related death must first be reported to the police and the bank must be informed about the same. In case of the death of the policyholder, the beneficiary or the legal heir can file for a claim. In case of permanent disability, here is the procedure you need to follow to claim the benefits of the PM Bima Suraksha Yojana:

  • The bank must be immediately notified about the policyholder’s accident or death.
  • The form for processing the claim must be obtained from the designated insurance company, bank, or website.
  • The form must be duly filled and submitted to the bank within 30 days of the accident.
  • Original FIR, death certificate, post-mortem report, or, in the case of disability, a disability certificate issued by the civil surgeon must be enclosed with the application form. A discharge certificate should also be attached.
  • The bank will verify all details and forward the same to the insurance company within 30 days of filing the claim.
  • Insurance companies will process the claim within 30 days of receiving all documents from the bank.
  • The admissible claim amount is remitted to the insured’s or nominee’s bank account.
  • If no nominee has been appointed by the insured, the legal heir will receive the death claim on producing the succession certificate.


The Pradhan Mantri Suraksha Bima Yojana was launched as a part of three social security schemes during the 2015 Budget session by former Finance Minister Arun Jaitely. These schemes were launched to ensure the social and financial security of people working in the unorganised sector in India.

The scheme is a great way to ensure that those working in the unorganised sector and low-income groups can financially protect themselves and their families in case of an unforeseen mishap.


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