pradhan mantri suraksha bima yojana
pradhan mantri suraksha bima yojana

The government of India launches Prime Minister Accidental Insurance Scheme or Pradhan Mantri Suraksha Bima Yojana. The term Suraksha means safety. This scheme will focus on the safety of the individuals. This is an accident insurance scheme in India.

Any Indians between 18 and 70 years of age with bank accounts can take the Pradhan Mantri Suraksha Bima Yojana scheme.

One will get this scheme with just 12 Rs. 12 Rs will be automatically be debited from the registered account every year until they cancel the plan. Prime Minister Accidental Insurance Scheme will cover one year tenure from 1 June to 31 May.

If you have opened a bank account for the Pradhan Mantri Jan Dhan Yojana Scheme with zero balance, this bank account can be linked to your current plan.

Prime Minister Accidental Insurance Scheme

Who Introduced Pradhan Mantri Suraksha Bima Yojana ?

In February 2015 Budget speech, Finance Minister Late Arun Jaitley has proposed the Pradhan Mantri Suraksha Bima Yojana scheme. Later, Prime Minister Narendra Modi launched this scheme on 8 May in Kolkata.

Mission and Vision of Prime Minister Accidental Insurance Scheme

The Pradhan Mantri Suraksha Bima Yojana scheme was launched to get insurance at the time of accidents. Money should be credited at the right time whenever there is a need.

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Why was Prime Minister Accidental Insurance Scheme Introduced ?

Most of the deaths in India happens because of accidents. The patients don’t get money at a tight time. So to send the money to those who meet with accidents can avail of this scheme.

Using this scheme, a common man can avail of the insurance scheme at a meager premium price.

Also Read: What is Pradhan Mantri Jan Dhan Scheme?

Rules and Regulations of Pradhan Mantri Suraksha Bima Yojana:

To be eligible for the Prime Minister Accidental Insurance Scheme, the following things should be fulfilled:

  1. One should be between 18 and 70 years of age.
  2. Those who want this scheme should have a bank account.

The policyholder will get:

₹2 lakh: In case of accidental death or full disability.

₹1 lakh: In case of partial permanent disability  

  1. A person will be considered as Full disability if he/she has lost both eyes, hands, or feet. 
  2. A person will be regarded as a Partial Permanent disability if he/she has a loss of use in one eye, hand, or foot.

Note: Death caused due to alcohol, suicide, drug abuse, etc. is not covered.


One can take this scheme from anywhere in India. You can go to any nearby bank and can avail yourself of the Pradhan Mantri Suraksha Bima Yojana scheme.

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Eligibility Criteria for the Pradhan Mantri Suraksha Bima Yojana 

To be eligible for the Prime Minister Accidental Insurance Schemeone needs to be a minimum of 18 years and a maximum of 70 years.

How to Apply the Pradhan Mantri Suraksha Bima Yojana?

To apply for the Prime Minister Accidental Insurance Scheme either online or offline.

To apply it online: 

One can go to any of the bank sites they like and go to the scheme section, look for this scheme, and apply it online.

To apply it offline:

One can go to any bank they like. Ask the bank manager about this scheme, and they will guide you.

One can either pay 12 Rs a year or pay one rupee per month to get this insurance. 

The policyholder will get the policy certificate on his/her registered email id and a confirmation SMS within 24 hours of the transaction. The policy coverage will start after three days of the transaction.

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Application Fee of the Pradhan Mantri Suraksha Bima Yojana

You will get the insurance in just 12 Rs. The GST is exempted.

Official Notification link

You can get this policy on any bank site. Go to the official website of any bank and check it there.

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Advantages and Disadvantages of the Pradhan Mantri Suraksha Bima Yojana

Pro and Cons of the Prime Minister Accidental Insurance Scheme


A lot of lives have been saved because of Prime Minister Suraksha Bima Yojana. More and More people are now taking advantage of this scheme.

Because of this insurance, the ordinary people don’t have to pay money from their pockets.

If you have more than one bank account, you can benefit from connecting any one bank account to this scheme.

The policyholder who leaves this scheme can re-join the program in the future. 


  1. If your bank account is closed due to any reason, in such a situation, your security policy will also be closed.
  2. If you do not have an amount in your account and cannot deposit the premium on time, your renewal will be canceled.
  3. This scheme will pay no hospital expenses for any accident person.
  4. You will be able to get this scheme only if your Aadhar card is linked with your bank account.

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How can the nominee claim the insurance if in case of the death of the scheme holder ?

  1. If the policyholder dies in any road accident, then the nominee will get the money.
  2. In case the nominee name is not mentioned in the form and the policyholder dies in an accident, then their family members can claim the money.
  3. If the policyholder account becomes disabled in an accident, the policyholder has to complete the process of making a claim themselves, only then the victim will get the request.
  4. To get the money, the nominee has to inform the police if any policyholder gets injured or dies in any road or rail accident.
  5. If any policyholder dies due to the poisonous animal, then in that case, the hospital record letter will be valid for taking the claim.

Impact on people

As of 31 March 2019, 15.47 crore people have already joined this scheme. 32,176 claims have been paid. ₹6.4352 billion has been paid.

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Do I have to have a bank account to get this policy?

Yes, You need to have a bank account to get this policy. You can create a bank account if you don’t have a bank account while creating this policy.

I have not linked my Aadhar card to my bank account, will my policy work?

As per the Government Rules, for the Pradhan Mantri Suraksha Bima Yojana Aadhar card is important. Link your Aadhar card if you want to get the policy.

I have so many bank accounts. Which bank account should I choose to get my policy?

The government has defined few banks where you can get the Pradhan Mantri Suraksha Bima Yojana. Check if your bank can provide this scheme. One more thing that you have to look upon is if your bank is linked with Aadhar card or it. 

I don’t want to continue now, but I am planning to take this same policy later. Can I do that?

Yes, You can always discontinue your policy and can renew your plan whenever you want.

I see Many private banks are selling this policy. Is this a government policy or a private policy?

This is entirely a government policy. You can take this policy from the banks that are authorized by the government to sell this policy. Before buying this policy, check if the bank is approved or not.

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Accidents are unpredictable. Accidents can happen to anyone at any moment. With just 12 Rs when you will get the Prime Minister Accidental Insurance Scheme, then what are you waiting for? Go. Go and Apply Now for the Pradhan Mantri Suraksha Bima Yojana.

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