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How to Apply for PMSBY (₹2 Lakh Accident Insurance at ₹20/year)

Get ₹2 lakh accident insurance for just ₹20/year via PMSBY. Aged 18-70 eligible.

📁 Insurance ⏱️ 5-10 mins 💰 ₹20 per year
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About This Guide

Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a government accident insurance scheme launched in 2015. Provides ₹2 lakh cover for accidental death, ₹2 lakh for permanent total disability, ₹1 lakh for permanent partial disability. Premium just ₹20 per year - lowest insurance premium in India. Available for ages 18-70. Auto-debit from savings bank account. Over 35 crore subscribers - one of largest insurance programs globally. Combined with PMJJBY (₹436/year for ₹2L life cover), get ₹4L total cover for ₹456/year - excellent for low/middle income families.

Eligibility Criteria

Documents Required

Keep these documents ready before starting application. Missing documents = delayed approval.

Step-by-Step Application Process

Follow these steps in order. Each step is critical - skip none.

Approach Your Bank
Visit branch of your savings account bank. PMSBY available at all banks and post offices. Online enrollment via mobile app available too.
Request PMSBY Form
Ask for PMSBY Consent-cum-Declaration Form. Single page form with personal details, nominee, auto-debit consent.
Fill Personal Details
Name as per Aadhaar, DOB, gender, address, mobile, Aadhaar, bank account number. Verify all details carefully.
Add Nominee
Nominee mandatory - spouse/parent/child/sibling. Provide name, age, relationship, address. Multiple nominees with shares allowed.
Sign Auto-Debit Mandate
Authorize bank to deduct ₹20 annually on May 25-31 from savings account. One-time consent for life of policy.
Submit Form
Submit at branch. Get acknowledgment. Cover starts from June 1 next month and continues till May 31 next year (and renews automatically each year).
Keep Documentation
Save acknowledgment receipt, take photo. Keep details accessible to nominee in case of accident. Bank also has record on file.
Annual Auto-Renewal
Each year, ₹20 auto-debited on May 25-31. As long as auto-debit succeeds and you're below 70, cover continues. Bank sends SMS confirmation.
Claim Submission Process
In case of accident: Nominee submits claim within 30 days with FIR (police report), Death certificate, Post mortem report (if death), Disability certificate (if disability), Hospital records, Aadhaar of subscriber and nominee.

Key Benefits

What Happens After Application?

Maintain bank balance for annual auto-debit. Inform nominee of policy and claim process. In case of any accident leading to death/disability, nominee should submit claim within 30 days with FIR, death/disability certificate, hospital records, and Aadhaar. Settlement in 30 days. Cover ends at age 70. Update nominee/address as needed. Always combine with PMJJBY for comprehensive cover.

Frequently Asked Questions

Does PMSBY cover natural death?
No, PMSBY is ACCIDENT insurance only. Natural death from illness/old age NOT covered. For natural death cover, take PMJJBY (₹436/year for ₹2L). Take both together.
What accidents are covered?
Road accidents, falls, drowning, fire, electrocution, work accidents, etc. Excluded: suicide, war, terrorism, criminal activities, alcohol/drug-induced. Police FIR mandatory for claim.
Disability claim process?
Submit disability certificate from civil surgeon/government hospital, claim form within 30 days. Insurance investigates - takes 30-90 days. ₹2L for total (both eyes/limbs), ₹1L for partial (one eye/limb).
PMSBY claim rejected reasons?
Common rejections: Suicide (excluded), no FIR filed within 24 hrs, alcohol/drugs in body, claim filed after 30 days, fraudulent claim, accident before policy start date.
Can I have PMSBY if already have accident cover from employer?
Yes, multiple accident covers allowed. PMSBY is independent. In case of accident, all covers payable. Total claim limited to actual loss/sum insured of each policy.

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