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Pradhan Mantri Suraksha Bima Yojana 2026; Check All Details

The Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a low-cost accidental insurance scheme launched by the Government of India in 2015, aimed at providing financial security to the general public particularly those belonging to economically weaker sections. Under this scheme, individuals receive insurance coverage against accidental death and physical disability in exchange for a highly nominal annual premium. This premium amount is automatically deducted from the subscriber's bank account, making the entire process extremely simple and hassle free. The primary objective of PMSBY is to ensure that, in the event of an unforeseen accident, the affected family is not deprived of at least a minimum level of financial assistance.


Pradhan Mantri Suraksha Bima Yojana

Pradhan Mantri Suraksha Bima Yojana 2026 Overview 

  • Scheme Name: Pradhan Mantri Suraksha Bima Yojana (PMSBY)
  • Launched by the Government of India in 2015
  • Provides accident insurance coverage
  • Eligible age: 18 to 70 years
  • Coverage: Rs.2 lakh (death/full disability), Rs.1 lakh (partial disability)
  • Premium auto-debited from bank account
  • Policy period: 1 June to 31 May (renewable every year)

PM Suraksha Bima Yojana 2026 Eligibility

Any Indian citizen aged between 18 and 70 years can apply for PMSBY. The person must have a savings bank account and should give consent for auto-debit of the premium. Only one policy per person is allowed, even if the person has multiple bank accounts.

PMSBY Yojana 2026 Benefits

  • Rs.2 lakh compensation in case of accidental death
  • Rs.2 lakh for total permanent disability (loss of both eyes/limbs)
  • Rs.1 lakh for partial permanent disability (loss of one eye/limb)
  • Very low premium of Rs.20 per year
  • No medical examination required
  • Easy claim process through bank/insurance provider
  • Financial security for family during unexpected accidents

Pradhan Mantri Suraksha Bima Yojana 2026 Application Process

To apply for PMSBY, individuals may visit their respective bank branches in person or register through internet banking or mobile banking services. To do so, they are required to fill out a simple consent form and authorize the auto-debit of the premium amount from their bank account. Many banks also offer registration facilities via SMS or online portals.

PMSBY Yojana 2026 - Frequently Asked Questions (FAQ)

Q1. What is the premium amount?

Answer: Rs.20 per year

Q2. What is the coverage amount?

Answer: Rs.2 lakh (death/full disability), Rs.1 lakh (partial disability)

Q3. Is medical check-up required?

Answer: No, no medical test is needed

Q4. Can I have multiple PMSBY policies?

Answer: No, only one policy per person is allowed

Q5. When does the coverage period start?

Answer: From 1st June to 31st May every year

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