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Pradhan Mantri Suraksha Bima Yojana (PMSBY): ₹2 Lakh Accident Cover at ₹20 a Year

PMSBY is a government accident insurance scheme that costs just ₹20 a year. If you have a bank account and you're between 18 and 70, you can join. If something happens — an accident that causes death or total disability — your family gets ₹2 lakh. A partial disability, like losing one eye or one hand, gets ₹1 lakh.
Accident Insurance Bank Account Holders ₹2 Lakh Cover ₹20/Year Premium Age 18–70 Years
Download Enrolment Form View on myScheme.gov.in
₹20
Premium/Year
₹2 Lakh
Death/Disability Cover
18–70 Yrs
Age Eligibility
1 Year
Cover Duration
Written by · Last Updated: 21 June 2026 · Source: Dept. of Financial Services · myScheme.gov.in

What is Pradhan Mantri Suraksha Bima Yojana?

Pradhan Mantri Suraksha Bima Yojana, or PMSBY, is a personal accident insurance scheme run by the central government. It started on 9 May 2015, the same day as two other schemes — PMJJBY and the Atal Pension Yojana — when the government decided every bank account holder in the country should have access to cheap insurance and a pension, not just people who could afford private cover.

The Ministry of Finance's Department of Financial Services runs the show, but the actual insurance comes through public sector general insurance companies and a few private insurers tied up with banks. You don't need to go anywhere special to join — your own bank or post office can enrol you, as long as you agree to let them auto-debit ₹20 every year.

One thing people often get confused about: PMSBY only covers accidents. If someone dies from an illness, a heart attack, or any natural cause, this scheme won't pay out. That's actually what PMJJBY (the life insurance one) is for. PMSBY's job is accidental death and disability — nothing else.

What counts as an accident here: something sudden, unexpected, and caused by an outside force — a road accident, a fall, a fire, and so on. Death or disability from disease doesn't count, no matter how sudden it feels.

PMSBY Premium and Coverage Period

₹20 a year — that's the entire premium. It comes out of your account automatically, usually sometime between 25th May and 1st June, though the official cut-off date is 1st June.

The cover itself runs on a yearly cycle, from 1st June to 31st May. As long as the premium keeps getting deducted and your account stays open, it just renews on its own — you don't have to do anything. If you sign up partway through the year, your first cover period is shorter, running till that 31st May, and then it falls into the regular yearly rhythm after that.

When does the cover stop?

  • When the member turns 70 years (age nearer birthday)
  • If the linked bank or post office account is closed
  • If there isn't enough balance in the account to deduct the premium on the due date
Joined through more than one account? You're only allowed coverage through a single bank account. If the ₹20 somehow gets deducted from two accounts, you'll still only get the ₹2 lakh payout, not double, and the bank refunds the extra premium you paid.

Pradhan Mantri Suraksha Bima Yojana Benefits

Accidental Death
Nominee gets ₹2 lakh if the insured person dies in an accident
Total Disability
₹2 lakh for loss of both eyes, both hands, both feet, or one eye plus one hand/foot
Partial Disability
₹1 lakh for loss of sight in one eye, or use of one hand or foot

Payout Summary

What Happened Amount Paid
Death due to accident ₹2,00,000 to nominee
Loss of both eyes, both hands, or both feet ₹2,00,000 to subscriber
Loss of one eye and one hand or foot ₹2,00,000 to subscriber
Loss of sight in one eye, or use of one hand or foot ₹1,00,000 to subscriber

Pradhan Mantri Suraksha Bima Yojana Eligibility

Age
18 years (completed) to 70 years (age nearer birthday)
Bank/Post Office Account
An active savings account at a participating bank or post office
Consent
Written consent for ₹20 yearly premium to be auto-debited from the account
One Account Only
If you hold multiple accounts, you can join the scheme through just one of them

No income cap, no medical test, nothing complicated. If you've got a bank account and you're in the right age bracket, you're in — it doesn't matter what you do for a living or how much you earn.

Pradhan Mantri Suraksha Bima Yojana Apply Online

Offline — Through Your Bank

1

Get the Enrolment Form

Visit the bank branch where you hold your savings account, or download the form from jansuraksha.gov.in.

2

Fill in Your Details

Add your name, date of birth, Aadhaar number, nominee details, and bank account number. Sign the auto-debit consent section.

3

Submit at the Bank

Hand over the filled form to your bank branch. If your account isn't linked to Aadhaar yet, attach a copy of your Aadhaar card with the form.

4

Get Your Certificate

Once it's processed, you'll get an Acknowledgement Slip cum Certificate of Insurance — basically your proof that you're covered.

Online — Through Net Banking

Honestly, the easier route for most people is net banking or the bank's mobile app — look under the insurance or social security schemes section. You give consent for the ₹20 debit right there, and the cover usually kicks in within minutes.

Helpline numbers: National Toll-Free — 1800-180-1111 / 1800-110-001. State-wise toll-free numbers are also available on the official Jan Suraksha portal.

How to File a PMSBY Claim

If you ever need to file a claim, it goes through the same bank branch where the policy was taken, not the insurance company directly. Try to do this within 30 days of the accident — the bank takes it from there and forwards everything to the insurer.

Pradhan Mantri Suraksha Bima Yojana Documents Required

  • 1Duly filled Claim-cum-Discharge form
  • 2Original death certificate, for an accidental death claim
  • 3FIR or police report, where the accident involved police investigation
  • 4Post-mortem report, where applicable
  • 5Disability certificate from a government hospital or civil surgeon, for disability claims
  • 6Bank passbook copy of the nominee or subscriber
Missed the 30-day window? It's not necessarily over — delayed claims do get considered case by case. But filing on time saves a lot of back-and-forth with the insurer.

Frequently Asked Questions

What is Pradhan Mantri Suraksha Bima Yojana?
It's a government accident insurance scheme. ₹20 a year gets you ₹2 lakh cover if you die or become totally disabled in an accident, and ₹1 lakh for a partial disability.
Who can apply for PMSBY?
Anyone between 18 and 70 who has a savings account in a bank or post office, and is okay with the ₹20 yearly premium being auto-debited.
How much premium does PMSBY charge?
Just ₹20 a year, taken automatically from your account on or before 1st June.
What does PMSBY cover?
Accidental death and disability — full payout of ₹2 lakh, or ₹1 lakh for partial disability. It won't cover death from illness or any natural cause.
How do I apply for PMSBY?
Walk into your bank with a filled enrolment form, or download one from jansuraksha.gov.in. Net banking and mobile banking enrolment is also available with most banks.
How do I file a PMSBY claim?
Take the claim form to your bank branch within 30 days of the accident, along with the death or disability certificate, an FIR if there was one, and your passbook copy.
What happens if I have PMSBY in two bank accounts?
You're only covered through one account at a time. If premium is deducted from more than one account by mistake, the claim is still capped at ₹2 lakh, and the extra premium gets refunded.
When does PMSBY cover stop?
Once you turn 70, if you close the linked account, or if there isn't enough balance to deduct the premium when it's due.
Is PMSBY the same as PMJJBY?
No. PMSBY only covers accidents, for ₹20 a year. PMJJBY covers death from any cause, costs ₹436 a year, and pays the same ₹2 lakh.
When was PMSBY launched?
9 May 2015, alongside PMJJBY and the Atal Pension Yojana, as part of the Jan Suraksha social security push.

Want ₹2 lakh accident cover for ₹20 a year?

Visit your bank branch or use net banking to enrol in PMSBY today.

Download Enrolment Form View on myScheme.gov.in

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Information here comes from jansuraksha.gov.in, financialservices.gov.in, and myscheme.gov.in. Premiums and rules can change, so it's worth checking with your bank or the official site before you enrol. JanLaabh.in isn't part of the Government of India or any insurance company — we just explain things in plain language.