What is the Pradhan Mantri Suraksha Bima Yojana?

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Pradhan Mantri Suraksha Bima Yojana is a personal accident insurance plan for individuals aged between 18 and 70. Its affordable premium, annual renewal, and seamless enrolment process have made it widely popular across India.


According to the Ministry of Finance, as of 23rd April 2025, the total number of enrolments under PMSBY has crossed 51.06 crore. Here’s a closer look at the scheme and how it works.


What is PMSBY or Pradhan Mantri Suraksha Bima Yojana?


PMSBY or Pradhan Mantri Suraksha Bima Yojana is an accident insurance scheme launched by the Indian government in May 2015. It is a one-year insurance scheme that offers coverage for accidental disability or death.


Anyone in the age bracket of 18 to 70 years can avail of this scheme by paying only ₹20 as a premium per annum. But they must have a savings account with a participating bank or post office.


What are the Key Features of PMSBY?


1. Accidental Coverage


The nominee receives ₹2 lakh in case the insured person passes away due to an accident. If the person faces total and irrecoverable loss of both eyes, hands or feet or loss of one eye and one hand or foot, the subscriber also receives ₹2 lakh.


It is because it involves multiple disabilities or has a major impact on the body. If only one part of the body is affected (loss of sight in one eye, one hand or one foot), the subscriber is payable ₹1 lakh.


2. Affordable Premium


Since the Indian government has launched this initiative to offer affordable personal accident insurance, the premium is very low. You need to pay only ₹20 per annum as a premium.


3. Auto-debit Facility


The bank will automatically deduct the premium every year from your savings account. It ensures continuity, eliminating the hassle of manual renewal or missed payments.


4. Easy Enrolment and Claim Process


This government insurance initiative requires minimal paperwork for enrolment. Also, the claim procedure is user-friendly. It requires basic documentation, which makes the process swift and hassle-free.


5. Comprehensive Accident Coverage


Not only road accidents, but this policy also covers other types of mishaps. They include: falls from a high building, drowning, injuries due to fire-related accidents, or other accidents that could lead to death or disability.


Note that this is not applicable if the insured person dies naturally, passes away due to illness or dies due to other causes than accident.


What Documents Do You Require to Apply for PMSBY?


Here is the list of key documents:



  1. Valid identity proof

  2. Aadhaar Card

  3. Savings bank account details

  4. Nominee details

  5. PMSBY application form with all the necessary details


Also, submit your contact details. They include your current address and phone number. These are crucial to convey updates related to this accident insurance scheme.


Final Words


PMSBY offers a simple yet powerful way to stay financially protected against accidents. With minimal cost and easy access, subscribers ensure peace of mind, and their families stay prepared for life’s unexpected events without financial strain.