The Pradhan Mantri Suraksha Bima Yojana is one of the most affordable and impactful insurance schemes launched by the Modi government. With an annual premium of just ₹20, it provides accident insurance coverage to millions of Indians. Introduced as part of the Jan Suraksha initiative, this scheme has become a strong pillar in India’s financial inclusion journey.
Designed for the common citizen, the scheme offers protection in case of accidental death or disability, making it a true example of a government plan that touches lives.
Affordable Protection for All
The Pradhan Mantri Suraksha Bima Yojana is open to anyone aged between 18 and 70 years. To enroll, the person needs a savings bank or post office account. Once enrolled, the premium is auto-debited every year from the account, ensuring easy renewal and continued coverage without any hassle.
This scheme is meant to help those who may not be able to afford traditional insurance policies. With ₹20 per year, people get financial protection that can make a real difference during difficult times.
Coverage and Benefits
Under this scheme, if the insured person dies due to an accident or suffers a total and irrecoverable loss of both eyes, hands, or feet, the nominee receives ₹2 lakh. In case of partial disability like the loss of one eye or one hand or foot, the benefit is ₹1 lakh.
The coverage is valid from June 1 to May 31 each year and is renewable annually. It provides peace of mind to the subscriber and their family, knowing that some financial help is available in case of a mishap.
Who Can Apply?
The eligibility criteria for Pradhan Mantri Suraksha Bima Yojana are simple. The person must be between 18 and 70 years of age and should hold a savings account in a bank or post office. A one-time consent for the auto-debit of the premium is required during enrollment.
A person can only enroll once, even if they have multiple accounts. Linking Aadhaar to the account is not mandatory but may be required at the time of verification or claim.
Easy Enrollment and Renewal
People can enroll through their bank branches, business correspondents (BCs), or online banking platforms. Once enrolled, the premium is deducted automatically every year unless the person opts out before the renewal period.
This automatic process ensures that people remain covered without the need to reapply every year. It also minimizes the risk of a lapse in the policy.
Claim Process
In the unfortunate event of an accident, the nominee or the insured can file a claim by submitting a claim form to the bank or insurance company. Required documents such as identity proof and hospital records must be attached for verification.
Once the verification is complete, the claim is processed and paid out. The claim process has been designed to be straightforward, so that affected families receive the support they need without delays.
A Scheme That Has Made a Difference
As per recent government data, the Pradhan Mantri Suraksha Bima Yojana has already helped over 1.15 lakh families. The total claims paid have crossed ₹2,302 crore. This highlights the scale and impact of the scheme, especially for low-income families who need financial aid during tough times.
The scheme may not cover every situation. Suicide, non-permanent disabilities, or hospital expenses are excluded. But for accidental death and disability, it offers strong financial support.
A Step Towards Inclusive Security
The Pradhan Mantri Suraksha Bima Yojana is a clear example of a low-cost, high-impact government scheme. It fits perfectly into the vision of making insurance accessible to all, especially the underprivileged and rural population.
In a country where millions remain uninsured, this ₹20 insurance plan is giving people security, dignity, and hope. It proves that a small contribution can go a long way in building a safety net for families in need.
As awareness grows, more people are expected to benefit from this plan, turning the idea of inclusive insurance into a national reality.