How to Apply for Pradhan Mantri Suraksha Bima Yojana (PMSBY)?

Launched in May 2015, the Pradhan Mantri Suraksha Bima Yojana (PMSBY) has become a vital pillar in India’s mission to extend social security to all citizens, especially targeting economically vulnerable groups in rural and unorganised sectors. This affordable accident insurance scheme provides coverage of ₹2 lakh in cases of death or total disability, and ₹1 lakh (approximately US$ 1,168) for partial disability. The premium is incredibly nominal—just ₹20 (around US$ 0.23) per year.

Since its inception, PMSBY has seen overwhelming participation with over 44 crore enrollments. It has facilitated more than 1.35 lakh claim settlements, disbursing Rs. 2,700 crore (about US$ 315 million) in FY25 alone. The scheme’s success is largely due to its seamless integration with the formal financial system, leveraging Jan Dhan accounts and auto-debit facilities for easy premium collection and enrollment.

How to Apply for Pradhan Mantri Suraksha Bima Yojana (PMSBY)?

Step 1: Visit your bank branch where you hold a savings account, or alternatively, download the application form from the official website: PMSBY Application Form.

Step 2: Fill out the application form with the required details and submit it along with the necessary documents to your bank.

Step 3: Upon successful submission, you will receive an Acknowledgement Slip cum Certificate of Insurance as proof of your enrollment.

Conclusion

The Pradhan Mantri Suraksha Bima Yojana stands out as an effective and affordable safety net for millions of vulnerable Indians, offering critical financial protection against unforeseen accidents.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.