Pradhan Mantri Suraksha Bima Yojana Onine Form – Certificate Download

By | April 29, 2019
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Accident insurance scheme offering accidental death and disability cover for death or disability on account on an accident. PMSBY will be a one year cover, renewable from year to year. The Pradhan Mantri Suraksha Bima Yojana would be offered through Public Sector General Insurance Companies and other General Insurance companies willing to offer the product on similar terms. Participating banks will be free to engage any such insurance company for implementing the scheme for their subscribers.

PRADHAN MANTRI SURAKSHA BIMA YOJANA

Pradhan Mantri Suraksha Bima Yojana Form Apply Online

Scope of coverage:

  • An individual holding multiple bank accounts.
  • All savings bank account holders in the age 18 to 70 years.
  • Aadhar would be the primary KYC for the bank account.

 

Pradhan Mantri Suraksha Bima Yojana Age Limit, Claim Form{Eligibility Criteria}

The savings bank account holders of the participating banks aged between 18 years and 70 years. One who give their approval to join/enable auto-debit.

Master Policy Holder: Participating Bank will be the Master policyholder on behalf of the participating subscribers. Insurance company will fianalize a simple and subscriber-friendly administration & claim settlement process.

Termination of cover:

The Pradhan Mantri Suraksha Bima Yojana SBI terminate on any of the following events and no benefit will be payable thereunder:

  • On attaining age 70 years.
  • Insufficiency of balance to keep the insurance in force.
  • If many bank has covered a member under same scheme case.
  • If bank has ceased the insurance cover to any technical reasons such as the insufficient balance.
  • Participating banks will deduct the premium amount in the same month when the auto debit option is given.

Administration of Pradhan Mantri Suraksha Bima Yojana SBI:

The Pradhan Mantri Suraksha Bima Yojana SBI will be conducted as per the standard method provided by the Insurance Company. The data flow process will be provided separately. It will be the responsibility of the participating bank to recover the appropriate annual premium.

In case of a claim, the Insurance Company may seek submission of the same. Insurance Company reserves the right to call for these documents at any point in time. The recognition slip may be made into a recognition slip-cum-certificate of insurance. The experience of the scheme will be monitored on a yearly basis.

Appropriation of Premium:

  • Insurance Premium to Insurance Company: Rs.10/- per annum per member
  • Payment of Expenses to BC/Micro/Corporate/Agent : Rs.1/- per annum per member
  • Settlement of Administrative expenses to participating Bank: Rs.1/- per annum per member

 

Pradhan Mantri Suraksha Bima Yojana Enrollment Process / Period:

Pradhan Mantri Suraksha Bima Yojana last date online apply:

  • The cover shall be for the one year period stretching from 1st June to 31st May.
  •  Initially on launch, the period for joining may be extended by Govt. of India for another three months.
  • Joining subsequently on payment of full annual premium may be possible on specified terms.
  • Individuals who exit the scheme at any point may re-join the scheme in future years through the above modality.
  • New entrants into the eligible category from year to year or currently eligible individuals who did not
    join earlier shall be able to join in future years while the scheme is continuing.
Benefits:

Benefits Sum Insured

  • Death Rs. 2 Lakh
  • Total and irrecoverable loss of sight of one eye or loss of use of one hand or foot Rs. 1 Lakh
  • Total and irrecoverable loss of
  1. Both eyes or hands or feet
  2. Loss of sight of one eye and loss of use of hand or foot

Rs. 2 Lakh

 

Premium: Rs.12/- per annum per member. The bank will subtract the premium amount from the account holder’s savings bank account through ‘auto debit’ facility. However, in cases where auto debit takes place after 1st June, the cover shall start from the first day of the month following the auto debit. The bank will review the premium on the basis of Annual claims experience. However, excluding unexpected outcomes of extreme nature. Efforts would be made to ensure that there is no upward revision of premium in the first three years.

 

To know more or get Pradhan Mantri Suraksha Bima Yojana certificate download in Hindi PDF, click HERE.

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