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PM Bima Yojana: ‹20 for ‹2 Lakh Insurance, No Medical Test or Agent Needed.
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News18•26-09-2026, 13:22
PM Bima Yojana: ‹20 for ‹2 Lakh Insurance, No Medical Test or Agent Needed.
- •Pradhan Mantri Suraksha Bima Yojana (PMSBY) offers ‹2 lakh accidental insurance cover for an annual premium of just ‹20.
- •No medical examination or agent is required to avail this insurance; applications can be made directly through banks or post offices.
- •Indian citizens or NRIs aged 18-70 with a savings account can benefit from the scheme.
- •The scheme covers death due to road accidents, natural disasters (floods, earthquakes), and criminal incidents like murder, providing a ‹2 lakh claim.
- •Claim amount is directly transferred to the nominee's or legal heir's bank account; it is purely personal accident insurance, not covering medical expenses.
Key Questions Answered
The annual premium for the Pradhan Mantri Suraksha Bima Yojana is just ₹20, which provides an accidental insurance cover of up to ₹2 lakh.
Any Indian citizen or NRI aged between 18 and 70 years who has a single or joint savings account in any bank or post office in the country can avail the benefits of this scheme.
The scheme covers accidental deaths from road, rail, or vehicle accidents, natural disasters like floods and earthquakes, and even criminal incidents such as murder, provided the nominee submits the required police documentation.
