PRADHAN MANTRI SURAKSHA BHIMA YOJANA (PMSBY) –
Accidental Death Insurance.
This scheme is implemented by the
Department of Agril. Marketing to the Market
functionaries of Agril. Market Committees in the
state.
Salient
features of the Scheme are as under:-
Eligibility:-
All savings bank account holders in the age group of 18 years (completed) to 70
years (age nearer birthday) with Aadhaar number
linked to that account can give a simple consent form to the bank every year
before 1st of June in order to join the scheme. In case of multiple
saving bank accounts held by an individual in one or different banks, the
persons would be eligible to join the
scheme through any one savings bank account only. Name of the nominee to be
given in the form.
Premium:-
Rs. 12/- per annum (Plus service tax as
applicable).
Payment:- The Premium will directly be auto-debited by
the bank from the subscribers account.
This is the only mode available.
Risk
Coverage:- a) For accidental death and total disablement
- Rs. 2.00 Lakhs
: Total irrecoverable loss of both eyes or loss of use of both hands or feet or
loss of sight of one eye and loss of use of hand or foot.
b)
For partial disablement – Rs. 1.00 Lakhs : Total and
irrecoverable loss of sight of one eye or loss of use of one hand or foot
Term
of Risk:- A person has to opt for the scheme
every year. He can also prefer to give a long term option of continuing in
which case his account will be auto debited every year by the bank.
The Customers
can link their existing Savings Bank Account with AADHAR before opting PMSBY
scheme. New customers are also eligible to join the scheme by seeding their
AADHAR number to Savings Bank account. However KYC/Due Diligence have to be
followed.