PMSBY Scheme: Insurance of Rs 2 lakh will be available at a cost of only Rs 1 per month, find out how to register
Pradhan Mantri Suraksha Bima Yojana: Insurance is an essential thing for everyone today. It is not just an investment, but a guarantee of social security. In upper and middle class families, people often get insurance, but it is very difficult for poor families to pay the insurance premium. But what if you are told that you have to pay only 1 rupee per month? Even the poorest members of poor families can do a lot. Pradhan Mantri Suraksha Vima Yojana (PMSBY) is one such scheme.
In fact, the government came up with the scheme keeping in view the social security of poor families. Under Pradhan Mantri Suraksha Vima Yojana (PMSBY) Rs. Accident cover up to Rs 2 lakh is available at a nominal premium of Rs 12 per annum. Its specialty is that this premium has to be paid only once in a year and it is also Rs. 12 per annum as per Rs. You don't even have to make a separate effort for this. It is automatically deducted from your bank account.
How to register?
It is very easy to get registered in this government scheme. You can apply for this by going to your nearest bank. Not only that, you can also take the help of a bank friend or you can also contact an insurance agent if you wish. Government and private insurance companies provide this service in collaboration with banks.
Cover up to Rs 2 lakh at a cost of Rs 1 per month
The annual premium of PMSBY is only 12 rupees i.e. only 1 rupees per month. Before May 31 of each year, the amount of premium will be automatically deducted from your bank account and you will get cover for the period from June 1 to May 31. Under this scheme, if the insured dies in an accident or becomes completely disabled, he gets accident insurance of Rs. 2 lakhs. On the other hand, in case of permanent partial disability, a cover of Rs 1 lakh is available.
The cover will expire at the age of 70. You need to have a bank account to avail this scheme. In addition, the account must have a balance on May 31, i.e. during the deduction of premium. If the bank account is closed, the policy will be canceled.