Reg. No: SA 1523 Dated : 07 July 1963
License No: ACD/GJ 212 P, Dated : 24 July 1980

Jan Surksaha(PMSBY)

PMSBY

PRADHAN MANTRI SURAKSHA BIMA YOJANA [PMSBY]

  • Eligibility: Available to people in age group 18 to 70 years with bank account.
  • Premium: Rs 12 per annum.
  • Payment Mode: The premium will be directly auto-debited by the bank from the subscribers account. This is the only mode available.
  • Risk Coverage: For accidental death and full disability – Rs 2 Lakh and for partial disability – Rs 1 Lakh.
  • Eligibility: Any person having a bank account and Aadhaar number linked to the bank account can give a simple form to the bank every year before 1st of June in order to join the scheme. Name of nominee to be given in the form.
  • he premium paid will be tax-free under section 80C and also the proceeds amount will get tax-exemption u/s 10(10D).But if the proceeds from insurance policy exceed Rs.1 lakh , TDS at the rate of 2% from the total proceeds if no Form 15G or Form 15H is submitted to the insurer.