The PMSBY Scheme (Pradhan Mantri Suraksha Bima Yojana) is one of the cheapest insurance covers available to any Indian with a savings bank account. For just ₹20 a year, it gives your family ₹2 lakh if you die in an accident, and up to ₹2 lakh if an accident leaves you disabled. In this 2026 guide we explain who can join, how to apply in five easy steps, how the auto-debit works, and how your nominee can file a claim without running around.
Many families in Kerala already have a bank account but have never switched on this cover. A daily-wage worker, a fisherman, a driver, a nurse working abroad, a student who travels daily by bus, or a homemaker can all benefit. Read the full guide, keep a copy of your enrolment slip, and share the details with your nominee today.
What Is the PMSBY Scheme?
The PMSBY Scheme is a Government of India accident insurance plan launched in 2015 under the Jan Suraksha programme of the Ministry of Finance. It is a one-year cover that renews every year from 1 June to 31 May. The premium is taken directly from your savings bank account through auto-debit, so you do not have to visit an insurance office or remember a due date every year.
The cover is run by public sector general insurance companies and other insurers that have tied up with banks. Your bank acts as the master policyholder. That is why you join the PMSBY Scheme through your own bank or post office account, and not through an insurance agent. There is no medical test, no long proposal form and no broker commission.
The plan was created to bring basic insurance to people who usually stay outside the insurance net. Because the premium is so small, even a family living on daily wages can afford it. The annual premium was revised from ₹12 to ₹20 in 2022, and it remains ₹20 today, which works out to less than six paise a day.
PMSBY Scheme 2026: Key Highlights
| Feature | Details |
|---|---|
| Full name | Pradhan Mantri Suraksha Bima Yojana |
| Type of cover | Accidental death and disability insurance |
| Annual premium | ₹20 per member per year |
| Accidental death | ₹2 lakh to the nominee |
| Total permanent disability | ₹2 lakh |
| Partial permanent disability | ₹1 lakh |
| Age limit | 18 to 70 years |
| Cover period | 1 June to 31 May every year |
| How to join | Bank branch, net banking, mobile banking, post office, Jan Suraksha portal |
| Official portal | jansuraksha.gov.in |
PMSBY Scheme Benefits and Cover Amount
The biggest benefit of the PMSBY Scheme is the large cover for a very small premium. A private personal accident policy with the same cover usually costs much more and needs paperwork. Here, the bank does most of the work and the money is paid straight into the nominee account if a claim is approved.
The benefit amount depends on what happens in the accident. The payouts are fixed and are not linked to your income or the hospital bill. The table below shows how the money is paid under the PMSBY Scheme.
- Accidental death: ₹2 lakh is paid to the nominee or legal heir.
- Total and irrecoverable loss of both eyes, both hands or both feet: ₹2 lakh is paid to the insured person.
- Loss of sight of one eye along with loss of use of one hand or one foot: ₹2 lakh is paid.
- Total and irrecoverable loss of sight of one eye, or loss of use of one hand or one foot: ₹1 lakh is paid.
Common accidents such as road crashes, falls from height, drowning, electric shock at work and other sudden external events are the usual reasons for claims. The cover works anywhere, so it is useful for people who travel every day for work or who do risky jobs like construction, fishing or driving.
Another plus point is that you can hold this cover along with any other insurance. If you already have a group accident policy from your employer or a vehicle owner-driver cover, the PMSBY Scheme payout still comes on top of it. It is not a replacement for health insurance, so pair it with a health plan such as KASP Karunya Arogya Suraksha Padhathi if your family is eligible.
PMSBY Scheme Eligibility in 2026
Eligibility rules are simple, which is why this scheme has crores of members across India. You only need to meet the basic conditions below on the date you enrol.
- You must be between 18 and 70 years of age.
- You must have an individual savings bank account or a post office savings account.
- You must give consent for auto-debit of the yearly premium from that account.
- Aadhaar is the main KYC document linked to the account.
- One person can be covered under the PMSBY Scheme through only one account. If you join through two banks, the claim is paid only once and the extra premium may be lost.
Joint account holders can each join, as long as every person meets the age rule and pays a separate premium. Non-resident Indians who still hold an eligible Indian savings account can also enrol, but any claim is paid in Indian rupees to the nominee bank account in India.
Documents Required for PMSBY Scheme
Because you join through your existing bank account, the document list is very short. Your bank already has your KYC on record. Still, keep the items below ready, especially if you are joining at the branch for the first time.
- Savings bank account number or post office account number
- Aadhaar card linked to the account
- Mobile number registered with the bank
- Name, date of birth and relationship of your nominee
- Filled PMSBY enrolment and consent-cum-declaration form (only for branch enrolment)
If you do not yet have a bank account, open a zero-balance basic savings account first. Many Kerala families who registered on the e-Shram card portal already have an Aadhaar-linked account that can be used to join the same day.
How to Apply for PMSBY Scheme: 5 Easy Steps
You can join the PMSBY Scheme online or offline. Online enrolment through net banking or a mobile banking app takes less than five minutes. Branch enrolment is useful for senior citizens and people who do not use internet banking. Follow these five easy steps.
- Choose your enrolment channel. Log in to your bank net banking or mobile app, or visit your home branch, a post office, or a Business Correspondent (Bank Mitra) point in your village.
- Find the Jan Suraksha or insurance section. In most apps it is listed under Insurance, Social Security Schemes or Government Schemes. Select Pradhan Mantri Suraksha Bima Yojana.
- Select the account and add a nominee. Pick the savings account from which the ₹20 premium will be debited, then enter your nominee name, relationship and date of birth.
- Accept the declaration and auto-debit consent. Read the terms, tick the consent box for yearly auto-renewal, and confirm with OTP or your banking password.
- Download or collect the acknowledgement. Save the certificate of insurance or acknowledgement slip. Share a copy with your nominee and keep the account balance above ₹20 every May.
If you prefer paper, download the form from the official portal, fill it in English or your regional language, sign it and submit it at the branch. The bank staff will debit the premium and give you an acknowledgement. Many banks also let you join through an SMS facility, so ask your branch whether that option is available.
PMSBY Scheme Premium and Auto-Debit Rules
The premium of the PMSBY Scheme is ₹20 per year for each member. It is taken in a single instalment from your account. For existing members, the auto-debit normally happens before 1 June so that the new cover year starts without a gap. Keep at least the premium amount in the account during the last week of May.
If you join in the middle of the year, you still pay the full ₹20, and the cover runs until the next 31 May. After that it renews automatically every year as long as your auto-debit consent is active and the balance is enough. You can also opt for long-term auto-debit when you enrol, so you never miss a renewal.
Part of the premium goes to the insurer, and small amounts go to the bank and Business Correspondent as administrative charges. There are no hidden fees. If your bank charges anything extra for this cover, you can raise a complaint with the bank grievance cell or the national helpline listed on the official portal.
When Does PMSBY Scheme Cover End?
Your cover under the PMSBY Scheme will stop in the following situations. It is important to know these points so that your family is never left without protection by mistake.
- When you reach 70 years of age (age nearest birthday).
- When you close the savings bank account linked to the cover.
- When the account does not have enough balance to pay the yearly premium on the renewal date.
- When you have joined through more than one account, cover stays only in one account.
If your cover lapsed because of low balance, you can rejoin by paying the premium again and giving fresh consent, provided you are still within the age limit. Rejoining is simple, but any accident that happens in the gap period will not be covered. That is why a small standing balance is the easiest way to keep the cover active.
PMSBY Scheme Claim Process for Nominees
When an accident happens, the nominee or the injured member should inform the bank branch where the account is held as early as possible. Delay can slow down the claim. The bank collects the documents, verifies the enrolment, and sends the claim to the insurance company. The approved amount is credited to the nominee or the insured person bank account.
- Inform the bank branch and ask for the PMSBY claim form and discharge receipt.
- Fill in the claim form with details of the accident, date, place and nominee bank account.
- Attach the documents listed below and submit them at the same branch.
- The bank certifies the form, checks that the premium was paid, and forwards the claim.
- The insurer reviews the file and pays the eligible amount by direct credit.
Documents Needed for a PMSBY Scheme Claim
- Duly filled claim form and discharge receipt signed by the nominee
- Death certificate (for death claims)
- Copy of FIR or police panchnama describing the accident
- Post-mortem report, where conducted
- Disability certificate from a Civil Surgeon or competent medical authority (for disability claims)
- KYC documents of the nominee and the insured, such as Aadhaar
- Cancelled cheque or passbook front page of the nominee account
Keep photocopies of every paper you submit and ask for a written acknowledgement. If the claim is delayed, follow up with the branch manager first. If that does not help, you can use the grievance link on the Jan Suraksha portal or the bank insurance helpline.
PMSBY Scheme vs PMJJBY: Which One Do You Need?
Many people confuse the PMSBY Scheme with Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). Both are part of the same Jan Suraksha family, but they cover different risks. The best choice for most working adults is to hold both, because together they cost less than ₹500 a year.
| Point | PMSBY | PMJJBY |
|---|---|---|
| Type | Accident insurance | Life insurance (death due to any cause) |
| Premium | ₹20 per year | ₹436 per year |
| Cover | ₹2 lakh death, up to ₹2 lakh disability | ₹2 lakh on death |
| Joining age | 18 to 70 years | 18 to 50 years |
| Disability benefit | Yes | No |
If an insured person dies in an accident and holds both covers, the family can claim under both plans. If you also want a guaranteed pension after 60, add the Atal Pension Yojana to the same bank account. These three Jan Suraksha schemes together give a strong base of social security for very little money.
Why the PMSBY Scheme Matters for Kerala Families
Kerala has a large number of people who travel long distances by road every day, work in fishing and construction, or return home from the Gulf and start small businesses. An accident can suddenly stop the family income. The PMSBY Scheme gives a quick cash support at that moment, when hospital bills, loans and school fees are still running.
Gulf returnees and their families should check that the cover is linked to an active Indian account, not a dormant one. If you are restarting life in Kerala with a small business loan under schemes such as NDPREM or PM Mudra, the PMSBY Scheme is a smart low-cost protection for your family while you repay the loan.
Women members, students above 18 and senior citizens up to 70 can also join. Many self-help group members in Kudumbashree units have enrolled through their group bank accounts after awareness camps. If you belong to such a group, ask your coordinator to arrange a joint enrolment day at the nearest branch.
Common Mistakes to Avoid
- Not adding a nominee: Without a nominee, the claim goes through a longer legal heir process. Always add one.
- Keeping zero balance in May: A failed auto-debit means your cover stops on 1 June.
- Joining in many banks: Only one cover is valid, so extra premiums are wasted.
- Not telling family members: Your nominee should know which bank holds the cover and where the slip is kept.
- Delaying the claim: Inform the bank quickly and collect the FIR and medical papers early.
PMSBY Scheme: Frequently Asked Questions
1. What is the premium of the PMSBY Scheme in 2026?
The premium is ₹20 per member per year, auto-debited from your savings bank account. The amount has not changed since the 2022 revision.
2. Does the PMSBY Scheme cover natural death?
No. The PMSBY Scheme only covers death or disability caused by an accident. For death due to illness or any other cause, join PMJJBY, which gives ₹2 lakh life cover for ₹436 a year.
3. Can I join the PMSBY Scheme online?
Yes. Most banks offer enrolment through net banking and mobile banking apps. You can also use the Jan Suraksha portal or visit the branch with a filled form.
4. Can NRIs join the PMSBY Scheme?
An NRI who holds an eligible Indian savings account can enrol, but claims are settled only in Indian rupees to the nominee bank account in India.
5. What happens if I miss the renewal?
Your cover stops when the premium is not paid. You can rejoin later by paying ₹20 and giving fresh consent, but accidents during the gap are not covered.
6. How much does the nominee get on accidental death?
The nominee receives ₹2 lakh, paid directly to the nominee bank account after the claim is approved.
7. Can I have the PMSBY Scheme along with other insurance?
Yes. It works alongside any other life, accident or health insurance you hold. The payout is not reduced because of other policies.
Conclusion
The PMSBY Scheme is one of the simplest ways to protect your family from the money shock of an accident. For ₹20 a year, you get ₹2 lakh accident cover with almost no paperwork. Check your bank app today, confirm whether you are already enrolled, add a nominee if missing, and keep a small balance every May for renewal.
Share this guide with your parents, workers and friends who have a bank account but no insurance. For more government scheme updates and Kerala job news, keep visiting Saja Jobs, and always confirm the latest rules on the official Jan Suraksha portal before you apply.