🗓️Last Updated: June 2026

PMSBY 2026: ₹2 Lakh Accident Insurance for Just ₹20/Year

Pradhan Mantri Suraksha Bima Yojana (PMSBY) is the world's most affordable accident insurance scheme. For just ₹20 per year (auto-debited from your bank account), you get ₹2 lakh accident death and total disability cover, and ₹1 lakh for partial disability. Available to any Indian citizen aged 18–70 with a savings bank account.

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Verified by NagrikIQ Research Team
Sources: Official .gov.in portals only · Updated June 2026
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Official Sources
🔗jansuraksha.gov.in — Official Portal →

📋 Overview

Pradhan Mantri Suraksha Bima Yojana (PMSBY) was launched on 9 May 2015 as part of the Jan Suraksha initiative — alongside PMJJBY (life insurance) and APY (pension). PMSBY is implemented through public sector banks and extended to other banks and insurance companies through a tie-up arrangement. Cover details: - Death due to accident: ₹2 lakh - Total permanent disability (loss of both eyes, or both hands/feet, or one eye and one hand/foot): ₹2 lakh - Partial permanent disability (loss of one eye, or one hand/foot): ₹1 lakh - Non-accidental death / illness: NOT covered (PMSBY covers accident risk only) Premium: ₹20 per year (increased from ₹12 in 2022). The premium is auto-debited from your savings bank account on 1 June every year. Coverage period: 1 June to 31 May of the following year (annual). Underwriter: Public Sector General Insurance Companies (New India Assurance, National Insurance, Oriental Insurance, United India Insurance) or any other general insurer tied up with your bank. Key benefit: PMSBY is the most cost-effective accident insurance available in India. At ₹20/year = ₹1.67/month, it provides ₹2 lakh cover that would otherwise cost ₹200–500+ per year in the private market. Over 45 crore enrolments across India as of 2026.

✅ Eligibility

  • ✓Indian citizen aged 18 to 70 years
  • ✓Must have an active savings bank account at a participating bank
  • ✓Aadhaar-linked bank account is preferred (mandatory for DBT claim)
  • ✓One PMSBY enrolment per person (even if you have multiple bank accounts — you enrol from one account)
  • ✓If you have Jan Dhan account, PMSBY can be enrolled from that account
  • ✓Must consent to auto-debit of ₹20 annual premium from savings account on 1 June each year
  • ✓Account must have sufficient balance (₹20) on the auto-debit date — if balance insufficient, cover lapses
  • ✓Can re-enrol in a future year after lapse — no permanent disqualification

📁 Documents Required

▸Aadhaar card (for identity verification and claim processing)
▸Savings bank account details (account number, IFSC — the account from which ₹20 will be auto-debited)
▸Mobile number linked to bank account (for consent and communication)
▸For claim filing: FIR copy (for accident death), death certificate (for death claims), hospital records (for disability claims)
▸For nominee: nominee's Aadhaar and bank account details are registered at time of enrolment
▸No separate health certificate or medical examination required for enrolment

💰Fees & Processing Time

Fee
₹20 per year (premium). Auto-debited from your savings bank account on 1 June each year. No other charges.
Processing Time
Enrolment: immediate (same day via net banking/mobile banking or within 1–2 days via branch). Coverage starts from the date of enrolment (or from 1 June if auto-renewing). Claim settlement: within 30 days of submission of complete documents to the bank/insurer.

🖥️ How to Apply Online

  1. 1Log in to your bank's internet banking or mobile banking app
  2. 2Go to 'Insurance' or 'Government Schemes' section — look for 'PMSBY' or 'PM Suraksha Bima'
  3. 3Click 'Enrol for PMSBY'
  4. 4Verify your details: name, Aadhaar number, date of birth, savings account number
  5. 5Enter nominee details: nominee's name, relationship, date of birth, Aadhaar
  6. 6Give consent for auto-debit of ₹20 on 1 June every year from your savings account
  7. 7Confirm enrolment — you receive an SMS confirmation on your registered mobile
  8. 8Premium of ₹20 is debited immediately (pro-rated if enrolling mid-year) or from next June
  9. 9Keep your policy number (confirmation number from bank) for claim filing reference

🏢 How to Apply Offline

  1. 1Visit your bank branch (any participating bank) and ask for PMSBY enrolment form
  2. 2Fill the form: personal details, Aadhaar number, account number, nominee details
  3. 3Submit the form — bank processes enrolment and auto-debit consent
  4. 4You receive an enrolment confirmation letter or SMS
  5. 5Alternatively: visit your nearest CSC (Common Service Centre) — they can enrol you in PMSBY for Jan Dhan account holders
  6. 6Ensure your account has ₹20 available on 1 June every year for uninterrupted coverage

⚠️Common Problems & Solutions

✗Premium of ₹20 not debited — am I still covered?
→If the premium auto-debit fails on 1 June (due to insufficient balance), your PMSBY cover lapses. To restore: ensure your account has ₹20, then contact your bank to retry the debit or re-enrol for the current year. Some banks allow mid-year re-enrolment with a fresh auto-debit. Coverage resumes from re-enrolment date.
✗Claim rejected — insurance company says accident was not covered
→PMSBY covers only accidental death and disability — not natural death, illness, or self-inflicted injuries. Ensure the claim is for an accidental cause (road accident, fall, drowning, etc.) supported by FIR and hospital records. If you believe the rejection is wrong, escalate to the Insurance Ombudsman at irdai.gov.in for dispute resolution.
✗Nominee details are wrong — how to update
→Visit your bank branch and fill the PMSBY nominee change form. Carry the new nominee's Aadhaar details and your own Aadhaar. The update is processed within 3–5 working days. Correct nominee details are critical for claim payment after the insured's death — wrong nominee can delay or complicate claims.
✗How to file a claim for accidental death of a PMSBY holder
→The nominee must visit the insured person's bank branch within 30 days of the accident with: death certificate, FIR/police report, PMSBY enrolment certificate, nominee's identity proof (Aadhaar), and nominee's bank account details. The bank forwards the claim to the insurer. Settlement is done within 30 days of complete claim submission.

❓ Frequently Asked Questions

Q.Is PMSBY renewed automatically every year?

Yes. PMSBY has an auto-renewal feature — ₹20 is automatically debited from your savings account on 1 June every year. You do not need to re-enrol annually. Coverage is seamlessly renewed as long as your account has sufficient balance on 1 June and your age is ≤70 years.

Q.Can I have PMSBY and PMJJBY both?

Yes. PMSBY (accident cover ₹2 lakh, ₹20/year) and PMJJBY (life insurance ₹2 lakh, ₹436/year) are separate schemes. You can and should enrol in both. Together they cost only ₹456/year for ₹4 lakh total cover (₹2 lakh for any death under PMJJBY + ₹2 lakh additional for accidental death under PMSBY).

Q.Is there a waiting period after enrolment?

No. PMSBY has no waiting period — coverage is effective from the date of enrolment. If you enrol today and have an accident tomorrow, you are covered. This is unlike health insurance that has waiting periods for pre-existing conditions.

Q.What happens when I turn 70 — does coverage stop automatically?

Yes. PMSBY coverage ceases on the date of the 70th birthday. The auto-debit also stops from the next June renewal. If you want accident coverage beyond 70, you must purchase a separate commercial accident insurance policy.

Q.Can a farmer who already has crop insurance also get PMSBY?

Yes. PMSBY (personal accident insurance) is separate from PMFBY (crop insurance). A farmer should ideally have both — PMFBY covers crop loss and PMSBY covers personal accident risk. Both can be held simultaneously and there is no conflict between the two policies.

📞Helpline & Support

  • ▸PMSBY Helpline: 1800-180-1111 or 1800-110-001 (toll-free)
  • ▸Official Portal: jansuraksha.gov.in
  • ▸Your Bank's Customer Care: Contact your bank for enrolment/claim assistance
  • ▸Insurance Ombudsman: For claim disputes — irdai.gov.in/ombudsman
  • ▸Grievance: pgportal.gov.in
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Disclaimer: NagrikIQ is an informational platform and is not affiliated with any government department. Information provided is for guidance only. Always verify details on the official government portal before taking action.