Prime Minister Suraksha Bima Yojana (PMSBY)
The prime minister of India has brought up with the number of schemes, the PMSBY is one among them and the Modi’s government had got up good awareness in the Indian people through the process of him always plays a success mode in the people usage graph.
The reason behind the scheme
The main theme of this scheme is for the accidental death and disability, this is also a scheme but not like health insurance. Giving Barbosa or holding the hand of a needy family those who are in depression about their loved ones who meat with accidental death and got disability.
To the clear cut imagine a person traveling and all of a sudden day the met with an accident and spot dead or else by that accidental attack lost his either eyes, legs or hands, to those type of people the Indian government passed a rule to glide over them with the financial support.
This scheme was raised up in the year 2015, during the Modi’s government and by the year of 2018, the subscribers of this scheme crossed nearly 1.3 core applications, huge positive response from the people’s side.
“A family with a responsibility father always be happy and wealthy, as same as with PM of India the decisions he take and the schemes he develops all because of a better tomorrow and to make India as a developed country”.
Work process of PMSBY
The scheme only for under the accidental and disabilities, the application process for only one-year validity if the holder wants to continue then again need to get renewal after one-year completion. For suppose the holder logged in on June 1st by the May 31st 1 year completes if in case the holder needs to continue again the process will be renewed.
Eligibility to get registered with this scheme must be above 18 years and up to the maximum age 70 years, the Core importance for the low and middle-class people the NRI’s also eligible for this scheme.
If the holder having the number of bank accounts the scheme accepts any one bank account details only for the further continuation along with the holder information for the future scope from the family either mother or wife should be the nominee, to further details the nominee account details and all other profile are compulsory, but if any claim arises the beneficiary/ nominee will hand over only in Indian currency.
Inclusions and exclusions
- The person who meat with an accident or got disabled will receive the funds from the government side, the government will stretch hand forward to help the needy
- Only for cases like accidental death, murdered, and died with the diseases.
- If the person got an accident he needs to get the police regards to proving, unless that government will not spend money
- In the case of murdered the 100% evidence must handover to the police then the police will connect the government
- The government will not consider the suicide attempted persons to invest their money.
- Even though the suicide attempt person having the insurance account the family or nominee will not get any benefits.
The annual payable amount to the government Rs 12/ per annum, the money will be paid by an auto bank through the credit card after the 1 year done, if the holder wants to stay one more year then the account need to modified and then the premium will auto banked otherwise the holder can quite.
How to apply the PMSBY
To register have two different types the one via sending and receiving the messages and the other was via net banking
Activate via SMS
- The holder will be received an SMS to give reply as ‘PMSBY’
- To get register the holder replies as ‘PMSBY Y’
- Holder will get the confirmation SMS
- To further process of registration, the holder profile and the nominee name, relationship, date of birth and all other details take to be taken
- In case the nominee details are not available in banking records the process will not be taken further. The holder may need to apply from the beginning
- In case the auto debit fails due to the insufficient balance or other reasons the insurance process may pause.
Activate via net-banking
- Log on to the net banking
- The web site of PMSBU will be shown
- Select the account through which you want to pay the premium
- The policy will cover the amount, premium amount and nominee details of either the nominee account was in saving account or new account
- The following details will appear
- Good health details
- Terms and conditions
- I do not hold any other policy of the same
- Click to continue
- If okay with the registration information click confirm
- Download the acknowledgment which carries with one unique number
- Finally, save the acknowledgment document for future reference.