Our lives are a game on the edge. Anything can happen at any time. Insurance is a very important part of our lives. With the help of government, we can get insurance coverage of up to Rs 2 lakh, if we payable premium of just Rs 12 / year ,with out spending much . This scheme is called the PMBSy. (Pradhan Mantri Bima Suraksha Yojana ).
Premium is only Rs 12 per year . It can be started with a saving bank account . Currently we have a savings bank account in many different banks. We can join this scheme only from one bank account. This is also called a personal accident insurance .
It receives coverages for accidental death, completed disabilities ,partial defects. The age limit for joining in this insurance coverage is 18 to 70 years. At the age of 18, you pay an annual premium of just Rs 12. If we wish to continue with this scheme in the coming years, we need to give the permission to the bank for auto debit. The annual premium of Rs 12 per year will be taken from our account.
The insurance period is June 1st to May 31st. We should join this came on or before may 31st. From June 1 to may 31 we get the benefits. Protection of this scheme is accidental death , disability get up to Rs 2,00,000 . Up to Rs 1 lakh for partial defects.
In all banks, this facility may not necessary . The central government is introducing a scheme like this in nationalised bank in addition to a Cooperative Banks. It is a corporation of public sector insurance companies and the other public insurance companies. It is possible to claim without a large lag. The delay is too short for this government scheme. In the case of the PMSBY scheme, we will have to do this every year to renew auto debit system in our bank account. Share this information to others.