PMSBY: Spend only Rs 12 in this scheme of the government, you will get full benefit of 2 lakhs; take it fast

In today’s hectic life, it is very important for every person to have insurance. In such a situation, under a scheme of the government, you can get accident insurance of Rs 2 lakh by spending Rs 12. The name of this scheme is Pradhan Mantri Suraksha Bima Yojana (PMSBY). The premium of Rs 12 is for one year.

Eligibility to take advantage of the scheme

Any bank account holder between the age of 18 to 70 years can take advantage of this scheme of the government. Under the Pradhan Mantri Suraksha Bima Yojana, the insurance period every year is from June 1 to May 31.

Claims must be made within 30 days

Under the Pradhan Mantri Suraksha Bima Yojana (PMSBY), a claim has to be made within 30 days in the event of an accident. This claim is settled in a maximum period of 60 days. To take insurance under this scheme, you should have a sufficient amount in your account by 31st May so that this amount is automatically deducted.

In this situation, you will get 2 lakhs

If the policyholder dies, there is a provision for the nominee to receive Rs 2 lakh under this scheme (Pradhan Mantri Suraksha Bima Yojana). In an accident, both eyes or both arms or both legs are completely disabled or one eye is lost or one arm or one leg is not functional, then Rs 2 lakh is given to the policyholder.

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This way you will get one lakh

In case the policyholder suffers the complete and irreparable loss of one eye or loss of one arm or one leg in an accident, there is a provision of Rs.

Insurance cover will not be available in this situation

If there is not enough balance in the savings account linked to the insurance policy or the policyholder has closed the account, the cover will not be available. If the Life Assured is covered by more than one bank account and the premium is unintentionally received by the company, the cover will be available on only one account.

Where to get this plan

You can apply for this scheme (PMSBY) through your bank. Also, you can buy from government general insurance companies or any other general insurance companies that are offering this product on terms and in a tie-up with the bank.