Coverage is available from June 1 to May 31.
You can now join the Central Government Insurance Scheme at the lowest rates. Account-holders can join the Pradhan Mantri Suraksha Bhima Yojana, which provides the lowest cost coverage for accidental deaths, by filling up an application form from the respective bank or online through the relevant bank’s website.
Banks usually charge a premium at the end of May. Many people who have been given the auto-pay option may have already received the SMS message to pay the premium amount.
The premium is Rs 12
Coverage also includes permanent disability at PMSBY with accidental death insurance up to Rs 2 lakh. The annual premium is Rs. Banks will charge the premium between May 25 and 31. The coverage of the project will be available from June 1 to May 31. So it needs to be updated every year. Payment must be made directly to the bank or online as Auto Pay will be excluded from the plan if not approved.
Only 18-70-year-olds with bank accounts can join the scheme. Holders of multiple bank accounts can join through one account. The claim under the scheme is Rs. 2 lakhs for accidental death and total disability and Rs. 1 lakh for partial disability. The amount will be transferred through the respective bank account.