Rs 2 lakh accident insurance for Rs 20? Govt's PMSBY scheme benefits explained

The Pradhan Mantri Suraksha Bima Yojana (PMSBY) offers accident insurance coverage of up to Rs 2 lakh for a yearly premium of just Rs 20. This provides financial security in case of accidents.

Pradhan Mantri Suraksha Bima Yojana

The Indian government offers various welfare schemes, and the Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a notable one. Having insurance is crucial, and this scheme is a boon for those who can't afford high premiums.

Rs 2 Lakh Accident Insurance

Launched in 2015, PMSBY offers up to Rs 2 lakh accident coverage for just Rs 20 annually. It aims to support low-income individuals and families by ensuring financial security in case of accidents.

Rs.20 Government Insurance Scheme

The insurance benefits under this scheme are impressive. If the policyholder dies in an accident, the nominee receives Rs 2 lakh. For permanent total disability, the compensation remains Rs 2 lakh. However, for partial disability, it's Rs 1 lakh. These benefits ensure timely financial aid.

Modi Insurance Scheme

Enrolling in this scheme is simple. Any Indian citizen aged 18 to 70 can apply. The policy runs annually from June 1 to May 31, and the premium is auto-debited, making renewal hassle-free. Register via your bank or a Common Service Center (CSC).

Government Insurance for the Poor

With such a low cost and high returns during emergencies, the Pradhan Mantri Suraksha Bima Yojana is one of the most beneficial schemes launched by the government. If you or someone you know isn't insured yet, now's the time to apply.