Coverage amounts and eligibility rules
- Eligible age group: Indian bank or post office savings account holders aged between 18 and 70 years.
- Accidental death cover: Full insurance cover paid to the nominee upon accidental death.
- Total disability cover: Full insurance cover paid to the insured for irrecoverable loss of both eyes, hands, or feet.
- Partial disability cover: Fifty percent of the insurance sum paid for permanent loss of one eye, hand, or foot.
Nominal premium and auto-debit facility
The annual premium is exceptionally modest and is automatically debited from the subscriber's savings bank account in a single installment between 25th May and 31st May each year. Maintaining adequate account balance during this period ensures continuous insurance coverage from 1st June to 31st May.
Claim submission procedure
In the event of an accident, the nominee or insured person must submit a completed claim form to the servicing bank branch within 30 days, accompanied by the police FIR, panchnama, post-mortem report (in case of death), or hospital disability certificate.
Official source
Check the latest rules, benefits and forms here. KisanPe is an independent platform and is not a government website.
Jansuraksha Portal (Department of Financial Services) ↗Related on KisanPe
Common questions
Who is eligible to join PMSBY?
Any individual aged 18 to 70 with an active savings account in a participating bank or post office can enroll.
How is the annual premium paid for PMSBY?
The premium is deducted automatically through an auto-debit mandate from the subscriber's bank account every May.
Does PMSBY cover death due to natural diseases?
No, PMSBY covers only accidental death and permanent disability resulting directly from accidents.
General guidance, not personal advice. For your farm, ask your local Krishi Vigyan Kendra or agriculture officer.
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