₹2 Lakh Insurance In Less Than 2 Months: Up To 70 Years Old Can Take Advantage Of PMSBY, Details Of The Plan In Question And Answer

Pradhan Mantri Suraksha Bima Yojana (PMSBY), run by the Central Government, has completed 10 this month. In this scheme, life insurance of up to Rs 2 lakh is available at an expense of Rs 20 annually i.e. less than Rs 2 per month. More than 51 crore people have registered in this scheme.

In this insurance scheme, the nominee or family gets an amount of Rs 2 lakh in case of death in any way by the person taking insurance. In this, no medical examination is required to buy insurance.

Here we’re telling you about this plan…

In case of death in an accident, you will get assistance of Rs 2 lakh

In case of death in an accident, Rs 2 lakh is available. Apart from this, Rs 2 lakh will be paid for permanent total disability in an accident like loss of both eyes or both arms or both legs. In case of permanent partial disability in an accident like not being able to use one eye, or one arm or one leg, you will get Rs 1 lakh.

Who can take advantage of it

The applicant must be at least 18 years old. At the same time, only people up to a maximum of 70 years of age will be able to take advantage of this insurance. The duration of insurance cover is one year, which will be for 1 June to 31 May.

Where can you avail the benefits of the scheme

Insurance can be done under this scheme through public sector insurance companies. Apart from this, the benefit of Pradhan Mantri Suraksha Bima Yojana can be availed from any branch of the bank. Wherever you have a bank account. The bank is also partnering with insurance companies to offer the benefits of PMSBY.

Auto debit facility is available

To avail the benefits of PMSBY, you must have a bank account. If you have more than one bank account, you can take this scheme from only one bank. Every year on 31 May, a premium of Rs 20 will be deducted from your bank account through the ‘Auto Debit’ facility.

If there is not enough balance in the account for policy renewal, the policy will be cancelled. The policy can be reinstated on receipt of premium. Enrollment period under PMSBY is from June 1 to May 31. In case of an accident, money should be claimed within 30 days.

Questions and answers related to Atal Pension Yojana

Question: Does it also cover deaths or disabilities caused by natural disasters such as earthquakes and floods?

Answer: Yes, death or disability in natural calamities is covered under Pradhan Mantri Suraksha Bima Yojana.

Question: Is suicide also involved?

Answer: No, death by suicide is not included in this. But death due to murder remains covered in it.

Question: Will the expenses of hospitalization for the treatment of accidental death or disability also be covered under this scheme

Answer: No, it does not cover the cost of any kind of treatment.

Question: In case of death in an accident, does this information have to be given to the police.

Answer: In case of death or disability due to accident like falling from train, vehicle accident, drowning in water or murder, the police has to report it. Whereas in case of death or disability due to snake bite, falling of trees or house collapse, it is mandatory to have a record in the hospital.

Question: Who will get the insurance amount.

Answer: If the person taking insurance becomes disabled then the insurance amount will come into his account. In case of death, the insurance amount will go to the nominee or his legal heir.

Question: How to get the insurance amount.

Answer: Information about the accident has to be given to the insurance company. Apart from this, necessary documents also have to be submitted. After this the insurance company will investigate the claim. If found correct, the insurance amount will be transferred to the bank account.

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