PM Suraksha Bima Yojana: Invest Rs 1 per month and get insurance of Rs 2 lakh; check out all details

The central government has taken a step to provide social security to poor families in the country. Under the Pradhan Mantri Suraksha Bima Yojana (PMSBY), you will now have to pay only Rs 1 per month and your family will get an insurance cover of Rs 2 lakh.

In today's stressful life, insurance is not just an investment but a necessity. So your family can get social security. Most people in the upper middle class have insurance but the poor can't afford it because they can't afford to pay the premium. Therefore, the central government has started this scheme for the social security of poor families. Under the Pradhan Mantri Suraksha Bima Yojana (PMSBY), you will have to pay Rs 12 a year, which will provide accident insurance cover of Rs 2 lakh. Another feature of the scheme is that the premium of Rs 12 will have to be paid once a year and it will be automatically deducted from your bank account.

If you register for this plan, Rs 12 will be deducted from your account before May 31 of each year and you will get insurance cover between June 1 and May 31. According to the scheme, a person will get accident insurance of Rs 2 lakh in case of an accident or permanent disability, while you will get insurance cover of Rs 1 lakh in case of injury or temporary disability. You must have a balance in your bank account to avail the benefits of this scheme. If the bank account is closed, the policy is closed.

How to register?
If you want to avail this scheme, you have to go to your nearest bank and apply. The Central Government is implementing this scheme in collaboration with all public and private banks.

What age group will benefit from this?
The Prime Minister's Security Insurance Scheme (PMSBY) will benefit people between the ages of 18 and 70. If an indiviusla is above 70 years of age, he/she will not get the benefit of this scheme.