PM Suraksha Bima Yojana: Life and Accident Cover The PM Suraksha Bima Yojana is a government initiative launched by the Ministry of Rural Development...
The PM Suraksha Bima Yojana is a government initiative launched by the Ministry of Rural Development in 2013 with the primary objective of providing life insurance and accident cover to the rural poor living in India. This scheme offers individuals residing in rural areas access to various benefits and protection in the event of their untimely demise or disability.
Benefits of PM Suraksha Bima Yojana:
Life Cover: In case of the policyholder's death, the beneficiary receives a sum of Rs. 6 lakh along with an additional ** Rs. 50,000** in the form of a lump-sum payment.
Accidental Death Benefit: In the event of an accidental death, the beneficiary receives a sum of Rs. 45,000.
Disability Benefit: Individuals who suffer permanent disability due to accident or disease are eligible for a monthly pension from the government.
Medical Expenses: The scheme provides coverage for medical expenses incurred due to accidents or illnesses.
Funeral Expenses: In case of death due to natural causes, the beneficiary receives a sum of Rs. 25,000.
Education Benefits: In case of the death of the policyholder, the education of their minor children is supported through education grants.
Eligibility for PM Suraksha Bima Yojana:
Individuals above the age of 18 and residing in a rural area are eligible to enroll in the scheme.
The policy can be opted for by both individual and joint families.
There are certain exclusions to eligibility, such as those who are employed full-time in the agricultural sector.
Benefits of PM Suraksha Bima Yojana:
PM Suraksha Bima Yojana is a crucial step towards reducing poverty and improving living standards in rural India. It empowers individuals to plan for their future and provides them with a safety net in times of adversity.
Additional Points:
The scheme is also known as Pradhan Mantri Suraksha Bima Yojana (PMSB) and is managed by the National Insurance Organization (NIO).
The scheme is highly popular and has been extended to cover a vast number of beneficiaries.
It has also received positive feedback from both international and domestic organizations