Applications openCentral Government
Pradhan Mantri Suraksha Bima Yojana (PMSBY) — accident insurance for Rs 20 a year
Government of India (Ministry of Finance, Department of Financial Services)
Overview
A government-backed accident insurance scheme covering death or disability from accidents. For an annual premium of only Rs 20, it provides insurance of up to Rs 2 lakh.
Anyone aged 18 to 70 with a savings bank account can join. The premium is auto-debited from the account. The cover period runs from 1 June to 31 May each year, and the policy must be renewed annually.
You can enrol through only one bank account even if you hold several. Enrol at your bank branch or through net/mobile banking; Aadhaar is the preferred KYC document.
At a glance
- Administering authority
- Government of India (Ministry of Finance, Department of Financial Services)
- Scheme type
- Social Security
- Place of posting / area
- All India
- Application mode
- Online and offline
- Important dates
- Applications accepted year-round
Benefits
- Insurance of up to Rs 2 lakh for accidental death or disability
- Premium of only Rs 20 a year
- Auto-debit from the bank account and easy renewal
- Easy enrolment at participating banks with minimal documents
Eligibility
- Age 18 to 70 years
- Active savings bank account (single or joint)
- Consent for auto-debit of the premium
- Aadhaar recommended as the primary KYC document
- Annual renewal (cover runs 1 June to 31 May)
- Enrolment through only one bank account even if you hold several
Required documents
- Savings bank account
- Aadhaar or other valid KYC document (if not already updated with the bank)
- Form with name, age, account number and nominee details
How to apply
- Visit your bank branch or open the PMSBY form in net/mobile banking
- Enter your name, age, bank account number and nominee details
- Authorise auto-debit of the annual premium
- Submit Aadhaar or another valid KYC document if not already updated
- Submit the form and get an acknowledgement
- After the premium is debited, cover starts from the applicable period (usually from 1 June)
Last updated: 1 Nov 2026
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