PMSBY is an Accidental Death Insurance scheme launched by the Government of India.
It is aimed at covering the uncovered population at an highly affordable premium of just Rs.12 per year.
The Scheme will be available to people in the age group 18 to 70 years with a savings bank account who give their consent to join and enable auto-debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis.
Features of the scheme
It is aimed at covering the uncovered population at an highly affordable premium of just Rs.12 per year.
The Scheme will be available to people in the age group 18 to 70 years with a savings bank account who give their consent to join and enable auto-debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis.
Features of the scheme
- Age : 18 to 70 years
- Policy period : 1 year
- Premium : Rs 12 per annum
- Payment Mode :Auto-debited by the bank from the subscribers’ savings bank account.
- Risk Coverage : Rs 2 Lakh