The Government of India has launched a new insurance scheme called Pradhan Mantri Suraksha Bima Yojana (PMSBY) which will provide insurance coverage worth Rs. 2 lakhs at the premium of Rs. 12 per year. This is really very useful for the common man as the premium is very less and the benefits of the scheme or more like death and serious accidents.
The benefits of the scheme are as follows:
1) Death coverage: Rs. 2 lakhs
2) Total loss of both eyes / hands / feet / loss of sight of one eye and loss of use of hand / foot: Rs. 2 lakhs
3) Total loss of sight of one eye OR loss of use of one hand or foot: Rs. 1 lakh
Also See: Atal Pension Yojana Benefits Chart and Registration Details
The premium for the scheme Pradhan Mantri Suraksha Bima Yojana will be deducted from the bank account of the policy holder through auto debit. You can also give one time auto debit mandate for every year till the policy is in force.
The persons should have a savings bank account and age must be between 18 – 70 years. The scheme will be implemented from 1st June 2015 to 31st May 2016 and the subscribers should give their enrollment option by 31st May 2015 and extendable up to 31 August 2015. For more details of the scheme, see www.jansuraksha.gov.in .
I do not know the duration of thePMSBY.pls inform me.