There are some of the most commonly asked questions about What PMSBY stands for | What is the Meaning of PMSBY | Acronyms for PMSBY | Definition of PMSBY | PMSBY meaning | PMSBY full form in different categories.
The Full Form of PMSBY: Pradhan Mantri Suraksha Bima Yojana
PMSBY stands for Pradhan Mantri Suraksha Bima Yojana. PMSBY launched by the Government of India is a government insurance scheme that was launched on 8 May 2015, which provides a personal accident insurance policy to Indian citizens at no extra cost. The main objective of this scheme is to provide strategic and financial security to the common citizens.
To get the benefit of Pradhan Mantri Suraksha Bima Yojana, the applicant has to pay a premium of ₹ 12 per year. If the life assured dies, in this case the sum assured is given to the nominee. Apart from this, the insurance amount is also provided in case of permanent disability.
The Pradhan Mantri Suraksha Bima Yojana provided by the Government of India provides you with financial assistance in case of an accident. Through this plan, you can get a guaranteed sum assured, which can range from ₹100,000 to ₹200,000.
The scheme is available to people between the age of 18 years to 70 years. You will be required to pay a minimum premium every year, which will be deducted from your bank account before June 1. Hence, it is mandatory to have the auto debit facility activated on your bank account to avail the benefits of the scheme.
Benefits of Pradhan Mantri Suraksha Bima Yojana
It is necessary to fulfill the following criteria for Pradhan Mantri Suraksha Bima Yojana:
- You must be an Indian citizen.
- Your age should be between 18 years to 70 years.
- You must have a bank account. The premium amount should be automatically debited from the bank account to avail of the benefits of the scheme.
- You have to make regular premium payments in the plan.
- If the above criteria are met for your eligibility, then you can apply for Pradhan Mantri Suraksha Bima Yojana. To apply for the scheme, you need to visit your nearest bank branch and fill out the application form and carry the required documents.
Documents required for PMSBY Scheme
To apply for Pradhan Mantri Suraksha Bima Yojana (PMSBY) you need to carry the following essential documents:
- Aadhar card
- voter card
- PAN card
- age proof
- Bank account statement
- income certificate
- Mobile number and a passport-size photograph.
Scheme Features of PMSBY :
Personal Accident Insurance: PMSBY is a personal accident insurance scheme in which members get an opportunity to get financial assistance in case of an accident.
Advance Insurance Receipt: On joining the scheme, the members get an annual advance cover which they get financial security benefits by paying a minimum premium.
Financial Assistance: Under the scheme, if a member dies in an accident or becomes infected, financial assistance is provided to his family on the basis of that. Under this, if a person becomes disabled due to an accident, he also has the right to get financial help.
Other Acronyms, and meanings of PMSBY
|ICDS||Integrated Child Development Services||Governmental|
|ICDS||Ibn Khaldoun Center For Development Studies||Academic & Science|
What is the meaning of PMSBY in banking?
The meaning of PMSBY is “Pradhan Mantri Suraksha Bima Yojana “.
What does PMSBY stands for
PMSBY stands for “Pradhan Mantri Suraksha Bima Yojana “.
What is the full form of PMSBY?
The Full Form of PMSBY is “Pradhan Mantri Suraksha Bima Yojana “.
What does PMSBY mean?
PMSBY means “Pradhan Mantri Suraksha Bima Yojana “.
What is the PMSBY Meaning in yojana?
The PMSBY means “Pradhan Mantri Suraksha Bima Yojana “.
What is the PMSBY Full Form in banking
The PMSBY Full Form is “Pradhan Mantri Suraksha Bima Yojana“.
Now you might have got some ideas about the Meaning of PMSBY. And also the meaning, definition, abbreviation, and acronym for PMSBY in different categories.