A significant portion of your financial security should be made up of insurance policies. There are numerous companies in the country that provide various kinds of insurance coverage. The central government also offers insurance for your family’s financial stability. For just 20 rupees, you can arrange support for your family. In the case that something were to happen to you in an accident, your family would be supported financially. The Pradhan Mantri Suraksha Bima Yojana is a programme of the Central Government that provides insurance coverage up to Rs. 2 lakh.
How much and when to get insurance (PMSBY Scheme Benefits):
When and how much to purchase insurance (PMSBY Scheme Benefits)
The policyholder receives up to Rs 2 lakh in insurance coverage through PMSBY. The policyholder’s family gets this amount of money. This policy has a clause that provides his family with a Rs. 2 lakh insurance payout in the event of his accidental death or total disability. On the other side, the policyholder is covered up to Rs 1 lakh in insurance if an accident results in partial disability.
What are the conditions and method of paying premium (PMSBY Eligibility and Premium):
Anyone between the ages of 18 and 70 may apply for this scheme. The premium must only be paid once under this plan. Premium auto debit is this. To put it another way, if you purchase a policy once a year on May 31, Rs 20 will be automatically taken out of your account. The policy is in effect from June 1 through May 31. On May 31st, the premium is deducted, and the insurance is then automatically renewed for an additional year. This premium was previously Rs 12, however it was raised to Rs 20 in June 2022.
How to apply (How to Apply for PMSBY):
There are many government and private insurance companies that offer insurance plans under this government scheme. You can go there and register for it. It is also applied for by contacting the insurance agent and insurance friend.
How can the nominee claim the policy cover?
In case of death of the policyholder, his nominee can claim the sum assured by going to the insurance company/bank. For this, he will have to submit the death certificate of the policyholder, postmortem report, Aadhaar card, Aadhaar card of the nominee. In case of disability of the policyholder, he will have to submit the hospital papers and Aadhaar card. Yes, the nominee has to claim this amount within 30 days of the accident.