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Pradhan Mantri Suraksha Bima Yojana (PMSBY)

Government of India — small savings · Government & Post Office Schemes

Accident cover of ₹2 lakh for a very small annual premium, debited from your account.

Terms set by notification Not published as a number here — it varies by provider, tenure or plan.

The official portal for the scheme, with current premium and claim conditions.

Check the official page

Source Jan Suraksha — official portal

www.jansuraksha.gov.in

The official portal for the scheme, with current premium and claim conditions.

How it works

Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a government schemes product from Government of India — small savings, in the conditional category: depends on terms being met. Accident cover of ₹2 lakh for a very small annual premium, debited from your account.

Because the return type is conditional, the questions that matter most are: Which conditions have to be true for me to get the stated return? What do I get if those conditions are not met?

  • Very cheap accident cover
  • A basic safety net alongside a savings account

Key facts

Provider
Government of India — small savings
Source
Jan Suraksha — official portal ↗ https://www.jansuraksha.gov.in
Rate
Terms set by notification ↗
Category
Government & Post Office Schemes
Minimum investment
₹20 annual premium, debited automatically; the figure is revised periodically
Tenure
One year, renewable
Payout
Lump sum on accidental death or disability
Eligibility
Account holders aged 18 to 70, with the premium auto-debited.
Getting your money back
No maturity value: this is accident insurance.
Protection
Backed by the participating bank or insurer under the scheme's terms.
Tax
The payout is generally exempt; the premium is not a savings deduction.

What can go wrong

  • Covers accidents only, not illness or natural death.
  • Cover stops if the premium cannot be debited.
  • There is no return of premium.

Before you decide anything

  • The current premium
  • What counts as disability under the scheme

These are questions to take to the provider, not a checklist that makes a product suitable. Whether something fits your situation is a decision only you — or an adviser you choose — can make.

Official sources

These link to the regulator or provider where the rules for this type of product are set out. They are the pages worth checking before you act, because they are the ones that get updated.

Other products in this category

The same rules and the same kind of trade-offs, described the same way.