PMSBY- You can save from a loss of lakhs in just 20 rupees, know about this scheme

The Indian central government runs various types of schemes to help the economically weaker people of the country, which aim to improve and uplift the lifestyle of these people, one such scheme is Pradhan Mantri Suraksha Bima Yojana (PMSBY), which was launched in 2015. The purpose of this insurance scheme is to provide financial security to face the uncertainties of life, let's know complete information about this scheme-

Affordable premium: This scheme requires a nominal premium of only ₹ 20 per year, making it accessible to a wide range of individuals.

Insurance coverage: Participants get insurance benefits of up to ₹ 2 lakh in case of accidental death or permanent disability due to an accident.

Comprehensive benefits:

In the event of accidental death of the insured, the nominee gets ₹ 2 lakh. If the insured suffers a total disability, such as loss of both eyes or limbs, they are entitled to ₹2 lakh. For partial disability (e.g., loss of one eye, one arm, or one leg), an amount of ₹1 lakh is provided.

Renewal and auto debit facility: The scheme gets automatically renewed every year, with the premium being deducted from the bank account on June 1. This ensures seamless coverage.

Eligibility: The scheme is open to individuals in the age group of 18 to 70 years, specifically targeting those from backward and economically disadvantaged sections.

Application process: Interested individuals can apply for PMSBY through both online and offline modes, making it convenient for all.