Cheapest insurance plan: Think, in today’s era, when a plate chickpea-bhature is not available for less than 60 rupees, then there is an insurance plan which can remove the biggest tension of your life in just 20 rupees annually.
Let’s know what is this scheme and every details of it
It is the Prime Minister’s Security Insurance Scheme (PMSBY) of the Government of India. That is, life insurance is received cheaply than 2 rupees a month. Meaning at less than a match, which comes in two rupees. So far, more than 51 crore people have registered in this scheme.
Pradhan Mantri Suraksha Bima Yojana is an accidental insurance scheme, which was launched in 2015. Under this, any Indian citizen can cover themselves in the case of accident by paying only 20 rupees annually. This premium gets auto-debit from your savings account, that is, you do not need to remember anything.
In this scheme, if the person taking insurance somehow dies, then the nominee or family gets an amount of Rs 2 lakh. There is no need for any medical examination to take insurance in it. Apart from this, Rs 2 lakh is provided in the event of permanent complete disability in the accident. 1 lakh rupees are received in the event of permanent partial disability.
If someone’s age is at least 18 years and at least 70 years, then they can all take advantage of this insurance. Apart from this, there should be any savings bank account of the applicant and can spend 20 rupees in a year. Its renewal is done on 1 June every year. The premium is cut in the last week of May. If you want to remain constant in the plan, then give the bank permission for auto-renewal. That is, its duration is one year.
- Go to your bank branch or activate PMSBY from net banking.
- Fill the form, link the base (if not).
- 20 will be cut and you will get 1 year security.
If someone’s life goes to earthquake, flood, storm or any natural disaster or disability comes, PMSBY gives full coverage of it. But if someone has committed suicide, then it is not covered in it. If someone is killed, he is included in this insurance.