Pradhan Mantri Suraksha Bima Yojana may be administered by any general insurance company in partnership with participating banks, according to the guidelines issued by the Government of India. In partnership with your local bank branch, Bajaj Allianz offers services under Pradhan Mantri Suraksha Bima Yojana.
To avail benefits under Pradhan Mantri Suraksha Bima Yojana, a bank account is a must. This is because, the premium that you pay under the Yojana is directly auto debited from your bank account.
Any Indian citizen between 18 and 70 years of age can enroll in Pradhan Mantri Suraksha Bima Yojana. Whether you’re single or have a family to support, a daily wage earner or an employee in a corporate office, Pradhan Mantri Suraksha Bima Yojana welcomes all into its fold. The benefits on offer make buying this insurance cover an absolute no-brainer! However, there are also certain conditions that one needs to be aware of to get the full benefits under this plan:
✓ If you attain 70 years of age, coverage under Pradhan Mantri Suraksha Bima Yojana will cease
✓ If you close your bank account or do not have sufficient bank balance to keep your policy in force
✓ Policy coverage is not determined by the number of accounts you pay premium from. Each individual is only eligible for one policy
To continue enjoying the benefits of this Policy, read on to know the rules of the game:
✓ One Person, one policy
✓ The premium amount does not vary, regardless of the date the policy is entered into
✓ Coverage is provided up to 70 years of age
✓ It is important to update your mobile no. with the bank to be issued the policy
✓ To activate auto renewal, an SMS confirmation sent to your registered mobile number is required.
✓ As the insurance partner, your personal information may be shared with Bajaj Allianz
✓ Insurance is based on utmost good faith. If any information provided to us is incorrect, we may not be able to proceed further with the policy. You may lose any premium already paid
✓ Renewal premium would be auto debited from your associated bank account at the specified renewal date
✓ If you want to cancel auto debit, let us know well before the next premium is due.
✓ Join Account Holders are also welcome to join Pradhan Mantri Suraksha Bima Yojana! All you need to do is fill the prescribed forms
Click here to download Pradhan Mantri Suraksha Bima Yojana policy wordings.
Written By : Bajaj Allianz - Updated: 20st June 2022
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