About the Scheme
PMSBY is an accidental insurance scheme offering ₹2 lakh for accidental death/permanent disability at just ₹20/year premium. Launched June 1, 2015. 51.06 crore cumulative enrollments (Apr 2025). ₹3,121 crore paid in claims for 1.57 lakh cases. World's largest accident insurance scheme.
Target Beneficiaries: 51.06 crore cumulative enrollments (Apr 2025); ₹3,121.02 crore paid for 1.57 lakh claims; world's largest accident insurance scheme
Key Features
- ₹2 lakh cover for accidental death or total permanent disability; ₹1 lakh for partial permanent disability
- Annual premium: ₹20/year only (auto-debited June 1 each year)
- 51.06 crore cumulative enrollments (Apr 2025) — world's largest accident insurance scheme
- ₹3,121.02 crore paid in 1.57 lakh claims by Apr 2025
- Eligibility: 18-70 years; bank/post office account; renewed annually
- Part of Jan Suraksha trinity with PMJJBY (life) and APY (pension)
- No exclusion for pre-existing conditions; covers all accident types