Pradhan Mantri Suraksha Bima Yojana: Rs 12 To Be Deducted From Bank Account Before May 31

Under it, due to accidental death, the nominee gets Rs two lakh, while in case of partial disability an amount Rs one lakh is given.

All beneficiaries of Pradhan Mantri Suraksha Bima Yojana will have to be ready to pay the annual premium of Rs 12, which will soon be auto-debited from their bank accounts. The beneficiaries will be notified through SMS about the deduction of the premium amount. Under the scheme, in case of death due to accident or complete disability, the beneficiary's nominee gets Rs Two Lakh, while in case of partial disability an amount Rs One Lakh is given to the nominee. When is the premium debited? An annual premium of Rs 12 is auto debited from the account of those who have enrolled themselves under the insurance scheme. Banks inform beneficiaries about this through SMS, which is normally done between May 25 and May 31 every year.