Life insurance and health insurance are really important in life. Many people are getting these insurances to protect themselves. However, people in villages don’t understand them well. Health insurance is even more important than life insurance. People get insurance to help their families financially if something unexpected happens. Rich people get insurance easily, but it’s hard for poor people. The government offers a solution called Pradhanmantri Suraksha Bima Yojana (PMSBY). Let’s learn about it.
What is PMSBY?
PMSBY is a plan from the government. By paying just Rs. 20, you can get insurance coverage of Rs. 2 lakh. If the policyholder dies or becomes disabled due to an accident, the family will receive Rs. 2 lakh. Anyone between 18 and 70 years old can get this insurance. You pay Rs. 20 every year. The money is taken from your bank account. You can sign up at your bank or use a mobile app.
Start and Changes
This plan began in 2015. At first, the premium was Rs. 12, but from June 1, 2022, it became Rs. 20. The government started this plan to help low-income people in India get life insurance. People can apply at a bank branch, or they can get help from Bank Mitra services. All banks, public and private, offer this insurance. The government made sure everyone can use this service. Insurance agents can also help you sign up.
Conclusion
Insurance is vital to keep families safe. Pradhan Mantri Suraksha Bima Yojana lets people get insurance for a small amount of money. It’s a way for the government to help everyone, especially those with less money. If you want this insurance, go to a bank branch, use Bank Mitra, or ask an insurance agent.
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