What does PMSBY stand for?

Q.  What does the acronym ‘PMSBY’ mean?
- Published on 17 Feb 17

a. Pradhan Mantri Suraksha Bima Yojana
b. Pradhan Mantri Surakshit Bharat Yojana
c. Pradhan Mantri Sushil Bharat Yojana
d. Pradhan Mantri Sukanya Bima Yojana

ANSWER: Pradhan Mantri Suraksha Bima Yojana
Pradhan Mantri Suraksha Bima Yojana

Policy Coverage - The scheme offers to provide you or your family a cover of up to Rs. 2 lacs in case of any mishap, resulting into death or disability of the insured.

In case of death or full disability, you or your family will get Rs. 2 lacs and in case of partial disability, you will get Rs. 1 lac.

Eligibility : Savings bank account holders aged between 18 years and 70 years are eligible to apply for this scheme

Cost : Rs. 12 per year for having an accidental death or disability cover of Rs. 2 lacs under this scheme.

Period : You will remain insured for a period of one year from June 1, 2015 to May 31, 2016.

Next year onwards as well, the risk cover period will remain to be June 1 to May 31.

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