Pradhan Mantri Suraksha Bima Yojana (PMSBY)
PMSBY provides affordable accidental insurance protection with simple enrolment and automatic renewal through your TMB Savings Account
Government-backed accidental insurance scheme
Annual premium of only Rs 20
Coverage up to Rs 2 lakhs as per scheme rules
Easy auto-debit enrolment and renewal
Overview
Government of India has announced a scheme namely "Pradhan Mantri Suraksha Bima Yojana" in order to facilitate Accidental insurance cover (Accidental Death & Disability) to all the masses
Read more
Product Highlights
The scheme offers accidental death and disability coverage of up to Rs 2 lakhs, depending on the nature of the accident as defined by scheme guidelines. Premiums are auto-debited annually from the customer’s TMB Savings Account, ensuring uninterrupted protection
Features and Benefits
Subscribers receive financial coverage for accidental death or disability, based on the scheme's defined benefit structure. The annual premium of Rs 20 makes the scheme accessible and suitable for individuals seeking essential accident insurance without high costs
Eligibility
Lesser premium of ₹ 20.00 per annum. ₹ 2.00 Lakhs coverage for accidental death / total and irrecoverable loss of both eyes (or) loss of use of both hands or feet (or) loss of sight of one eye
Read more
Terms of Risk Coverage
| . A person has to opt for the scheme every year or else he/she can also prefer to give a long-term option of continuing, in which case his account will be auto-debited every year by the bank. |
| . Insurance cover commences immediately on debit of premium to the account. |
| . Simple payment mechanism: the premium can be debited from customers account and standing instructions can be given for renewal. |
| . Nomination facility is compulsory. |
| . Simple claim settlement process. |
| . The insurance cover is provided under the Group Insurance Scheme of UIIC. |
| . Since the Bank is the Master Policy Holder, the subscribers may not be provided with separate policy. An acknowledgement may be given as a acknowledgement slip cum Certificate of Insurance. |
Documents & Download
Find and download the required documents across all categories in one place
Frequently Asked Questions
Find answers to the most common questions about eligibility, benefits, and
features of the TMB Royal Savings Bank Account
