PMSBY explained: the 20 rupee accident cover, benefits and claim

Pradhan Mantri Suraksha Bima Yojana, or PMSBY, is the government’s accident cover. For 20 rupees a year, it pays up to 2 lakh rupees if an accident kills or permanently disables you. It covers accidents only, so it is a companion to life cover, not a replacement.

General insurers run it through banks and post offices. The government’s 9 May 2026 release says more than 58.09 crore people have enrolled, and 3,667.52 crore rupees has been paid on 1,84,662 claims (as on 29 April 2026).

Premium, age limits and cover year

• Premium. 20 rupees a year, auto-debited in one go. It has been 20 rupees since 1 June 2022, when it rose from 12 rupees in the first revision since 2015.
• Who can join. Savings account holders aged 18 to 70, through one bank or post office account only.
• Cover year. 1 June to 31 May. If the debit happens after 1 June, cover starts from the date of the debit. Joining mid-year costs the full 20 rupees.
• When cover ends. At 70, or if the account closes or lacks balance on the renewal date.

An illustration. 20 rupees a year is about 1.67 rupees a month, or 10 paise a year for each 1,000 rupees of cover. Even a small balance left in the account in May keeps it running.

What PMSBY pays

The rules define an accident as a sudden, unforeseen and involuntary event caused by external, violent and visible means. Partial disability that does not meet the table above gets nothing. Hospital treatment is not reimbursed; that is the job of health insurance or, for eligible families, Ayushman Bharat PM-JAY.

PMSBY and PMJJBY together

Both schemes pay on top of any other insurance you hold. So an accidental death can trigger 2 lakh rupees from PMSBY and another 2 lakh rupees from PMJJBY, if you hold both. A Jan Dhan account can carry both, plus its own RuPay card accident cover.

How to enrol and claim

Enrol. Fill the form at your branch, a bank business correspondent or the post office, or enrol through your bank’s net banking or the Jan Suraksha portal. Name a nominee. You get an acknowledgement slip that works as your certificate of insurance.

Claim. Go to the branch or post office that holds the account. Report road, rail and similar accidents, drowning and crimes to the police; for a snake bite or a fall, get a hospital record straight away. Under government instructions, the bank forwards the claim within seven days and the insurer settles within seven days of getting the papers. Only one claim is paid, even if you were wrongly enrolled through two banks.

Did you know? Nearly half of PMSBY members are women. The government’s May 2026 release counts 27.45 crore female enrolments out of more than 58.09 crore, and 19.30 crore enrolments from Jan Dhan account holders.

The takeaway. For 20 rupees, PMSBY is one of the cheapest safety nets around, but it is narrow: accidents only, and no hospital bills. Pair it with life cover and health cover. For how much life cover a family really needs, see how much term cover you need.

More to read: PMJJBY explained, Jan Dhan account benefits, and the health insurance guide.