Eligibility: Available to people in age group 18 to 70 years with bank account.

Premium:  ₹ 12 per annum.

Payment Mode: The premium will be directly auto-debited by the bank from the subscribers account. This is the only mode available.

Risk Coverage:  For accidental death and full disability - ₹ 2 Lakh and for partial disability - ₹ 1 Lakh.

Eligibility: Any person having a bank account and Aadhaar number linked to the bank account can give a simple form to the bank every year before 1st of June in order to join the scheme.  Name of nominee to be given in the form.

Terms of Risk Coverage: A person has to opt for the scheme every year. He 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.

Who will implement this Scheme?: The scheme will be offered by all Public Sector General Insurance Companies and all other insurers who are willing to join the scheme and tie-up with banks for this purpose.

Government Contribution:

(i)   Various Ministries can co-contribute premium for various categories of their beneficiaries from their budget or from Public Welfare Fund created in this budget from unclaimed money. This will be decided separately during the year.

(ii)   Common Publicity Expenditure will be borne by the Government.

Accidental insurance eligibility: auto-debit premium scheme for bank-account holders with annual opt-in and nominee provision. Pradhan Mantri Suraksha Bima Yojana provides accidental death and disability insurance to eligible adult bank account holders with Aadhaar linkage; enrollment requires a simple annual form with nominee details and the only premium collection method is direct bank auto-debit. Subscribers must opt in each year or give a standing instruction for automatic renewal. Coverage is tiered for total/full disability and partial disability. Public sector and other insurers participating through bank tie-ups will implement the scheme, and the Government may co-contribute premiums for specified beneficiaries and fund common publicity.