Pradhan Mantri Suraksha Bima Yojana

Eligibility
The Scheme will be available to people in the age group 18 to 70 years with a savings bank account who give their consent to join and enable auto-debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis.

Policy Period
One year period stretching from 1st June to 31st May

Premium
In light of the fact that a large proportion of the population have no accidental insurance cover, the Pradhan Mantri Suraksha Bima Yojana (PMSBY) is aimed at covering the uncovered population at an highly affordable premium of just Rs.20 per year

Enrolment Mode
An account holder can enrol for PMSBY by any of the following methods

• Visiting the branch
• Visiting the BC
• Through bob World Internet (Internet Banking)

Individuals who exit the scheme at any point may re-join the scheme in future years by submitting a declaration of good health in the prescribed Performa.

Insurance Benefits
The details of insurance benefit are given below:

Annual Premium through ‘auto debit’ facility from bank account.

It is desirable to present your claim within 30 days of the accident. The customers already enrolled in the scheme should maintain sufficient balance in their account as on 31st May of every subsequent year to avoid discontinuation of insurance coverage subject to eligibility as per scheme guidelines.

• Secure yourself from accident risk, like 13.25 crore people have already done.
• Rs. 286.28 crore worth claims already settled.
• More than Rs. 5.22 crore people have secured the future of their loved ones. You can too!
• 79,485 families supported so far with claim settlements worth Rs. 1589.70 crores.

Bank of Baroda is authorized by the Insurance Regulatory and Development Authority to act as a Corporate Agent from 01/04/2012 to 31/03/2025 for procuring or soliciting business of Life insurance, General insurance & Standalone Health insurance under Registration Code CA0004". Insurance is the subject matter of solicitation. For more details on risk factors, terms and conditions please read the sales read sales brochure carefully before concluding a sale. The purchase of Insurance products by Bank of Baroda customers is purely on a voluntary basis. The insurance products are underwritten by the respective insurance company. Bank of Baroda does not perform any insurance e-commerce activity on its website. The contract of insurance is between the insurer and the insured; and not between the Bank and the Insured.

If the insurance cover is ceased due to any technical reasons such as the insufficient balance on due date or due to any administrative issues, the same can be reinstated on receipt of full annual premium and a satisfactory statement of good health. During this period, the risk cover will be suspended and reinstatement of risk cover will be at the sole discretion of UC/insurance company concerned.

Exclusions and other details can be viewed in Master Policy