Pradhan Mantri Suraksha Bima Yojana (PMSBY)

• Eligibility: Savings bank account holders between 18 years (completed) and 70 years (age nearer birthday).
• Policy Period: Policy cover shall commence from the date of debit of premium from the account. The policy expires on 31st of May each year and can be renewed thereafter on a yearly basis (1st June to 31st May).
• Premium: INR 20/- annually.
• Risk Coverage: For death and total permanent disability, the cover is INR 2 lakh while for total partial disability, the cover is INR 1 lakh.
• Termination From the Scheme May be Due to Any of the Following Reasons:
  • On attaining age 70 years (age near birthday).
  • Closure of account with the Bank.
  • Insufficiency of account balance to pay the annual premium.
• In case a member applies for more than one policy and premium is transmitted to the Insurance partner, insurance cover will be restricted to one policy only and the additional premium shall be liable to be forfeited.
• The scheme is offered through insurance partner, ICICI Lombard General Insurance Company Limited under the master policy with DCB Bank.

Click here for the Enrolment form.

Click here for the Claim form.

DCB Bank Ltd. is licensed by Insurance Regulatory and Development Authority of India – IRDAI under registration number #CA0089 for conducting its Bancassurance business. Participation by Bank’s clients in insurance products is purely on voluntary basis.