The Pradhan Mantri Suraksha Bima Yojana (PMSBY) has reached a significant milestone, completing ten years of offering affordable accident insurance to millions of Indians.
Launched in 2015, this government-backed initiative ensures financial security to economically vulnerable citizens with an annual premium of just ₹20.
Since its inception, PMSBY has enrolled over 50.54 crore beneficiaries, providing coverage for accidental death and disability. As of April 2025, insurance claims worth ₹2,728.85 crore have been disbursed, offering crucial financial relief to affected families.
One such beneficiary, Jyoti Nihal, a young mother from Madhya Pradesh, found solace in PMSBY after her husband’s tragic accident. The ₹2 lakh payout helped her clear debts, support her children’s education, and rebuild her life.
The scheme, administered through banks and insurance firms, ensures automatic renewal via auto-debit, making it accessible to all eligible citizens aged 18-70 years. The government continues to expand awareness through state-level campaigns, banking correspondents, and financial literacy drives.
As PMSBY celebrates its decade-long journey, its impact on financial inclusion and social security remains unparalleled. This initiative has proven that a small investment can make a huge difference, securing millions against life’s uncertainties.
