Step by step guide to file your PMSBY insurance claim

The Prime Minister of India, Shri Narendra Modi launched several affordable schemes for the general public in 2015. The focus was to launch schemes with low and affordable premium amounts. One such scheme he launched was the Pradhan Mantri Suraksha Bima Yojana; an accidental insurance scheme, that both Resident Indians and NRIs can purchase by paying a small sum of ₹12 per annum. Under the scheme, the policy holder becomes eligible for permanent partial and permanent total coverage of ₹100,000 and ₹200,000 respectively. Here is the procedure you need to follow in order to file an insurance claim.

Step by step guide to file your PMSBY insurance claim

Step 1 – Inform the police

In the event of an accident, the first thing you need to do is to inform the police. You need to lodge a First Information Report or FIR. The FIR is a crucial document in the claim process as you need to submit it when you file your insurance claim. The claim will be automatically rejected is you fail to provide a copy of the FIR, filed at the time of the accident

Step 2 – Inform the bank

Although the PMSBY policy is an accidental policy provided by the government, you need to purchase the policy from any of the participating banks. As such, the bank serves as your mediator or source of connection to the government. Once you’ve filed the FIR, you can start the claim filing process, beginning with informing the bank about the accident and your intention to file the insurance claim. This you can do, by calling the bank’s helpline. You simply need to provide basic details like your name, contact number, policy number, and the venue of the accident among other things. 

Step 3 – File the claim

As you will find in the PMSBY policy details document, you need to file the insurance claim, by filing out some paperwork. You can obtain the claim form from the bank, which you must fill in detail. Do not leave any portion of the form incomplete as it can increase the chances of your claim being rejected. Also, you should be aware of the timelines for filing the claim. Typically, the claim should be filed within 30 days from the date of the accident.

 

Step 4 – Submit the form with the documents

 

In order for the claim to be processed, you need to submit a few documents. These include the duly filed claim application form as well as a copy of the FIR provided by the police. Another crucial document required is the medical certificate issued by the hospital, highlighting the extent of the disability, or the death certificate and report of post mortem, in case the accident leads to the unfortunate death of the policy holder. The discharge certificate issued by the hospital is also necessary to file the claim.

Step 5 – Claim verification and insurance pay-out

The bank will verify the details of the insurance claim within a period of 30 to 60 days, after which the insurance amount will be paid to the nominee or the legal heir registered by the policy holder, at the time of purchasing the PMSBY scheme. Based on partial or complete disability, a sum of ₹100,000 or ₹200,000 respectively will be provided to the nominee or legal heir.

 

Final word: Although it is affordable, it is necessary that you read and understand the PMSBY scheme details before buying the policy or filing the claim. It is crucial that you follow all the steps mentioned in the policy document if you want your claim to be approved.