The Indian Prime Minister Narendra Modi introduced several affordable schemes for the public in 2015. The focus was to launch schemes with a low premium amount. One such plan he launched was the Pradhan Mantri Suraksha Bima Yojana. It is an accidental insurance scheme which both the Indian residents and NRIs can buy by paying a sum of INR 12 yearly. Under the plan, the policyholder becomes eligible for the permanent partial and permanent total coverage of INR 1 to 2 lakh, respectively.
Following is the process for filing the insurance claim under PMSBY –
Inform the police
If an accident occurs, the first thing you need to do is inform the police. You need to lodge an FIR. The FIR is an essential document in the claim process as you need to submit them when you file the insurance claim. The claim gets automatically rejected if you fail to produce a copy of the FIR, filed at the time of the accident.
Inform the bank
Although the PMSBY policy is an accident plan offered by the Government, you need to buy them from any of the participating banks. As such, the bank serves as you mediator or source of connection to the Government. Once you have filed the FIR, you can start the claiming process, beginning by informing the bank about the accident and your intention to file the claim. For this purpose, you need to call the bank’s customer care service. You need to mention the necessary details like name, contact number, policy number, and the accident venue.
File the claim
As you find out in the PMSBY document, you need to file the insurance claim by filling out a few paperwork. You can obtain the claim from the bank which you must fill thoroughly. Do not leave any portion of the form incomplete as it increases the chances of the claim getting rejected. Also, be aware of the timelines for filing the claim. Usually, the claim must get filed within 30 days from the date of the accident.
Submit the form with documents
For the claims to get processed, you must submit the relevant documents. These include the duly filed claim application form as well as the FIR copy offered by the police. Another essential documentation is the medical certificate issued by the hospital, highlighting the extent of disability or death certificate and the post-mortem report if the accident leads to the unfortunate death of the policyholder. The discharge certificate issued by the hospital is essential as well.
Claim verification and pay-out
The bank verifies the details of the insurance within a period of 30 to 60 days post which the insurance amount gets paid to the nominee or the registered legal heir while buying the Pradhan Mantri Suraksha Bima Yojana. Based on the partial or complete disability, a sum of INR 1 to 2 lakh gets offered as pay-out.
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