IDBI Bank Subscription Form – Pradhan Mantri Suraksha Bima Yojna (PMSBY)
IDBI Bank Subscription Form – Pradhan Mantri Suraksha Bima Yojna (PMSBY) from Download
Based on the provided document, here are the key points of the IDBI Bank Consent-cum-Declaration Form for the Pradhan Mantri Suraksha Bima Yojana (PMSBY), administered in partnership with Bajaj Allianz General Insurance (PMSBY_subs… p. 1):
📋 Form Purpose & Layout
- Enrollment Intent: This form serves as an official request and consent document for individual savings bank account holders to join the PMSBY accidental insurance scheme (PMSBY_subs… p. 1).
- Integrated Insurance Receipt: The bottom section functions as an “Acknowledgement Cum Certificate of Insurance” which is filled out, stamped, and signed by a bank official to verify active enrollment (PMSBY_subs… p. 1).
✍️ Core Applicant Information
- Identity Tracking: Captures essential personal information including the full name, detailed physical address, date of birth, email ID, contact number, and Aadhaar number (PMSBY_subs… p. 1).
- Disability Declaration: Includes a specific field to log whether the applicant is currently suffering from any pre-existing physical disabilities (PMSBY_subs… p. 1).
- Nominee Assignment: Requires designating a beneficiary along with their address and relationship (PMSBY_subs… p. 1). If the nominee is a minor, a legal adult guardian must be officially assigned to receive benefits (PMSBY_subs… p. 1).
💰 Premium & Auto-Debit Rules
- Mandatory Authorization: Signing the form gives explicit permission to IDBI Bank to immediately execute an auto-debit for the initial premium, followed by recurring automated annual debits on or before May 31st (PMSBY_subs… p. 1).
- Listed Premium: While this historical form template records a base premium of ₹12 plus service tax (PMSBY_subs… p. 1), please note that the current statutory annual premium mandated by the government is ₹20. [1]
⚖️ Critical Scheme Rules & Benefits
- Age Windows: The entry and operational cover age limit is broader than life insurance, spanning individuals between 18 and 70 years old.
- Accidental Coverage Plan: The policy explicitly offers risk cover benefits up to ₹2,00,000 for accidental death or total permanent disability, and ₹1,00,000 for permanent partial disability.
- Single Account Enforcement: An individual is restricted to joining PMSBY via one savings bank account only. If multiple enrollments are discovered across different accounts or banks, any extra premium paid is forfeited, and claims will be denied (PMSBY_subs… p. 1).
- Policy Lifecycle & Renewal: The policy runs for a fixed one-year cycle from June 1st to May 31st and requires annual renewal.
- Termination Events: Coverage automatically finishes on the annual renewal date after the subscriber turns 70, closes the account, or leaves the account underfunded. [2, 3, 4, 5]
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IDBI Bank Subscription Form – Pradhan Mantri Jeevanjyoti Bima Yojana (PMJJBY) from Download
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