A case study with overview of Pradhan Mantri Suraksha Bima Yojana – A Scheme of Pradhan Mantri Jan Dhan Yojana

The study finds that Pradhan Mantri Suraksha Bima Yojana is attractive due to its flexibility, throughout easy and clear process, easy claim process, highly reliable and economical personal accident insurance scheme. But due to its limited amount of coverage, existing competition and lack of investor’s interest, act as barriers in the success road of the scheme. Pradhan Mantri Suraksha Bima Yojana was introduced on 1st June 2015, under the promising Pradhan Mantri Jan Dhan Yojana with the aim to provide financial support through cheaper term insurance to all the citizen of India with motto of “Jan-Dhan se Jan Surakhsha”. Accidental insurance is a type of general insurance under which insurance coverage is provided for fixed term (period) and amount, on the payment of the pre-decide premium. This fixed amount is only paid in case of happening of any unfortunate accident only. The study is based on secondary data collected from different websites and IRDA Journals.