PMSBY Calculator India — Free (2026)
Calculate your PMSBY premium and accident cover under Pradhan Mantri Suraksha Bima Yojana, check eligibility, and compare it with accident insurance.
PMSBY Details
Eligible for PMSBY
You can enroll until age 70. Policy coverage continues until age 70.
PMSBY BenefitsGovt of India Scheme
Annual Premium
₹20
Accident Death Cover
₹2,00,000
Disability Cover
₹1,00,000
Total Premium (till 70)
₹800
Over 40 years
Scheme Breakdown
PMSBY vs Personal Accident Insurance
PMSBY is approximately 33x cheaper than a typical personal accident policy for comparable coverage.
Cumulative Premium Over Years
Comparison by Entry Age
| Entry Age | Years Till 70 | Total Premium | Death Cover | Disability Cover |
|---|---|---|---|---|
| 25 Yrs | 45 | ₹900 | ₹2,00,000 | ₹1,00,000 |
| 35 Yrs | 35 | ₹700 | ₹2,00,000 | ₹1,00,000 |
| 45 Yrs | 25 | ₹500 | ₹2,00,000 | ₹1,00,000 |
| 55 Yrs | 15 | ₹300 | ₹2,00,000 | ₹1,00,000 |
| 65 Yrs | 5 | ₹100 | ₹2,00,000 | ₹1,00,000 |
Eligibility & Coverage Details
Eligibility Criteria
Age 18 - 70 Years
Any Indian resident in this age group can enroll.
Bank Account Required
Premium is auto-debited from your savings bank account.
One Year Coverage
Coverage is for one year from 1st June to 31st May. Auto-renewed if balance available.
What is Covered
Death due to Accident
₹2,00,000 paid to nominee on death due to accident.
Total Disability
₹2,00,000 for irrecoverable and total loss of both eyes or both limbs.
Partial Disability
₹1,00,000 for irrecoverable and total loss of one eye or one limb.
About this calculator
Comprehensive Guide to PMSBY (Pradhan Mantri Suraksha Bima Yojana)
How to Use the PMSBY Calculator | Pradhan Mantri Suraksha Bima Yojana
Follow these simple steps to calculate your figures accurately:
- Primary Input Value (₹): Enter the core financial base amount relevant for PMSBY | Pradhan Mantri Suraksha Bima Yojana in Indian Rupees.
- Applicable Percentage / Rate (% p.a.): Specify the statutory rate, interest rate, or growth rate percentage.
- Tenure / Duration: Select the time horizon in years or months.
- Tax / Category Options: Choose the applicable tax regime, tax slab, or entity classification.
- View Instant Results: Inspect the detailed summary card, breakdown chart, and year-wise schedule generated instantly.
The PMSBY Premium & Benefit Formulas
Annual Premium = Rs 20 (Deducted via auto-debit annually between May 25 and May 31)
Accidental Death Payout = Rs 2,00,000
Total Permanent Disability Payout = Rs 2,00,000 (Loss of both eyes, both hands, or both feet)
Partial Permanent Disability Payout = Rs 1,00,000 (Loss of sight in one eye or loss of one hand/foot)
Practical PMSBY Calculation Examples
Example 1: Annual Auto-Debit Renewal
A 28-year-old worker enrolls in PMSBY linked to their savings bank account.
- Annual Premium Deducted: ₹20 (auto-debited in May)
- Accidental Insurance Cover Period: June 1 to May 31
- Death / Total Disability Benefit: ₹2,00,000
- Partial Disability Benefit: ₹1,00,000
PMSBY Benefit Schedule & Eligibility Matrix
| Event / Injury Type | Insurance Claim Benefit Payout | Age Eligibility Limits |
|---|---|---|
| Accidental Death | ₹2,00,000 | 18 to 70 Years |
| Total Permanent Disability (Loss of both eyes/limbs) | ₹2,00,000 | 18 to 70 Years |
| Partial Permanent Disability (Loss of one eye/limb) | ₹1,00,000 | 18 to 70 Years |
| Natural Death / Illness | ₹0 (Not Covered by PMSBY) | N/A |
Practical Example: PMSBY | Pradhan Mantri Suraksha Bima Yojana Calculation
Suppose a user in India evaluates a standard financial transaction for PMSBY | Pradhan Mantri Suraksha Bima Yojana:
- Base Financial Value: ₹5,00,000
- Applicable Rate / Factor: 8.50% p.a.
- Period / Horizon: 5 Years
- Calculated Outcome: Using standard compounding/amortization formulas, the total projected output equals ₹7,51,830, representing a net yield/cost value tailored to current Indian tax and statutory guidelines.
Common Pmsby Calculator Mistakes to Avoid
- Confusing PMSBY (Accidental Death & Disability) with PMJJBY (Life Insurance): Expecting Pradhan Mantri Suraksha Bima Yojana (PMSBY) to pay claims for natural death, illness, or medical hospitalization expenses.
- Failing to Maintain Auto-Debit Savings Account Balance for the Annual ₹20 Premium: Missing the May 31st auto-debit deduction date for the ₹20 annual premium, resulting in immediate policy cancellation.
- Enrolling Beyond the Age 70 Termination Threshold: Attempting to maintain PMSBY coverage after reaching age 70, when policy cover automatically terminates at age 70.
- Misunderstanding Partial vs Total Permanent Disability Benefit Tiers: Expecting full ₹2 Lakh payout for single-eye or single-hand loss (which receives ₹1 Lakh partial disability benefit) instead of total irrecoverable loss of both eyes/limbs (₹2 Lakhs).
- Attempting Multiple PMSBY Claims Across Multiple Bank Accounts: Submitting claims across separate bank accounts, ignoring that maximum payout is capped at ₹2 Lakhs per individual.
- Delaying Accident Claim FIR & Hospital Documentation Submission: Submitting insurance claims without formal police FIR, post-mortem reports, or disability certificates within prescribed timeframes.
Frequently Asked Questions
What does PMSBY cover and what are the benefit amounts?
PMSBY provides ₹2 lakh in the event of accidental death or total and irrecoverable loss of both eyes or both hands/feet. For total and irrecoverable loss of one eye or one hand/foot, the benefit is ₹1 lakh. It covers accidents only — it does not pay out for death due to illness.
Who is eligible for PMSBY?
Any savings bank account holder between the ages of 18 and 70 years can enrol by authorising auto-debit of the annual premium from their account. Multiple accounts in different banks allow multiple enrolments, but the combined benefit under all policies is capped at the scheme limit.
How does the PMSBY Calculator help me?
The calculator helps you understand the total benefit you are entitled to under PMSBY and compare it against your overall accidental insurance needs. It can illustrate how PMSBY can complement other insurance policies and highlight any coverage gap that may need to be filled with a personal accident policy.
How and when is the PMSBY premium deducted?
The premium is auto-debited from your linked savings account annually, typically in May, covering the period from 1 June to 31 May. If the debit fails due to insufficient funds and is not corrected, the policy lapses; reinstatement requires paying any outstanding premium and may be subject to the insurer's conditions.
Can I hold both PMSBY and PMJJBY at the same time?
Yes, and it is recommended. PMSBY covers accidental death and disability while PMJJBY covers death from any cause. Together, they provide a comprehensive low-cost safety net. The combined annual premium for both schemes is modest, making them accessible for a wide range of income levels.
Does PMSBY cover illness or natural death?
No, PMSBY covers accidental death and disability only. For natural death coverage, you need PMJJBY or a private term plan.
What is considered a 'permanent disability' under PMSBY?
Permanent total disability is loss or loss of function of both eyes, both hands, both feet, or one hand and one foot due to accident. Partial disability (one eye, one hand) covers ₹50,000-₹100,000 depending on plan version.
Can I claim both accidental death and disability benefits?
No, you receive either death benefit OR disability benefit, whichever applies. If you die from an accident, heirs get ₹2L (not both). If you become permanently disabled, you get ₹1L (one-time).
What if I die in a car accident due to negligence or rash driving?
Intentional acts are excluded. However, accidental death during normal negligence (speeding, without seatbelt) may be covered. Check specific policy terms.
Is PMSBY coverage available worldwide?
No, PMSBY covers accidents within India. International accidents may or may not be covered - check with your insurer. Most policies exclude foreign travel.
Can I update my nominee after enrollment?
Yes, visit your bank or log into PMSBY portal to update nominee details anytime before a claim arises.
What happens if premium is not deducted due to insufficient balance?
Coverage lapses immediately. You have 30 days to reactivate by depositing arrears. After 30 days, new enrollment is required (possible scrutiny).
Is PMSBY better than private accident insurance?
For cost and basic coverage, yes. However, private insurance offers higher amounts, flexibility, and coverage worldwide. PMSBY is best as a basic, affordable addition to comprehensive insurance.
Conclusion
Using the Pmsby Calculator provides accurate, data-backed estimates tailored to Indian financial and tax regulations, helping you optimize your financial planning.
Related Calculators
Sources & References
Related Guides
Complete Guide to SIP Investing in India 2026: How to Build Wealth with ₹500/Month
Everything you need to know about Systematic Investment Plans (SIPs) — how they work, compound interest magic, best funds, common mistakes, and how to calculate returns with our free SIP calculator.
GST Calculator Guide for Indian Businesses 2026: All Slabs, IGST, CGST & SGST Explained
Complete GST guide for 2026: how to calculate GST, understanding 5%, 12%, 18%, 28% slabs, IGST vs CGST/SGST, input tax credit, HSN codes, and free GST calculator.
Tax & Regional Disclaimer
Tax laws, social security contribution tiers, and statutory withholding rules vary by jurisdiction and change periodically. Calculated figures are estimates based on standard statutory rates. Please verify results with a licensed tax advisor or official regional tax authority before filing taxes.
Comments
Loading comments…