Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a government-run accident insurance scheme in India. It was launched by the Government of India in 2015.

Under the PMSBY scheme, the policyholder gets accidental death and disability coverage. In case of accidental death or total permanent disability, the policyholder or their nominee will receive a sum assured of Rs 2 lakhs. In case of partial permanent disability, the policyholder will receive a sum assured of Rs 1 lakh. The premium for this scheme is very low at Rs 20 per annum, and it is available to all bank account holders in the age group of 18 to 70 years.

The PMSBY scheme provides financial support to the policyholder and their family in case of accidental death or disability. The scheme has helped in increasing the insurance coverage in India, especially in the rural areas, where many people are not covered under any insurance scheme. The PMSBY scheme is an important step towards achieving financial inclusion and ensuring social security for all citizens of India.