For Pradhan Mantri Suraksha Bima Yojana, When can the insurance on life of the member terminate ?






John John
Answered on March 28,2019

The accident cover of the member shall terminate / be restricted accordingly on any of the following events:

  • On attaining age 70 years (age neared birth day).
  • Closure of account with the Bank or insufficiency of balance to keep the insurance in force.
  • In case a member is covered through more than one account and premium is received by the insurance company inadvertently, insurance cover will be restricted to one account and the premium shall be liable to be forfeited.