<Tr> <Td_colspan="2"> Status: Active </Td> </Tr> <P> Pradhan Mantri Suraksha Bima Yojana is a government - backed accident insurance scheme in India . It was originally mentioned in the 2015 Budget speech by Finance Minister Arun Jaitley in February 2015 . It was formally launched by Prime Minister Narendra Modi on 9 May in Kolkata . As of May 2015, only 20% of India's population has any kind of insurance, this scheme aims to increase the number . </P> <P> Pradhan Mantri Suraksha Bima Yojana is available to people between 18 and 70 years of age with bank accounts . It has an annual premium of ₹ 12 (19 ¢ US) exclusive of taxes . The Service tax is exempted on Pradhan Mantri Suraksha Bima Yojana . The amount will be automatically debited from the account . The accident insurance scheme will have one year cover from June 1 to May 31 and would be offered through banks and administered through public sector general insurance companies . </P> <P> In case of accidental death or full disability, the payment to the nominee will be ₹ 2 lakh (US $3,100) and in case of partial Permanent disability ₹ 1 lakh (US $1,600). Full disability has been defined as loss of use in both eyes, hands or feet . Partial Permanent disability has been defined as loss of use in one eye, hand or foot . </P>

What is the premium amount for the pradhan mantri suraksha bima yojana