Almost everyone of you will use a debit card. Due to the debit card, you can withdraw your money from ATM. But few people know that most banks also provide life insurance cover on debit cards. That is, if there is an event or fraud with you, then you get an insurance cover on it.
Many bank debit cards also provide insurance in case of death of users. If the cardholder dies, his family members can also claim insurance. Different banks provide various types of insurance. Many banks have insurance up to Rs 3 crore. If you use SBI debit card, then you get a cover of 4 to 10 lakh rupees in the event of accidental death. A cover of Rs 2 to 5 lakh is available in case of death in a road accident or any other place.
ICICI Bank Rs. Provides cover of up to 3 crores
But according to the terms of different HDFC bank card, you get insurance cover ranging from Rs 5 lakh to Rs 3 crore. ICICI Bank also gives claims ranging from Rs 50 thousand to Rs 30 lakh. While Kotak Mahindra Bank also gives insurance coverage of up to Rs 50 lakh.
Do not worry if you do not get the policy number.
However, you can find that you have not received the policy number. The main reason for this is that since it is a group policy, the policy number is not available. Each account holder should go to his bank branch and get information about insurance and related terms and conditions available on the card. Apart from this, he should also get information about the nominee from the bank.
KYC is required
KYC is necessary to get insurance. That is, the person using the debit card should go to his bank branch and submit KYC and other documents, if not, immediately. Customer’s death certificate and KYC are required to claim personal accident insurance.
