You are eligible for up to Rs.10Lakh against your ATM card/Bank Account

You are eligible for up to Rs.10Lakh against your ATM card/Bank Account

Banks accord insurance to ATM card owners without any fee, yes that is true. Almost all banks whether private or public provide accidental hospitalisation cover or accidental death cover to their customers having an operation bank account.

The range of insurance provided under the criteria starts from Rs 50000 to Rs 10 lakh, depending upon the customer to customer bank dealings. People are reluctant to know about the cover provided by the banks and neither banks provide any information to their customers. However, most of the banks are offering cover on credit cards also. If the bank account is inoperative, then your cover may get withdrawn by the bank.

Kunal Kumar chief manager of Corporation bank said “ Our bank provides accidental insurance claim to Super card holder upto Rs 5lah, Signature card holder upto Rs 10lakh and Rupay card holder upto Rs 1 lakh, anyone who holds these cards can claim their insurance , but his card should be active and he must have done transactions.”

How to claim Insurance

Immediately inform the police after the accident and highlight everything properly. In case of hospitalisation, all the medical reports have to be submitted.

If it is a case of accidental death these things will be required to deposit: the post-mortem report, police panchnama, death certificate, valid driving license. Bank must be informed that the card holder has made transaction in last 90 days.