Life Insurance: You hardly know about this that you get insurance of up to Rs 5 lakh on your ATM card. In any accident, you can claim insurance on death or disability. Â
New Delhi: You are hardly aware of this that you get insurance of up to Rs 5 lakh on your ATM card. In any accident, you can claim insurance on death or disability.
Today, ATM cards are issued to the account holders if they have an account with the bank. Apart from cash withdrawal and online transactions, you can also avail many benefits from the ATM card. You can avail insurance benefits of up to Rs 5 lakh on this ATM card, for this, let us know what you have to do:
This condition is necessary to get insurance
The benefit of insurance on ATM card is available only to those people who have used the card for at least 45 days. Any government or non-government bank customer can take advantage of this facility.
This insurance can be claimed by the ATM card holder in case of death due to an accident. If the person becomes disabled in the accident, even then an insurance claim of up to Rs 1 lakh can be made. The amount of insurance also varies according to different ATM cards, which you can claim.
Know how much coverage is available on which card
- Normal Mastercard – Rs 50,000
- Platinum Mastercard – Rs 5 lakh
- Classic Card – Rs 1 lakh
- Platinum Card – Rs 2 lakh
- Visa Card – Rs 1.5 Insurance of Rs 2 lakh
On the other hand, on the RuPay Card received under the Pradhan Mantri Jan Dhan account, the account holder gets insurance of Rs 1 to 2 lakh.
In different categories, the ATM card holder can get the benefit of insurance up to Rs 5 lakh. If a person dies in an accident (Accidental Death Claim), then in such a situation his family can get the benefit of insurance up to 5 lakhs.
What is the process of making an insurance claim
If the person dies in an accident, then you can claim death coverage. Under this, you can claim for coverage up to Rs 5 lakh.
Apart from this, if the person becomes disabled in the accident, then he can claim for insurance up to Rs 1 lakh. To claim death insurance, you have to submit the death certificate and necessary documents related to the dependent in the bank.
