Debit cards are mostly used for money transactions, bill payments and shopping. However, there are many such hidden features of this debit card which we are not aware of. Very few people have this information that you can also avail life insurance up to five lakh rupees with the help of your debit card.
Let us tell you that in today’s time, life insurance with a good cover is also very important. Although many times people are not able to take its benefit due to its expensive premium.
In today’s time, almost every bank customer has a debit card . Debit cards are mostly used for money transactions, bill payments and shopping. However, there are many such hidden features of this debit card which we are not aware of. Very few people have this information that you can also avail life insurance up to five lakh rupees with the help of your debit card.
Let us tell you that in today’s time, life insurance with a good cover is also very important. However, many times people are not able to take its benefit due to its expensive premium. But if you have a debit card then you can take advantage of it for free.
5 lakh free insurance is available on debit card
Let us tell you that on opening your savings account in any bank, you are issued a debit card. You are also given the benefit of life insurance on this debit card. According to the State Bank of India (SBI) website, Rs 5 lakh is given to the family members in case of death in any accident. However, the amount of insurance also depends on the type of debit card.
How much does the insurance amount get?
If you have a classic debit card, then you will be given insurance up to Rs 1 lakh. On the other hand, if you have a Platinum Debit Card, then you get an insurance cover of Rs 2 lakh and on a Platinum Master Card, you get insurance up to Rs 5 lakh. On the other hand, users are given insurance up to Rs 50,000 on the normal MasterCard.
At the same time, on Visa card also you get insurance ranging from Rs 1.5 lakh to Rs 2 lakh for free. The amount of this insurance can be claimed in case of untimely death of the card holder. For this, the card holder’s nominee has to go to the bank and apply with documents like death certificate, copy of FIR, certificate of dependent on the card holder, original copy of the certificate of the deceased.
