Apart from cash withdrawal, there are some benefits of ATM card which we are not usually aware of. This is the benefit regarding the insurance available on the ATM card.
New Delhi. Whenever we open an account in the bank, we also get a debit card on that account. It helps people from online payment to cash withdrawal, but apart from cash withdrawal, there are some benefits of ATM card which we are not usually aware of. This is the benefit regarding the insurance available on the ATM card.
Let us tell you that on ATM card, customers get the benefit of insurance ranging from Rs 25 thousand to Rs 5 lakh, which is often not known to the common people. Because of this, they are not able to take advantage of this huge advantage.
Who gets the benefit Let
us tell you that only those people get the benefit of ATM card insurance, who use this ATM card for at least 45 days. This facility can be found in the ATM card of any government or non-government bank. Along with this, the benefit of insurance also depends on the category of your ATM card.
Coverage is available according to different cards
The amount of insurance is decided according to the category of ATM card. Insurance coverage is available for Rs 1 lakh on Classic card, Rs 2 lakh on Platinum card, Rs 50 thousand on normal Master card, Rs 5 lakh on Platinum Master card and Rs 1.5 to 2 lakh on Visa card. With the RuPay card available on Pradhan Mantri Jan Dhan accounts, customers get insurance coverage of Rs 1 to 2 lakh. If a person dies in an accident, then in such a situation his family can get the benefit of insurance up to 5 lakhs.
Claim like this
If an ATM card holder dies in an accident, then the nominee of the card holder will have to go to the branch of the bank where that person had an account and an application for compensation will have to be given there. After submitting the necessary documents to the bank, the nominee gets the insurance claim. Most importantly, in case of death or accident within 45 days of using the bank’s ATM card, the dependent of the concerned person can claim compensation under the insurance policy.
