ATM Card Insurance: Having an ATM card is the need of the hour. ATM cards have reduced people’s bank trips. ATMs are now being preferred for withdrawing money. ATM-Debit Card (ATM-Debit Card) has made it possible to transact large amounts of money even when people do not have money in their pockets. There is another advantage of an ATM card. Although very few people know about this. You get insurance of Rs 5 lakh on ATM card. There is not much thought about this in India.
You also get complimentary insurance cover with public bank and private bank ATM cards. Most people do not claim insurance. However, if you claim at the right time, you can get an insurance benefit of up to five lakhs.
Which customers can benefit?
If you want to avail the complimentary insurance cover, you must use the ATM card for at least 45 days. You get the benefit of accident insurance on the ATM card of the bank. You do not have to pay any premium for the insurance. The bank pays this premium. Most of the people are not aware of this. Even the bank does not give much information about this. Depending on the category of the card you have, you get an insurance cover.
>> How much insurance cover on which card?
> Rupay card available on Pradhan Mantri Jan Dhan Account – Insurance of one to two lakh rupees
> Normal MasterCard (MasterCard) – Insurance of 50 thousand rupees
> Classic Card – Insurance of Rs 1 lakh
> Visa Card (Visa Card) – Insurance from one lakh 50 thousand to two lakh rupees
> Platinum Card (Platinum Card) – Insurance of Rs 2 lakh
> Platinum MasterCard (Platinum MasterCard) – Insurance cover of Rs 5 lakh
>> Accidental Death Insurance
In case the ATM card holder dies in an accident, the heir to his bank account can claim the accident insurance given on the ATM card. For that, in case of death of the cardholder, within 45 days, the bank will have to claim the insurance. To claim the policy, the heir can claim the insurance by submitting other documents including death certificate of the deceased concerned, copy of FIR etc.
