look news india
New Delhi: Today, about 80 percent of the people (adults) in the country have at least one bank account. The government transfers the benefits of many of its schemes directly to the beneficiary's account. This is the reason why bank accounts were opened on a large scale under the Pradhan Mantri Jan Dhan Yojana.
With more bank accounts being opened, ATM usage has also increased significantly. To make a traditional bank withdrawal, you will need to fill out a form. Many times one has to stand in the queue for hours. But, in ATM you can withdraw money immediately by just entering the PIN.
This facility is not available in ATM. In this you also get insurance and you do not have to pay any premium for it. You get accident insurance and life insurance as soon as the ATM card is issued by the bank.
How to get insurance benefits?
If you have used a bank's ATM card for 45 days, you become eligible for free insurance. You can then make an insurance claim in the event of an accident or untimely death. The sum insured is determined as per the category of the card.
Banks issue cards like Classic, Silver, Gold and Platinum. The sum insured is calculated accordingly. Insurance coverage available is Rs 1 lakh on Classic Card, Rs 2 lakh on Platinum Card, Rs 50 thousand on Ordinary MasterCard, Rs 5 lakh on Platinum MasterCard and Rs 1.5 lakh to Rs 2 lakh on Visa Card. Whereas insurance of Rs 1 to 2 lakh is available on RuPay card.
Under what circumstances is insurance available?
If an ATM cardholder gets disabled in one arm or leg due to an accident, an insurance claim is available. Along with this, loss of both hands or legs is also covered. Along with this, there is also an insurance cover of up to Rs 5 lakh in case of untimely death.
What are the terms and conditions?
To avail ATM card insurance claim, you have to keep doing transactions within a certain period. This period may vary according to the bank. Generally, banks require at least one debit card transaction within 30 to 90 days.
Documents required for claim
To claim the accident insurance available on the ATM card, a copy of the FIR and medical expenditure certificate have to be submitted, while in case of death, the cardholder's nominee has to submit the death certificate, copy of the FIR and dependent's certificate. will be. Certificate will have to be submitted. After following this process the insurance amount is received.
