Saturday, December 25, 2021

Complimentary insurance covers available on HDFC Bank | State Bank of India | ICICI Bank | Axis Bank | Kotak Mahindra Bank | IndusInd Bank | Yes Bank | Punjab National Bank | Bank Of Baroda | Bank Of India | and all other banks



Personal Accidental Insurance (Death) Non Air: This insurance covering the Debit Cardholder for non-air accidental death only, to the range as connected on the type of Debit Card variation held. This Insurance Cover becomes operational when the Card is used at least once on any channel, viz ATM/PoS/eCom throughout the last 90 days (Financial) from the date of accident


(Financial transaction) from the date of accident, subject to a order that the air ticket for that air travel must have been obtain by using the Debit Card


How to claim the insurance cover?

In sample of any declare, the claimant should inform ICICI Lombard call centre on 1800 2666, within 15 days of loss or damage.

ICICI Lombard will tell the claimant about the documents necessary for processing the claim.

The claimant should forward the needed documents to ICICI Lombard.

The Customer Service branch of ICICI Lombard will determine on the applicability of any claim as per the Terms & Conditions of the policy, after receiving the documents and investigation report, if applicable.

On admissibility, ICICI Lombard will make the payment to the recipient. The payment must be made within 15 working days of receipt of all complete documents, in case an investigation is not required.


Bank of India Debit Card

Debit card has remade the face of Indian economy, it is designate as the plastic card. It has been a key organizer for cashless settlement in the economy. Debit cards have authorize the cardholder to lighten the wallet. Debit cards are provide by banks in relationship with Visa or Mastercard. They are issued as part of the account opening kit to the account holder. There are different types of debit cards provide by the bank, controlled on the limit and suitability, an eligible account holder may choose the right debit card.

What is a debit card?

A debit card is also introduce to as plastic card or check card. It can be used at various points of sale involve petrol pump, merchant outlets (online and offline), payment of utility bills etc., It is similar to that of credit card, however, in credit card, the bank authorize the card holder to use the card at points of sale without actually holding as much cash in the account with the bank, it is an order where the bank allows the cardholder to strike the card at outlets by offering a short-term credit or loan. The card holder will be necessary to make the payment in the following billing cycle. The debit card is like a pre-paid card, wherefore the card is associate to savings bank account, the card can be swiped based on fund availability in the savings bank accounts.

Some banks now offer insurance collection with the plain humble fixed deposit (FD). HDFC Bank has rotate out a new FD plan known as ‘SureCover’ in the month of March 2021. The FD plan comes with a completed life insurance cover. The insurance policy will be present by HDFC Life Insurance. HDFC Bank will accept the instalment cost of the term life cover for one year, on deposits of Rs 2 lakh to Rs 10 lakh.

ICICI Bank and DCB Bank previously offer similar FD plan. Should you take the bait of investing in such FD plan with additional life insurance cover?

All investing between Rs 2 lakh and Rs 10 lakh, generate in HDFC Bank’s SureCover FD plan for occupation of more than a year and up to 10 years will come with a glowing term life insurance cover. The life cover is euqal to the FD’s principal value. The commendatory life insurance profit is only for the first year of the FD ownership and will expire after that. If during the first year of the FD, if there is an unlucky even of temporality, your nominees / beneficiaries will get a lump-sum equivalent to FD amount. You can hold only one SureCover FD at any content in time. Existing and new HDFC Bank customers can finance in this plan.

ICICI Bank provide a flat Rs 3 lakh term life cover on deposits of Rs 3 lakh or more via the ‘FD Life’ plan. The occupation of FD should be minimum two years. The supporting life insurance profit is only for the first year of the FD owenrship.

DCB Bank’s ‘Suraksha FD’ gives you a term life cover for up to Rs 50 lakh. The life cover is equal to the FD’s principal value. The investment period is necessary three years and life insurance cover is obtainable for the three-year term.

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