• Business News
  • Budget 2023
  • Insurance
  • Saving
  • Share Market 5Paisa
  • Loan
  • Mutual Funds
  • Investment
    • हिन्दी
    • తెలుగు
    • मराठी
    • বাংলা
    • ગુજરાતી
    • ಕನ್ನಡ
  • Close
  • Daily Show
    • 2+2=5
    • Take it Easy
    • Red Alert
    • Formula Guru
    • Money Gyan
    • Money Central
    • Money time
    • Jhatpat
  • Weekly Show
    • Money Comics
    • Economicom
    • Realty Check
    • Smile and pay
    • Money Tales
    • Spend Wise
    • Companynama
  • Budget 2023
  • Insurance
  • Savings
  • Share Market 5Paisa
  • Loan
  • Crypto coindcx
  • Investment
  • Mutual Funds
  • Real Estate
  • Tax
  • Exclusive
  • ASSOCIATE PARTNERS
  • jewellery partner
  • ASSOCIATE PARTNERS
  • jewellery partner
  • Home » News » Banking » SBI is offering free insurance of up to Rs 2 lakh; check your eligibility

SBI is offering free insurance of up to Rs 2 lakh; check your eligibility

Jan Dhan account holders with a SBI RuPay debit card will be eligible for free accidental insurance cover by the bank

  • Team Money9
  • Publish Date - June 16, 2021 / 04:54 PM IST
SBI is offering free insurance of up to Rs 2 lakh; check your eligibility

The country’s largest lender, State Bank of India (SBI), is offering some exclusive facilities for all the Jan Dhan account holders with SBI RuPay Debit Card. Such customers will now be eligible for free accidental insurance cover up to Rs 2 lakh from the bank. The benefit of this scheme will, however, be limited to only those with a Jan Dhan account.

PMJYD Scheme

The Pradhan Mantri Jan Dhan Yojna (PMJDY) was launched in 2014 with an objective to ensure access to financial services, banking savings and deposit accounts, remittance, credit, insurance and pension to the economically weaker sections of the society.

Any person can open a Jan Dhan account online or by visiting a bank by providing (KYC) documents. If you want, you can also convert your savings account into Jan Dhan. A  RuPay debit card is issued to the customer for further transactions by the bank. This can be used for various benefits including accidental death insurance, purchase protection cover and more.

SBI insurance

The insurance coverage provided by the bank will be determined as per the period in which the Jan Dhan account was opened.

Therefore, customers whose PMJDY account was opened up until August 28, 2018. will get a sum insured of up to Rs 1 lakh on the RuPay PMJDY card issued to them by SBI. While for those who got it  issued after August 28, 2018, accidental cover benefit of up to Rs 2 lakh will be available to them.

Eligibility

The Jan Dhan account holders can claim benefit of accident insurance under RuPay Debit Card only if they have done at least one successful financial or non-financial transaction both intra or inter bank within 90 days from the date of an accident. If eligible, the claim of sum assured will be paid to the account holder after submission of necessary documents.

The insurance cover will remain valid even if the accident takes place outside India. But the amount will always be paid in the Indian currency.

Documents required

1.Insurance Claim Form

2. Original or attested copy of death certificate

3. Original or attested copy of FIR or Police Report giving details of the accident

4. Original or attested copy of post mortem report along with chemical analysis or FSL report if death is due to any other cause

5. Aadhaar copy of the cardholder and the nominee

6. Declaration form duly signed by the authorized signatory and bank stamp on behalf of the card issuing bank. In this form, the contact details alongside the name and email id of the bank officer should also be given.

The claims should ideally settle within ten working days from the date of receiving the final documents. Note that, the benefits will be provided till March 31, 2022.

Download Money9 App for the latest updates on Personal Finance.

follow us

  • Facebook
  • Twitter
  • LinkedIn
  • Telegram
  • Youtube
  • Instagram

also read

  • IRDA comes up with a big plan to change the insurance industry

    IRDA comes up with a big plan to change the insurance industry

  • Credit card usage is on the rise but should you buy it?

    Credit card usage is on the rise but should you buy it?

Read more news on

  • Banking
  • free insurance
  • Jan Dhan accounts
  • PMJDY account
  • RuPay PMJDY card

Latest Video

SEE MORE
Is the government asking us to save or not to save, that's the question! | Union Budget 2023 |  Money9 English

Is the government asking us to save or not to save, that’s the question! | Union Budget 2023 | Money9 English

Updated: February 2, 2023
Dear Finance Minister, getting a job or an admission in a good college is difficult, please help

Dear Finance Minister, getting a job or an admission in a good college is difficult, please help

Updated: January 31, 2023
Dear Finance Minister, will savings schemes get a makeover this Budget 2023?

Dear Finance Minister, will savings schemes get a makeover this Budget 2023?

Updated: January 30, 2023
A pensioner airs his grievances in front of Finance Minister ahead of upcoming Union Budget 2023

A pensioner airs his grievances in front of Finance Minister ahead of upcoming Union Budget 2023

Updated: January 27, 2023
A contractual government employee writes open letter to Finance Minister giving suggestions on Budget 2023

A contractual government employee writes open letter to Finance Minister giving suggestions on Budget 2023

Updated: January 25, 2023
A disappointed homebuyer writes open letter to Finance Minister failure giving suggestions for Budget 2023

A disappointed homebuyer writes open letter to Finance Minister failure giving suggestions for Budget 2023

Updated: January 25, 2023
A gig worker writes open letter to Finance Minister ahead of Union Budget 2023

A gig worker writes open letter to Finance Minister ahead of Union Budget 2023

Updated: January 24, 2023
Small exporter writes open letter to Finance Minister giving suggestions on upcoming Union Budget 2023

Small exporter writes open letter to Finance Minister giving suggestions on upcoming Union Budget 2023

Updated: January 23, 2023
Open in App

Related

  • HDFC bank witnesses 17% growth YoY

    HDFC bank witnesses 17% growth YoY

  • SBI approves 6% stake sale in mutual fund

    SBI approves 6% stake sale in mutual fund

  • LIC can increase stakes in IndusInd Bank: RBI

    LIC can increase stakes in IndusInd Bank: RBI

  • Paytm payments is now a scheduled bank

    Paytm payments is now a scheduled bank

  • KVB cuts base and benchmark lending rates

    KVB cuts base and benchmark lending rates

  • Private lenders fare better in interest rate transmission

    Private lenders fare better in interest rate transmission

More

  • Watch the ultimate showdown of Money9 English Stocks VS FDs
    Savings

    Watch the ultimate showdown of Money9 English Stocks VS FDs

  • E-pharmacy market in the country is expected to increase at 40-45 % CAGR
    Spending

    Medicines Now Knocking At Your Door

  • How much rent has increased of residential properties after Covid-19 pandemic?
    Property

    'New' Inflation To Burn A Hole In Pocket

  • Can India’s BharOS replace Android, iOS?
    Corporate

    Can India’s BharOS replace Android, iOS?

  • Will government reduce GST on life insurance?
    Tax

    Will government reduce GST on life insurance?

  • TV9 Sites

  • TV9 Hindi
  • TV9Telugu.com
  • TV9 Marathi
  • TV9 Gujarati
  • TV9 Kannada
  • TV9 Bangla
  • News9 Live
  • Know this india
  • Money9 Sites

  • Money9 Hindi
  • Money9 English
  • Money9 Marathi
  • Money9 Telugu
  • Money9 Gujarati
  • Money9 Kannada
  • Money9 Bangla
  • Topics

  • Insurance
  • Savings
  • Loan
  • Stocks
  • Mutual Funds
  • Real Estate
  • Tax
  • Crypto
  • Exclusive
  • Daily Shows

  • 2+2=5
  • Take it Easy
  • Red Alert
  • Formula Guru
  • Money Gyan
  • Money Central
  • Jhatpat
  • Money time
  • Weekly Shows

  • Money Comics
  • Economicom
  • Realty Check
  • Smile and pay
  • Money Tales
  • Companynama
  • Spend Wise
  • Follow us

  • FaceBook
  • Twitter
  • Youtube
  • Instagram
  • Linkedin
  • Download App

  • Andorid
  • ios
  • Contact Us
  • About Us
  • Advertise With Us
  • Privacy & Cookies Notice
  • Complaint Redressal
  • Copyright © 2022 Money9. All rights reserved.