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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.