Debit Card Insurance: Almost everyone has a debit card in their pocket these days. But did you know that this small plastic card holds the key to your family’s financial security? Whether you spend money or not, you can get Accidental Insurance benefits of Rs 1 lakh to 20 lakhs just by keeping the card in your pocket. You don’t have to pay any premium separately for this.
1. How much insurance is available in which bank?
Almost all major banks in India like SBI, ICICI, HDFC, and Axis Bank offer this facility to their customers.
The insurance amount varies according to the category of the card:
- Ordinary or Classic Card: Up to Rs 1 lakh.
- Platinum or Premium Card: Rs 2 lakh to 5 lakh.
- High-end cards (like Signature or Visa Infinite): Rs 10 lakh to 20 lakhs.
- Jan Dhan Yojana (RuPay Card): Accidental insurance of up to Rs 2 lakh is available under the new rules.
2. Main conditions for getting insurance (very important)
There is only one main condition for getting this insurance for free – your card must be ‘active’.
Rules: You must make at least one transaction (withdraw money from ATM or shop) with that card within 30 to 90 days (depending on the bank) before the accident. If the card is not used for a long time, the insurance claim will not be accepted.
3. How to claim insurance money?
If an accident occurs, the cardholder’s nominee must take immediate steps:
- Inform the bank: The concerned bank must be informed in writing within 60 to 90 days of the accident.
- Required documents: * Death certificate (in case of death).
- FIR copy.
- Postmortem report.
- Proof that the card was active (bank statement).
- KYC documents of the nominee.
4. Air Accident Cover
If you buy a flight ticket with your debit card and unfortunately, there is a plane crash, the insurance amount can increase several times. In many cases, it can be up to 1 crore taka.
(Warning: Every bank has different terms and conditions. So, without delay, visit your bank or call customer care today to find out how much cover is available on your card.)