Having an active debit card or credit card makes you eligible for accidental death cover of up to Rs 10 lakh, depending upon the type of credit or debit card you are using.
Credit & Debit Card Insurance
Having an active debit card or credit card makes you eligible for accidental death cover of up to Rs 10 lakh, depending upon the type of credit or debit card you are using. As per the insurance rules, debit or credit card users are given free accidental death cover that can be claimed within 90 days in the event of an account holders death. The rule also makes it clear that this free accidental life cover will be given on just one credit or debit card. If the person has more than one credit or debit card, then it doesn't mean the card holder will get insurance claim on each card. In the case of one credit card and one debit card, insurance amount can be claimed on only one card
How to claim for your card insurance?
People are hardly aware of this fact because of which they are reluctant to make any insurance claim. To claim for the insurance, you need to inform the police as soon as the concerned person meets with an accident. Keep all the relevant documents intact concerning the person who met with the accident. If the person is hospitalised, then you need to keep all the medical documents with you or if, by any chance, the person expires, then in such a case you need to have the postmortem report, police report, death certificate, and a valid driving licence of the deceased person. You also need to tell the bank that the cardholder has made some valid transaction through the ATM card within 60 days.
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