State Bank of India (SBI) is offering free insurance benefits up to ₹2 lakh to customers who have a Pradhan Mantri Jan Dhan Yojana account with the lender or have opened their accounts earlier.
The biggest bank in the country has extended the accidental insurance benefits to even nominees who face a mishap outside India.
To avail the insurance benefits, customers will have to open a Pradhan Mantri Jan Dhan Yojana (PMJDY) account with SBI.
Existing customers who opened their SBI accounts before August 28, 2018 are also eligible for the benefits. The scheme is available for customers who apply for SBI RuPay Jan Dhan Card.
Customers who have a PMJDY account with SBI can avail accidental insurance coverage of up to ₹2 lakh. For the earlier customers, the insurance amount is ₹1 lakh.
To get the accidental insurance benefits, nominees will have to fill a claim form and attach the death certificate of the person for whom the insurance is to be claimed.
They will also have to submit a copy of the FIR regarding the accident, mortem report, FSL report, and copy of the deceased person’s Aadhar card.
These documents have to be submitted within 90 days of the accident to claim the insurance.
Pradhan Mantri Jan Dhan Yojana is a financial inclusion scheme floated by the Modi government in 2014.
The scheme ensures access to various financial services like availability of basic savings bank account, access to need based credit, remittances facility, insurance and pension to weaker sections and low income groups.
The plan envisages universal access to banking facilities with at least one basic banking account for every household, financial literacy, access to credit, insurance and pension facility.
In addition, the beneficiaries would get RuPay Debit card having inbuilt accident insurance cover of ₹1 lakh.
The plan also envisages channeling all government benefits, from central or state governments, or local bodies, to the beneficiaries’ accounts and pushing Centre’s Direct Benefits Transfer (DBT) scheme.