Friday, 28 May 2021

Are you SBI Debit Cardholder then you are Eligible for Insurance Cover know the Details Here

Are you SBI Debit Cardholder then you are Eligible for Insurance Cover know the Details Here

SBI Debit Card Insurance Cover : Did you know? like credit cards, the State bank of India or SBI debit cards also come with insurance cover. Yes, State Bank of India (SBI), country's largest bank, offers complimentary insurance covers to its debit cardholders'


As you know that the State Bank of India is the largest bank in India. People often think credit and debit card are only used for payment, cash deposit, withdrawal, etc. Very few people know about this fact, it offers certain insurance covers as well. State Bank of India (SBI), country's largest bank, offers complimentary insurance covers on its debit cardholders. These include personal accidental insurance (death) non air, personal air accidental insurance (death), purchase protection, purchase protection cover for salary package accountholders, add on covers such as family transportation and transportation of mortal remains and checked-in baggage loss cover. Know the details of  SBI Debit Card Insurance Cover. 

The country’s largest lender, State Bank of India, is offering complimentary insurance covers on SBI debit cards. This insurance is broadly divided into personal accidental insurance (Death) — air and non-air. The cover is different for different card variants. This personal accidental insurance (Death) non-air cover becomes operational when the card is used at least once on any channel — ATM/PoS/eCom during the last 90 days (Financial) before the date of the accident. In the case of the personal air accidental insurance (Death), it is activated if the card is used at least once in ATM/PoS/eCom during the last 90 days (Financial transaction) from the date of accident, subject to a condition that the air ticket for that air travel should have been purchased by using the Debit Card

The cover of Rs 20 lakh is valid for cardholders who have SBI VISA Signature Debit Card and have purchased protection cover of Rs 1 lakh.

The following are six card variants : 
1). SBI Gold (MasterCard/VISA), 
2). SBI Yuva (VISA), 
3). SBI Platinum (MasterCard/VISA), 
4). SBI Pride (Business Debit) (MasterCard/VISA), 
5). SBI Premium (Business Debit)(MasterCard/VISA), 
6). SBI VISA Signature Debit Card. 

These following  offer different insurance cover.
Debit cards issued by the National Payments Corporation of India-NPCI are also insured. Accidental Death or Total Disability only covered.

Central governments Prime Minister's Jan Dhan Yojana covers SBI debit cards up to Rs. 2,00,000.  If Rs.1,00,000 is applicable for those taken before   insurance is applicable for debit card holders after 28th of August 2018. The card must be transacted 90 days before  the accident.