Debit and credit card Insurance

Did you know? Debit, credit cards come with accident insurance cover.

Few users are aware that bank-issued debit and credit cards have a free personal accident insurance policy.

There are more than 140 such credit and debit cards available in market.

Customers can get insurance for accidental death and complete permanent disability. With regard to debit and credit cards, the insurance coverage ranges from 50,000 to up to 10 lakhs depending on the card type. Conditions for claiming the insurance are that the card should be in active use and the claims should be made within a particular time frame. For e.g.; under the Rupay insurance programme, claim intimation should be done within 90 days from the date of accident and all supporting documents relating to the claim must be submitted within 60 days from the date of intimation. Cardholder should have done an active transaction (either a financial or non-financial transaction) 90 days prior to the date of accident.