Good News! SBI Customers can get up to Rs 2 Lakh free insurance; Know how to get it

State Bank of India (SBI) has announced a piece of good news for its customers. SBI is offering free insurance benefits of up to Rs 2 lakh to its customers who have a Pradhan Mantri Jan Dhan Yojana (PMJDY) account in the bank.

According to reports, customers with PMJDY account can get up to Rs 2 lakh insurance cover for free. The nominee of the account can get the free insurance cover even if the mishap occurs outside of India.

SBI customers who have opened the their Jan Dhan accounts before August 28, 2018 will get an insurance amount of Rs 1 lakh whereas customers who opened their Jan Dhan accounts after this date can avail accident death coverage of up to Rs 2 lakh.

The most important thing is you need to apply for the ‘SBI RuPay Jan Dhan Card’ to get the free insurance.

The customers who want to avail this scheme will also have to open a PMJDY account in the bank or they have to have the account from before.

The Pradhan Mantri Jan-Dhan Yojana (PMJDY) is a financial drive started by the Central government to provide various financial services like availability of basic savings bank account, access to need based credit, remittances facility, insurance and pension to people who have low incomes.

Jan Dhan Yojana enables people to open a account without the need to deposit any money in the SBI bank. They just have to get Rupay Debit cards which have several benefits as well. RuPay debit card holders can also get protection benefits and other advantages.

How to get the free Insurance benefits with the SBI Jan Dhan account ?

  • To get the insurance cover benefits of the SBI Jan Dhan account, you have to fill the claim form first.
  • Then you need to attach a copy of the death certificate of the person for whom the insurance has to be claimed.
  • You will also need a copy of the FIR regarding the accident, mortem report, FSL report, and copy of the deceased person’s Aadhar card.
  • Note that all the required documents should be submitted within 90 days of the accident to claim the insurance.
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