SachinLLB : If a person dies untimely in a road accident and he is an ATM card holder, then he gets insurance from 2 to 5 lakh rupees. Because the person concerned is insured as soon as the ATM card is issued from the bank, in case of untimely death in an accident, if the member of the family concerned applies in the bank within the stipulated time limit, then he will get an amount of Rs 2 to 5 lakh as per eligibility. Compensation may be available. But banks do not inform the consumers about their savings and hide the information from them.
Insurance becomes as soon as the ATM card is issued-
As soon as the ATM card is issued by the bank, the account holder comes under the insurance cover. How much this sum insured will be depends on the category of the card. 2,00,000/- lakh to Platinum card holder and Rs 50,000/- Fifty thousand to Classic or Kisan Debit card holder and in case of some Special ATM Card Special ATM Card this insurance cover is 5,00,000/- - Up to five lakh rupees are also available.
ATM Claim How to get ATM claim benefit -
Intimation has to be given within 01 month to the branch of the bank by which the ATM card has been issued and within 01 month, in case of accidental death of the ATM card holder, a claim has to be made to receive the sum insured. The claim is paid only when the person holding the ATM card has died due to an accident and the cardholder's ATM is active. At least one financial or non-financial transaction has been done from the ATM from the date of death of the ATM card holder before the time limit prescribed by the bank and any transaction of any kind from that ATM after the date and time of the death of the ATM card holder has not been done.
Important documents to be taken in presenting the claim-
1. Claim Form
2. Death Certificate
3. FIR / Punchnama
4. Post Mortem Report
5. Identity Card of the Life Assured
6. Nominee's Identity Card
7. Cross check of nominee's bank account and
8. Discharge receipt. It is very important to have all these documents, without them the benefit of insurance cannot be obtained.
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