SBI account holders get up to Rs 2 lakh free insurance

Mumbai: Good news for the Jan Dhan account holders of the State Bank of India (SBI) as they can avail of free insurance of up to Rs. 2 lakh.

Under the insurance, the nominee of the insured can claim the amount even in case of death outside India.

In order to avail of this insurance, a Jan Dhan account has to be opened in the SBI bank branch.  Even the existing customers who have opened their accounts after August 2018 and possess the ‘SBI RuPay Jan Dhan Card’ are eligible for the insurance.

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The insurance amount for the customers who have opened their Jan Dhan account before August 2018 was Rs. 1 lakh.

In order to claim the insurance amount, the nominee has to fill the ‘claim form’ and attach a death certificate of the insured to it.

Pradhan Mantri Jan Dhan Yojana account

Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme which was launched in 2014 is aimed at financial inclusion by opening free bank accounts.

The scheme which is being run by the Department of Financial Service, Ministry of Finance not only offers zero balance account but also provides free insurance and overdraft facility to its beneficiaries.

As on January 27, 2021, 41.75 crore PMJDY accounts have been opened. Out of them, 35.96 crore accounts are operative.

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