Insurance Linked Current / Savings Bank Deposit Scheme
Extent of Benefit:
The accident insurance cover of Rs.1.5 lakhs and also a cover for reimbursement of hospitalization expenses out of such accidents up to Rs.15 ,000/- are the salient features of this scheme.
The current/savings bank deposits account is holding the minimum balance of Rs.10,000/-for the period of 90 days prior to the date of accident and also the age of the depositor is above 10 years and below 70 years as at the date of the accident, resulting in either permanent disability as here in after defined or death is eligible for this purpose providing necessary documents to the satisfaction of the Bank.
If the Depositor hold more than one current/savings bank deposit account or both the accounts in the Bank under this scheme the insurance eligibility is for only one current or savings bank deposit account which is beneficial to the depositor