UPI payment has certainly reduced the need for cash today, but the need for cash has still not ended. If you suddenly need cash, that need can be fulfilled quickly through an ATM Card. But ATM cards do not only withdraw cash, they also provide many facilities. Information about this is not given by the bank. One of these facilities is your accidental insurance. Yes, whether the ATM card is of a private bank or a government bank, every card also comes with complimentary insurance coverage. This accidental cover can range from Rs 25 thousand to Rs 20 lakh.

SBI has two types of insurance cover

According to the information available on the website of SBI Bank, there are two types of insurance covered by SBI. The first is Personal Accidental Insurance (Death) Non-Air and the second is Personal Air Accidental Insurance (Death). The amount of insurance is decided according to the category of the ATM card. In case of death or accident of the ATM card holder, this insurance can also prove to be a support for the dependents.

These are the conditions of both types of insurance cover.

In Personal Accidental Insurance (Death) Non-Air Insurance Cover, the debit card holder is provided insurance for accidental death other than air travel. Whereas under Personal Air Accidental Insurance (Death) Insurance Cover, the debit card holder is given coverage only for air accidental death. In both situations, if the ATM card has been used during the last 90 days from the date of the accident, then a claim can be made for the insurance cover.

How much insurance is there on which card?

On SBI Gold (MasterCard/Visa), in Personal Accidental Insurance (Death) Non-Air Card, insurance up to Rs. 2,00,000 is given, whereas in Personal Air Accidental Insurance (Death), insurance up to Rs. 4,00,000 is given. On the other hand, the SBI Platinum (MasterCard/Visa) card offers insurance coverage of up to Rs. 5,00,000 in case of Personal Air Accidental Insurance (Death), and insurance cover of up to Rs. 10,00,000 is given in case of Personal Air Accidental Insurance (Death).

Insurance cover of up to Rs. 10,00,000 is given on this card.

On an SBI Pride (Business Debit) (MasterCard/Visa) card with Personal Air Accidental Insurance (Death), insurance of up to Rs. 2,00,000 is given and insurance cover of up to Rs. 4,00,000 is given in case of Personal Air Accidental Insurance (Death). On the other hand, SBI Premium (Business Debit) (MasterCard/Visa) cardholders get insurance up to Rs 5,00,000 on cards with Personal Air Accidental Insurance (Death) and up to Rs 10,00,000 on cards with Personal Air Accidental Insurance (Death).

Coverage up to Rs 20,00,000 on this card

Among SBI Visa Signature/MasterCard Debit cardholders, those who have cards with Personal Air Accidental Insurance (Death) are given insurance coverage up to Rs 10,00,000. Those who have cards with Personal Air Accidental Insurance (Death) are given insurance up to Rs 20,00,000.

Method of making a claim

If an ATM cardholder dies in an accident, then the nominee of the cardholder has to go to the branch of the bank where the account was opened. There, an application has to be given for compensation. Necessary documents have to be submitted to the bank. After a few days, the nominee gets the insurance claim but keep in mind that in case of death or accident within 45 days of using the bank's ATM card, the dependents of the concerned person can claim compensation under the insurance policy.