New Delhi. Insurance is very important. There are many types of insurance available including life insurance, and health insurance. But all of them have to be paid for. Installments have to be paid. But insurance of Rs 20 lakh is available without any payment, without instalments. You should have an SBI Bank ATM card. SBI ATM cardholders will get this insurance. Many customers using SBI ATM cards are not aware of this free insurance.

Most of the customers having an account in SBI Bank have an ATM card. ATM card is used to withdraw cash from an ATM and to make payments on other occasions including shopping. Normal SBI ATM cardholders will get this insurance. Yes, this is accident insurance being given by SBI Bank. In case of an accident or death of the SBI ATM card user, the family members will get this insurance amount.

Accidental insurance ranging from Rs 25,000 to a maximum of Rs 20 lakh will be available. This insurance amount will be deposited within 90 days of the accident. The SBI ATM user must have used the ATM card at least once. The amount will depend on which ATM card you use. SBI Classic ATM cardholders will get accident insurance of Rs 1 lakh, Platinum cardholders will get insurance of Rs 2 lakh, normal MasterCard holders will get insurance of Rs 50,000, Platinum MasterCard holders will get Rs 5 lakh, Visa cardholders will get Rs 1.50 lakh to 2 lahks, and RuPay cardholders will get insurance of Rs 1 to 2 lakh.

In the insurance of SBI ATM card holders, those who die and get injured due to an accident will get the insurance amount. The injured people will also be given the amount based on the ATM card and treatment. This free accident insurance will start only after opening an SBI bank account and getting an ATM. Customers become entitled to accident insurance only after starting to use the ATM card.

SBI has about 63,580 ATM centres in India. State Bank of India is the largest bank in India. It has the distinction of being the 48th largest bank in the world. It has 2.5 lakh employees. Its headquarters is in Mumbai. State Bank of India is ranked 10th among the companies with the highest number of employees in India. Not only in India, SBI has 191 offices in 36 countries including Australia, Bangladesh, China, Canada, Mauritius, and Nepal.