Here We are going to discuss about Debit/Credit card holders cover under Personal Accident cover and how to claim the benefits.
Now-a-days most of the people use Debit/Credit card for their transactions without going to the bank regularly. Persons using Debit card/Credit card are covered under Personal Accident cover default. These coverages vary from bank to bank. Apart from Personal Accident cover some banks also provides other benefits like Purchase Liability and Loss card Liability Cover.
Personal Accident Insurance coverage is nothing but when a person injured or died on a sudden accident incident then person family members can claim their insurance policy. Personal Accident Cover for Debit/Credit card users is complementary coverage.
Coverages
Personal Accident Cover – Injury
When a Debit/Credit card holder met with an accident and person injured / disabled it is covered in Personal accident cover. Conditions and Sum Insured for Injury / Disability coverage varies from bank to bank.
Personal Accident cover – Death
When a Debit/Credit card holder met with an accident and person died in that accident, it is covered in Personal accident cover. Conditions and Sum Insured for death coverage varies from bank to bank. Air accident is a separate cover and this coverage is separately provided for many banks.
Purchase Liability cover
If an item purchased using debit card or credit card and item covered for replacement, repair or reimbursement for any eligible stolen or damaged items. This cover is covered for few days to few months depends on the bank.
Loss card Liability cover
Debit card /Credit card lost or if it gets stolen, this must report to the bank request for deactivate your card and prevent fraud. Liability fee on that lost/stolen card is payable on the expenses incurred during the period between the loss and informing to the bank.
Conditions
Each bank has separate conditions for each type of cover. Some standard coverages are
- Card must me used in any Point of Sale prior to the Incident
- At the time of accident Person should not be in Intoxicated condition
- Suicide not covered
- Wilful acts not covered
- If a person has more than one Debit/Credit cards, claim should be made from highest sum insured card only.
- Air Accident Insurance cover is separate accident cover and it should be specifically mention by the bank.
Claim Process
Documents that need to be submitted to claim personal accident insurance
- Claim form
- Legal Her supporting documents
- Death certificate
- FIR
- Panchanama
- Final police report
- Post-mortem report
- Driving license, if the deceased the person was driving the vehicle.
- Certificate from railway Authority in case of rail accident.
These are the common documents to be submitted to the bank. Apart from the above said documents other documents may be required. This will change case to case basis.