Relaxation In Claiming Personal Accident Insurance For RuPay Card Holders

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National Payments Corporation of India (NPCI), the umbrella organisation for all retail payments system announced a relaxation in claiming personal accident insurance which is an added benefit for RuPay Classic card holders.

RuPay card is a domestic card launched by the National Payments Corporation of India (NPCI) which is committed towards development of customized product and service offerings for Indian consumers.

Relaxation In Claiming Personal Accident Insurance For RuPay Card Holders

The usage condition for RuPay customers has been extended to 90 days from 45 days earlier with effect from November 25, 2015.

Under PMJDY, RuPay Debit Card with an inbuilt accident insurance cover of Rs.1 lakh is also provided to account holders. 

RuPay Classic card holders will be entitled to a sum insured of Rs 1 lakh under Personal Accident Insurance (Death and Permanent Total Disability) if the card holder has carried out at least one transaction within 90 days of accident including the accident date.

The channels which can be used by the customer are Merchant Establishments, ATMs, e-commercee, Micro ATMs, Business Correspondents of the bank at locations.

"This extension will provide more flexibility to RuPay Classic card holders including the PMJDY customers who have been brought under the ambit of mainstream banking." said Shri A P Hota, MD & CEO of NPC

Read more about: rupay card, insurance
Story first published: Friday, November 27, 2015, 9:43 [IST]
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