SBI ATM: State Bank of India offers many types of facilities to its account holders. These facilities are available on your accounts. Many types of facilities are available not only on accounts but also on your SBI ATM. Hardly you know that up to 20 lakh rupees free insurance is also available at your ATM. This is accidental death insurance. Over 40 crore account holders get the benefit of this insurance up to 20 lakhs for free. It has been named Complimentary insurance cover available on SBI Debit Card.
According to a World Bank report, India has one percent of the world’s vehicles, but India’s contribution in the road accident is 11 percent. Talking about SBI free insurance, death insurance of up to 10 lakh in road accident and up to 20 lakh in air accident is available. Which insurance cover will you get, it depends on which SBI ATM card you have. The thing to note is that your card must be active. It is necessary to use the card at least once on any channel like ATM / PoS / e-commerce within 90 days before the date of the accident.
Free insurance up to Rs 20 lakh on SBI debit cards, check which are you using
What is the benefit on which card
> On SBI Gold (MasterCard / Visa), 2 lakh in road accident and 4 lakh in air accident get death insurance.
> 5 Lakhs and 10 Lakhs on SBI Platinum (MasterCard / Visa).
> 2 Lakh and 4 Lakh on SBI Pride (Business Debit) (MasterCard / Visa).
> 5 Lakhs and 10 Lakhs on SBI Premium (Business Debit) (MasterCard / Visa).
> SBI Visa Signature / MasterCard Debit Card gets cover of 10 lakhs in road accident and 20 lakhs on death in air accident.
According to a World Bank report, there are about four and a half lakh road accidents annually in India, in which one and a half lakh people die. There are 53 road accidents happening every hour in the country and one death occurs every four minutes. In the last decade, 13 lakh people have died on Indian roads and 50 lakh people have been injured besides these. If road accidents are so much, then people need accidental insurance. However, very few people are insured in the country.
Losses of 5.96 lakh crores every year
According to the report, road accidents in India cause a loss of 5.96 lakh crores, which is equivalent to 3.14 per cent of GDP. A study by the Ministry of Road Transport and Highways has estimated that road accidents in India cause social and economic losses of Rs 1,47,114 crore, which is equivalent to 0.77 per cent of GDP. According to the ministry, 76.2 percent of the victims of road accidents are those whose age is between 18 and 45 years. That is, these people are of working age group. Globally, road accidents are the eighth largest cause of death.
