ATM-Debit Card Insurance: In today's world, ATMs and debit cards have become an integral part of our daily lives. From withdrawing cash to shopping and online payments, they are used everywhere. However, very few people are aware that their debit card also comes with insurance coverage worth lakhs of rupees. Surprisingly, due to a lack of information, most people never take advantage of this facility.

What type of insurance is available on debit cards?
Most banks' debit cards offer accidental insurance and, in many cases, life insurance coverage as well. If the cardholder suffers a serious accident or unfortunate event, their family or nominee can benefit from this insurance.

What are the necessary conditions for the insurance?
There is an important condition to avail of this insurance cover. Typically, the cardholder must have used the debit card at least once within the last 45 days. If the card has not been used for a long time, the insurance cover is not considered valid.

Which banks offer this facility?
Several major banks in India offer this insurance facility on their debit cards, including:
SBI (State Bank of India)
HDFC Bank
ICICI Bank
Kotak Mahindra Bank
The insurance amount varies depending on the bank and card category.

How much coverage is available on SBI debit cards?
Let's find out how much insurance is offered on the SBI Gold ATM Card and the SBI Premium Debit Card.

SBI Gold ATM Card

Death in an air accident: ₹4 lakhs
Death in a non-air accident: ₹2 lakhs
SBI Premium Debit Card

Death in an air accident: ₹10 lakhs
Death in a non-air accident: ₹5 lakhs
This amount also varies in other banks, depending on the type of card.

How to claim debit card insurance? (How to Claim Debit Card Insurance?)
The process for claiming this insurance is quite simple:

In case of an accident or death, the nominee needs to contact the bank branch or customer care.
They need to submit the necessary documents, such as: death certificate, FIR, and post-mortem report (if applicable).
The bank then contacts the insurance company and completes the claim process.
Most people are either unaware of this insurance or overlook the terms and conditions of card usage. With the right information and timely action, this insurance can be easily claimed.

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