SBI Account Holders – Personal Accident Insurance

POSTED BY Anirban Ghosh ON August 9, 2012 11:58 pm COMMENTS (8)

Hello All,

Wanted to share this information with you all:

SBI has recently launched a Personal Accident Insurance policy for its Savings Account holders wherein each account holder can avail such a policy of 4 Lakhs for a nominal annual premium of Rs.100. The insurance provider is SBI General.

The process is quite simple: you need to visit your SBI branch and fill up a form that will permit them to deduct Rs.100 from your savings account. Within a couple of days the policy document (which is a nothing but a single sheet of paper) and a receipt for the paid premium can be collected from the branch. While collecting the same, you need to fill up the nominee details on this policy document. For me the entire process took just two days.

From what I found out as of now there is no provision of availing this policy using SBI’s online banking. Even for policy renewal you need to visit the branch, but hopefully that will change in a year.

The SBI General website has the product brochure. But their site is not working right now so I have put up these documents here:

Product Brochure => http://goo.gl/TJNNJ
Policy Wording => http://goo.gl/EOCd5

Regards!

 

8 replies on this article “SBI Account Holders – Personal Accident Insurance”

  1. BHASKARREDDY says:

    THIS IS A KIND OF TORTURE.
    NOTHING WE GET IF WE DIE NATURALLY.
    IT IS NOT A POLICY, IT IS A KIND OF CHEATING PEOPLE.
    IF WE OPEN AN ACCOUNT YOU MUST TAKE THIS POLICY.
    THIS IS MUST FOR EVERY SAVINGS BANK ACCOUNT HOLDER.
    AMOUNT GETS DEBITED AUTOMATICALLY.

    1. Thanks for your comment BHASKARREDDY

  2. monotosh mondal says:

    BULLSHIT..
    THIS IS A CHEAP CHEATING..
    100 RUPEES IS GETTING AUTOMATICALLY DEBITED EVERY YEAR..
    AND BELIEVE ME ..YOU WILL GET NOTHING IF ACCIDENT OCCURS
    FIRST TIME I OPENED A SAVINGS ACCOUNT
    I HAD TO TAKE THIS 100 /- FORCIBLY
    NEXT YEAR THEY AUTOMATICALLY DEBIT 100/-
    I RAISED COMPLAINT AND THEN CALL CAME..AND THEN I GOT MONEY BACK WITH ASSURANCE
    THAT SUCH AUTOMATIC DEBIT WILL NOT HAPPEN AGAIN..
    BUT THIS YEAR AGAIN THAT HAPPENED
    AND THIS YEAR THERE IS NO PERSON CALLER
    I RAISED THE COMPLAINT TWICE.
    BUT BOTH TIMES IT SAID
    ..THE CHARGES ARE OKK..AND JUSTIFIED..
    I AM GOING TO THE BRANCH NOW TO HAVE A DUEL WITH THIS BASTARDS WHO HAVE NO WORK.. AND DOES ONLY THESE SH**TTY WORKS

    1. Thanks for your comment monotosh mondal

  3. sbi gen pa insurrince not automatic renewal pay from my account.

  4. BRSINGH says:

    2 months back i created my SBI deposit account and this accident coverage came as a pleasant surprise.

  5. Considering Rs 100 , seems to be a good option , there are many people who do not want a very big cover , for them this is a good option !

  6. Dear Anirban, similar policies are on offer from other banks also under different tie ups for it’s bank account holders. PNB, Union Bank of India, BOB & IOB are few of them.

    Thanks

    Ashal

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