The world is running on hectic schedules and erratic lifestyles, with people racing against each other in the world that is a rat race.  As soon as we step out of our houses, we have out hearts at our sleeves and face the challenges life throws at us. But life also presents you with uncertain events that have chances of burning a hole in your pocket. Accidental deaths are one such instance where the event takes a toll on the near and dear ones. But if you are a debit card holder, then the nominee is entitled to benefits from your respective bank. Each of these public and private banks has a different set of terms and conditions that one has to comply to. In other words, at the eleventh hour of need, the individual personal accident insurance given by the bank to debit card holders comes to one's aid.

1. State Bank of India

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The largest public sector bank gives its debit card holder the insurance when it comes to non-air accidental deaths. This is applicable to the type of Debit card variant held. Moreover, the cover is operational only when the card has been used at least once 90 days prior the date of accident. SBI grants a cover between Rs 2,00,000- Rs 10,00,00 depending on the debit card the individual had. 

2. ICICI bank

ICICI bank grants cover on non-air accidental deaths for all its debits card variants, except silver debit cards. In case of ICICI, one can claim the cover if the card holder made a transaction of Rs 499 (non-ATM), at least 30 days prior to the date of the accident. The cover amount ranges from Rs 5,00,000 to Rs 15,00,000, depending on the type of debit card held.

3. IDFC Bank

The IDFC debit card comes with free insurance. The cover can be claimed only when there is a transaction made of Rs 500 for the last three months from the date of the incident. These do not include ATM and online transactions. This rule is applicable from May 2019. In case the customer had multiple cards, the highest eligible debit card will be applicable for the claim. 

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4. Axis Bank

In case of Axis debit card holders, to avail the  Personal Accidental Insurance covers, the card needs to make at least one transaction of purchases 180 days prior to the date of the accident. Moreover, to make the claim, the report has to be made to the bank within 90 days from the date of the incidence.

5. Kotak Mahindra Bank

To make a claim of  Personal Accidental Insurance covers for a Kotal Mahindra debit card, the card needs to have three purchase transaction or online transactions, for the previous month, with the minimum amount of Rs 500.  Kotak Mahindra Bank grants Rs 2,00,000 to classic debit card holders, Rs 5,00,000 to old / Platinum /World / Privy Platinum / Privy Signature and Infinite Debit Card. For the latter, the cover can increase to Rs 10,00,000 , provided five transactions each amounting minimum of Rs 500 were done the previous month. 

6. Yes Bank

If the individual is a Yes Bank debit card holder, then the claim has to be registered within 30 days. Moreover this claim in applicable only on active cards.
This claim excludes death incurred by attempt of suicide, influence of alcohol or drugs, military duty, natural deaths, terrorist victim etc. 

(By Ruchika Goswamy)