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Our Bureau

Kolkata , July 14

UNITED Bank of India has tied up with Bajaj Allianz General Insurance Co to offer deposit holders coverage against accidental death or permanent total disability.

The cover would be available to both the existing and new customers, a note issued by the bank has mentioned.

A person who already has a deposit with the bank or a new customer who opens a deposit account may pay Rs 13 per year for coverage of Rs 1 lakh against accidental death and Rs 1.25 lakh for permanent total disability.

The cost per month for the coverage is Rs 1.08, UBI has stated, adding that its customers will have the option of opening multiple deposit accounts, each of which will be covered separately. This will increase the quantum of insurance compensation.

A person who, for instance, has a SB, CD and term deposit accounts with UBI and pays Rs 39 (that is, Rs 13 x 3 for the three accounts) will get coverage of Rs 3 lakh or Rs 3.75 lakh as the case may be.

The entry age is up to 80 years for a customer, the note has stated. The scheme will be known as United Suraksha Yojana.

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