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Karnataka Bank Ltd, in association with Universal Sompo General Insurance Company, has launched a group personal accident insurance scheme named ‘KBL Suraksha’. Quoting P Jayarama Bhat, Managing Director and Chief Executive Officer of the bank, a press release said here on Wednesday that all the SB (savings bank) account customers of the bank in the age group of 18-70 years can subscribe to this scheme by paying an annual premium of ₹100 for ₹10 lakh and ₹50 for ₹5 lakh coverage. Bhat, who launched the scheme in Mangaluru on Wednesday, said that the scheme comes into effect from January 1. With this scheme, the bank is expecting an overwhelming response from its existing SB account holders, and also a significant increase in new SB accounts, he added.
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