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Canara Bank has entered into a memorandum of understanding with Life Insurance Corporation of India for offering the Pradhan Mantri Jeevan Jyoti Bima Yojanainsurance cover to all its eligible customers.
The bank has also partnered with the United India Insurance Company for offering the Pradhan Mantri Suraksha Bima Yojana insurance cover.
According to the MoU, LIC will offer a life cover of ₹2 lakh in case of death of the insured person at a nominal premium of ₹330 per annum.
All savings bank account holders in age group of 18 to 50 years can avail themselves of product, the bank said.
Similarly, United India Insurance will give accident insurance scheme offering cover for death or disability on account of accident.
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