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The National Payments Corporation of India (NPCI) will allow RuPay cardholders to claim personal accident insurance by using the card within 90 days of the accident. The usage condition for RuPay Classic card-holders has been extended to 90 days from 45 days earlier with effect from November 25, 2015, NPCI said in a statement.
The corporation has issued a total of about 218 million RuPay cards, of which 217 million are RuPay Classic cards.
NPCI is the umbrella organisation for all retail payment systems in the country.
“RuPay Classic card-holders will be entitled to a sum insured of ₹1 lakh under Personal Accident Insurance (Death and Permanent Total Disability) if the card-holder has carried out at least one transaction within 90 days of the accident, including the accident date,” the statement added.
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