Syndicate Bank, Regional Office (Rural), Hyderabad has insured over one lakh of its customers in the Pradhana Mantri Suraksha Bhima Yojana and Jeevana Jyothi Bhima Yojana.
The bank has also honoured its first claim in the former scheme after the demise of a policyholder in a road accident through United India Insurance Company.
“All account holders are requested to enrol under both the above mentioned insurance schemes as they provide social security to the family of the insured in case of any untoward incident,” K Srinivasa Rao, Deputy General Manager, Syndicate Bank said in a release.
Under Suraksha Bhima Yojana, any account holder of a bank who is in the age group of 18 to 70 years has to pay ₹12 per annum as premium through his bank account to get an accidental insurance cover of ₹2 lakh.
The Jeevana Jyothi Bhima Yojana offers ₹2 lakh life insurance cover on a premium of ₹330 per annum.