Mangaluru, Dec 23, 2015: Karnataka Bank, a premier private sector Bank has launched ‘Group Personal Accident Insurance Scheme’ named “KBL Suraksha” in association with M/s Universal Sompo General Insurance Company’.
“As a step towards providing financial security to the family members of our Savings Bank(SB) customers, Bank has launched this Group Personal Accident Insurance Scheme which provides insurance cover for accidental death.
All the Bank’s SB account customers between the age group of 18 to 70 years can subscribe to this scheme by paying a nominal annual premium of ` 100 for ` 10 lakh & ` 50 for ` 5 lakh coverage and the policy can be renewed upto the age limit of 75 years. Provision is also made available for auto renewal of the policy with appropriate standing instruction. Further, our privileged SB account holders (SB-Platinum, SB Money Ruby etc.,) will get this insurance coverage free of cost.
The claim procedures are also simplified. This novel scheme comes into effect from January 01, 2016 and we not only expect an overwhelming response from our existing SB account holders, but also a significant increase in new SB accounts”, said Shri.P.Jayarama Bhat , MD & CEO of the Bank while launching the new scheme at the Bank’s Head Office on 23-12-2015.