Insurance Protection at Low Cost to the Bank’s SB Account Holders
Dena Bank is associated with UIIC as a corporate agent since 2011 and now UIIC has offered this new product as announced in the budget. Dena Bank has entered into a Memorandum of Understanding (MOU) with United India Insurance Company Limited (UIIC) under the Prime Minister’s Pradhan Mantri Suraksha Bima Yojana (PMSBY) scheme to provide accidental insurance cover to all saving account holders of the bank in the age group of 18 to 70 years. The scheme will come in effect from 1st of June, 2015.
Under the scheme, a risk of Rs 2 lakh will be covered in case of accidental death and full disability and for partial disability Rs. 1 Lac will be covered. The premium sum of Rs 12/- per annum will be auto-debited to the account holder’s account. As per the terms of risk coverage, a person has to opt for the scheme every year.
The MOU has been signed by Shri M K Bhatia General Manager (Bancassurance) Dena Bank and Shri Soumya Mukherjee, Dy. General Manager, Mumbai Regional Office-II, UIIC. The other top executives of Dena Bank and officials of UIIC were also present on that occasion.
