Cheap accident cover from Federal Bank

 


Kerala-based Federal Bank has inked a pact with general insurer New India Assurance (NIA) to provide affordable accident cover to its savings bank account holders. The agreement will implement the Pradhan Mantri Suraksha Bima Yojana (PMSBY), which focuses on accident cover.

 

Federal Bank saving account holders between the ages of 18 and 70 will be able to get a cover of up to `2 lakh by paying an annual premium of only `12.

Under the PMSBY, beneficiaries will get `2 lakh for death due to an accident or for loss of sight and limbs. Loss of sight in one eye or loss of one of the limbs will entail a cover of `1 lakh.

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