Monetary Compensation Scheme on Debit Card:
Accident insurance claim is available for both premium and non-premium for debit card users.
Premium cards include:
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Rupay Platinum and Rupay Select Debit Card
Non premium cards include:
For Accidental Death/Permanent Disability Insurance on Rupay Platinum and Rupay Select Debit Cards, Customer should have performed minimum one successful Rupay Card induced financial transaction at any POS/ Ecom, both Intra and Inter-bank i.e. on-us or off us within 30 days prior to date of accident including accident date of Rupay Cardholder
For Accidental Death/Permanent Disability Insurance on Rupay PMJDY Debit Cards, Customer should have performed financial or non-financial transaction at any Channel both Intra and Inter-bank i.e. on-us (ATM/MicroATM/POS/e-com/Business Correspondent of the bank at locations by any payment instrument) within 90 days prior to date of accident including accident date of Rupay PMJDY . Cardholders or off us (same bank channels- Bank Customer/Rupay cardholder transactions at other bank channels).
For Rupay card holders, insurance facility for both accidental death/permanent disability is available:
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Card Type
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Insurance Coverage
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Rupay PMJDY
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- Sum Assured of Rs.1 lakh is available for Rupay Debit Card issued in PMJDY account opened up to August 28, 2018.
- Sum Assured of Rs.2 lakhs is available for Rupay Debit Card issued in PMJDY account opened after August 28, 2018.
- For all such cases, the date of opening of the account has to be specifically mentioned in the claim form.
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Rupay Platinum
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For Accidental Death / Permanent Total Disability Rs. Sum Assured of Rs 2 lakh is available.
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Rupay Select
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For Accidental Death / Permanent Total Disability Rs. Sum Assured of Rs 10 lakh is available.
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Family member(s) / beneficiaries of a deceased PNB ATM / Debit Card holder should intimate their base branch within 90 days from the date of death.
Claim should be submitted within 90 days from the date of accident. In case it is submitted after 90 days, the insurance company will carry out an investigation & it would be honored if all other conditions are met as on date of accident.
Further, please note as under :-
1. The Personal Accidental insurance program for Rupay Classic Debit Cards has been discontinued since 01.04.2020 .Hence, the Personal Accidental insurance benefits are no longer available for any existing or freshly issued Rupay Classic Debit Cards.
2. For MasterCard and VISA Debit Card holders, currently there is no Insurance feature available for Accidental Death/ Permanent Disability.
Kindly make note of above changes and be guided accordingly. For any queries or further clarification, you may contact our customer service team or visit your nearest Punjab National Bank branch.