As on date, the following is the
information available on the Prime Minister Jan Dhan Yojana (PMJDY) – INR
1 Lac Insurance Program: -
01) The insurance coverage of INR 1 lac is for accidental
death or permanent disablement for eligible RuPay Debit card holders.
02)The RuPay card issuing agency is National Payments Corporation
of India (NPCI)
03)NPCI has entered into an agreement with HDFC ERGO general
insurance company (HDFC Ergo) to provide an insurance program to all RuPay card
holders.RuPay Card Insurance Program
04)The same agreement would continue to RuPay card holders under
the PMJDY program too.
05)The insurance cover is for cardholders between 18-65 years of
age
06)Eligible RuPay Debit cards holders means who have performed at least one financial or non-financial transaction at any one channel i.e ATM/MicroATM/POS/eCom in the last 45 days
prior to the incident. For eg for accident occurred on September 1, 2014,
transaction by RuPay card must have been done or after July 15,2014
07)Negotiations are on with HDFC ERGO General Insurance to
increase the 45 day limit to 90 days.
08)The approved claim payment will be done through NEFT to the
card holder beneficiary along with a covering letter.
