Did you know you already have 10 LAKHS worth of free insurance with your debit or credit card?
Here's all you need to know about how to claim it.
A thread👇(1/n)
Guess what?
ATM, Credit, and Debit cards aren’t just for shopping and banking.
What most people don’t know is they have other less-known benefits too. Like complimentary insurance!
Almost every bank provides Personal Accidental insurance to customers with an operational bank account.
👉Depending on the type of card, this cover ranges from ₹50000 to ₹10 lakh.
If an unfortunate accident does occur that leads to death or permanent disability, the beneficiary can approach the bank with the relevant medical reports and documents, and a lump sum payout can be claimed within 90 days.
💡The only catch here is that in most cases, the card should have been in active use & the claim should be made in a given time span.
Some cards might require you to have made at least 1 transaction during the last 90 days before the accident.
Now, if someone's thinking 'the more, the merrier,' and doing the math for what their 4 credit cards and 3 debit cards will fetch them, sorry to burst the bubble.
The free insurance is strictly for one card. But hey, that still counts for something.
But keep in mind that this covers only a few use-cases. If you want a comprehensive health or life policy, just drop us a WhatsApp text, and you'll have the best insurance advice at your fingertips- bit.ly/3DF3ZtE (n/n)
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The answer’s no. Tell you why.
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(3/7)
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A thread.👇 (1/5)
1.) Life Stage Benefit
Term insurance policies are rigid- coverage stays the same till the policy expires.
👉With a life stage rider, the insurer provides the flexibility to increase cover by a certain amount during major life events like getting married & having kids. (2/5)
2.) Waiver of Premiums
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But you have a life insurance policy. Who will pay the premiums?... (2/6)
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Thread. 👇
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Things were so tense that Howard had to lay off 6,700 employees and close down 600 stores. (3/8)
Insurers can REJECT your claim if your disease treatment falls under a "waiting period"
Here are the key things you need to know about waiting periods in your health #insurance policy.
A thread. (1/8)
💡| As the name suggests, waiting periods in health insurance is quite literally the amount of time you need to wait, for an insurance policy to cover your diseases.
But since it’s insurance, it’s not that simple.
There are mainly 3 types of waiting periods...(2/8)
(1) Initial 30-day waiting period:
~This waiting period is only so that insurers can make sure that someone doesn’t take a policy after they get sick.
~Accidents (since they are unpredictable) & COVID (waiting period could be 15 -30 days) are exceptions. (3/8)