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All RuPay ATM-cum-debit cardholders are presently eligible for accidental death and permanent disability insurance cover. RuPay Classic cardholders are eligible for cover of ₹ 1 lakh, whereas RuPay Premium cardholders are eligible for cover of ₹ 2 lakh. Insurance premium is paid by the National Payments Corporation of India. 872 cardholders received insurance claims during the financial year 2016-17.
This was stated by Shri Santosh Kumar Gangwar, Minister of State for Finance in written reply to a question in Lok Sabha today.
Accidental insurance for RuPay cardholders provides sponsor funded death and disability cover and recorded claim payments. Accidental insurance is provided to all RuPay ATM cum debit cardholders for accidental death and permanent disability with distinct coverage tiers for classic and premium cards; the insurance premium is paid by the card scheme sponsor, and paid claims were recorded in the referenced financial year.Press 'Enter' after typing page number.