| Insurance linked scheme for NRIs |
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Who are eligible under the scheme: All non-resident account holders of the Bank and their family members which includes, spouse, dependent children and parents holding NRI status. Even NRIs with fresh account relationship are also eligible.
Is there any Age limit: The minimum age is 5 years and the maximum age is 65 years.
What are the benefits under the scheme: The benefits are provided in two plans. The customer can choose any one of the plans. |
Plan A
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Plan B |
- Personal accident death and permanent total disability: 100% of sum insured.
- Loss of one limb or one eye due to accident: 50% of sum insured
- Medical Benefits due to accident: 10% of sum insured.
- Ambulance charges due to accident up to Rs.5000 maximum.
- Medical Emergency re-union expenses due to accident: 6% of sum insured subject to maximum of Rs.30,000.
- Charges relating to some specific unfortunate outcome of accident is payable up to 10% of sum insured up to a maximum of Rs.30,000/-.
- Loss of baggage (theft, loss in transit) in India: 5% of sum insured subject to a maximum of Rs.50,000.
- Delay in receiving checked in baggagebeyond 12 hours: 1% of sum insured subject to a maximum of Rs.10,000/-.
- Loss of passport: 0.20% of sum insured subject to a maximum of Rs.5,000/-
- Fire & allied perils for building and contents in India: on actual basis up to sum insured.
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All covers mentioned in Plan A are available and in addition, Mediclaim insurance is available for additional premium. The features of Mediclaim policy is as follows:
- The cover is available for the family consisting of account holder, spouse and two dependent children (dependent children means male not over 21 years and female not over 25 years or marriage whichever is earlier.
- Cover available from Rs.50,000 to Rs. 5 lakh.
- Hospitalisation in India, Nepal and Bhutan is allowed in Indian Rupees.
- If the account holders enter before completion of 65 years of age, the policy can be renewed till 80 years of age.
- Homeopathy and Ayurveda treatment allowed.
- No medical examination only declaration of good health.
- Maternity benefits and baby care covered up to 5% of sum assured.
- Ambulance charges up to Rs.1,000 allowed.
- Out of pocket expenses up to Rs.1,000 in case of children below 12 years are hospitalised are allowed.
- Cashless access at networked hospitals available through Third Party Administrators.
- Cost of Health check up in India up to 1% of sum insured after 3 claim free years allowed.
- Prehospitalisation expenses for 30 days and post hospitalisation expenses up to 60 days are allowed.
- Parents of account holder, not over 65 years can also be covered only for Mediclaim for additional premium.
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What is the Period for which the insurance is available: The cover is available for the actual period of visit to India not exceeding 180 days in a year. Restricting the maximum period to 180 days in a year will help reduce the premium amount to half, as the NRIs are not likely to stay for more than 180 days in a year. However, the cover for fire policy and mediclaim policies are available for the entire period of one year for which the policy is taken.
What is the Premium payable: The premium depends on the sum assured. The premium amount for various sum assured are given in the following table. The premium given are exclusive of Service Tax. The premium will be debited to the NRE account of the customer based on the authorisation received from the customer.
(for Plan A, in addition to the premium memtioned, Service Tax is also payable) Service charges of Rs.55 is also payable by the account holder in addition to the premium. |
| Plan A |
Plan B |
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Premium (Rs.) |
| Sum Insured(Rs.) |
Premium (Rs.) |
Sum Insured (Rs.) |
For NRI & Family Premium payable over and above Plan A |
For NRI, family and parents premium payable over and above Plan A |
| 1,00,000 |
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50,000 |
914 |
1,543 |
| 2,00,000 |
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1,00,000 |
1,767 |
2,986 |
| 5,00,000 |
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1,50,000 |
2,587 |
4,373 |
| 10,00,000 |
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2,00,000 |
3,328 |
5,622 |
| 25,00,000 |
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2,50,000 |
3,985 |
6,733 |
| 50,00,000 |
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3,00,000 |
4,643 |
7,844 |
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3,50,000 |
5,217 |
8,816 |
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4,00,000 |
5,792 |
9,786 |
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4,50,000 |
6,369 |
10,761 |
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5,00,000 |
6,943 |
11,731 | |
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