Now, get life insurance cover through your Savings Account!
"Dena Jeevan SB Account" provides the value addition of life insurance for our Savings deposit account holders, who can now avail of life insurance cover through their account. The insurance cover is available under a One Year Renewable Term Insurance Plan of Life Insurance Corporation of India [LIC], for whom Dena Bank is a Corporate Agent.
The Savings Deposit account holders of the Bank between 18 and 59 years of age, who opt to become members under the scheme, would be eligible for an insurance cover of Rs.1,00,000/- ( Rupees One lac only ) on life, at very low premium. The amount of annual premium depends on the age of the optee. The salient features of the scheme ( which is a part of our Savings Deposit Scheme ) are given below:
a Life cover of Rs. 1 lac.
a Life insurance cover upto 60 years of age.
a Very low premium.
a No medical tests required. A simple declaration of good health will suffice.
a Insurance cover commences immediately on signing the Consent-cum-Authorisation Letter and
debit of premium to the account. The customer does not have to wait for the policy document.
a Simple payment mechanism : the premium can be debited to customers account and standing
instructions can be given for renewal. Thus there is no possibility of lapse of cover.
a Income Tax benefit is available. Effectively, the premium cost is lower.
a Nomination facility is available.
a Simple claim settlement process.
a The insurance cover is provided under the Group Insurance Scheme of LIC, the premier life
insurance company in the country having sovereign guarantee.
a Such One Year Renewable Term Insurance Plan is not available off the shelf for individuals.
For further details, please contact our nearest branch.
Adding value to your savings account....because we value your account