Insurance: You also get free insurance cover worth lakhs, do you know?
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New Delhi : You get life insurance for future risk and financial security of your family after you (life insurance) buys plus health now (Health), people are also more willing to take out travel insurance. But for that you have to pay monthly, quarterly, half yearly, annual premium. but you free insurance (free insurance coverage) Are you aware of this?
Central Provident Fund Organization (EPFO) Insurance cover is provided to the members by the Central Government. Employed class has PF account. They get free insurance. Employees Deposit Linked Insurance Scheme 1976 (EDLI) This insurance is available internally.
Insurance at very low cost EDLI Under this scheme, the heirs of the member get insurance coverage ranging from Rs 2.5 lakh to Rs 7 lakh. The maximum insurance cover under this plan is Rs 7 lakh.
Families of employees working in one or two companies within a year and having a PF account are benefited from this scheme. The heir can file a claim for insurance under the scheme.
All public and private sector banks provide insurance cover on their debit cards. It offers different types of insurance coverage. It provides insurance coverage on personal accident protection, purchase protection, permanent disability. Insurance coverage up to 10 lakh is provided on this.
The credit card holder also gets the benefit of this insurance. They get protection on accident insurance, travel insurance, loan insurance and purchase insurance. The amount of insurance coverage varies depending on the bank’s policy on credit cards of different banks.
Often investors investing in mutual funds do not know that their investments are also covered by insurance. Many fund houses offer this facility. Insurance Products with SIP (SIP Plus Insurance Product) This is the name of the scheme.
ICICI Prudential Mutual Fund of SIP Plus, Aditya Birla Sun Life Mutual Fund of Century Fund Many other fund houses also provide this type of insurance cover. It provides insurance coverage up to a maximum of Rs 50 lakh.
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