| AB Jeevan Abhaya |
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| AB Jeevan Abhaya is a Savings Bank Account launched in association with M/s IndiaFirst Life Insurance Co. Ltd., which provides Group Life Insurance Cover with Accident Death Benefit. |
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 1. What is "AB Jeevan Abhaya" Savings Bank Account? |
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"AB Jeevan Abhaya" is a Savings Bank Account that provides Group Life Insurance cover and Accident Death Benefit. |
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2. Who can open AB Jeevan Abhaya Savings Bank Account?
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The Scheme is open to all those who are in the age group of 18 to 55 years.
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| 3. What is the sum assured? |
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The sum assured is Rs.1,00,000/- in case of normal death and accidential death also.
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| 4. Do the person has to undergo any Medical Check-up? |
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No Medical Check-up is required except a simple Health Declaration Form. |
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| 5. Do the person has to give Proof of age? |
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Yes. Proof of age is required if there is a claim.
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6. Do the person get any Policy certificate and any Surrender Value of the Policy?
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No individual Policy will be given as this is a Group Policy and there will be no surrender value.
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7. Who will settle the Claims?
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Settlement of claims is done by M/s IndiaFirst Life Insurance Co.Ltd., at their sole discretion and our Bank will only act as a facilitator..
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8. Can a person include his Family members in the Scheme?
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Yes. By opening a joint account and on payment of premium applicable for each joint account holder. |
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9. What is the premium payable?
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The premium is payable per annum according to three Age Groups:
| Age Group |
Premium Payable |
| 18-35 |
227/- |
| 36-50 |
386/- |
| 51-55 |
786/- |
*Administrative charges are Rs.40/- per head P.A. and service tax applicable, which are system generated
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10. What is the Insurance year?
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The insurance year is from 1st December to 30th November every year |
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11. What is the claims procedure?
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Intimation of death to be given to the Insurance Company within 90 days and the duly filled in claim form along with necessary documents to given to Insurance Company within 180 days through our Bank.
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| Service tax on service charges as applicable from time to time |
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