Rupay Card के साथ 10 लाख का INSURANCE FREE में मिलता है। How to claim?

 Intro

Previously on Labour Law Advisor

[music]

Everybody has a card

But they don't know they have free insurance too.

And if they don't know

How will they tell their nominee

That after I pass

Claim your ₹2 lakhs or ₹10 lakhs.

If you come under this category,

You should know which card you have,

How much insurance it has on it,

What the claim process is,

The hidden conditions

And how can your family claim the amount?

In just ten days?

I will make sure your family gets the money.

Welcome back! I am Money-Minded Mandeep.

[Intro Music]

First things first.

What type of insurance is this?

This is not life insurance.

This is not health insurance.

This is not a medical claim

Where you show hospital bills for reimbursement.

This is personal accidental insurance.

It has a Death Claim

Or Permanent Total Disability

You will be given a lump sum amount.

Types of Rupay Card

The Maximum Cover Amount

Is set differently for every card.

Let's look at the types of Rupay cards in the market.

The first card is Classic Card.

Then there are two Pradhan Mantri Jan Dhan Yojana cards.

One is old and one is new.

Old means issued before 28 August 2018.

New means issued after 28 August 2018.

These three are under the non-premium cards category.

The second category is premium cards.

That includes Platinum cards and Select Rupay cards.

Their insurance claims are as follows.

In the classic credit or debit card

You don't get any insurance.

It was available before

But after the financial year 2020

This has been discontinued.

The old PMJDY card has up to ₹1 lakh cover.

The PMJDY new card has a ₹2 lakh cover.

The platinum card in the premium category

Has a ₹2 lakh cover.

The Select Rupay card has a ₹10 lakh cover.

To provide you with this insurance

Rupay has tied up with two insurers.

First is New India Assurance,

Which is for non-premium cardholders.

That means the PMJDY insurance is from New India Assurance.

The premium cards, Platinum and Select,

Rupay has taken their insurance from Tata AIG.

Eligibility

I have a question.

If you have a card

Are you automatically eligible for insurance

Or do you have to pay a premium?

If there is no premium,

Are there any other conditions?

Yes, there are.

First, you don't pay a premium.

If you have a card,

You are automatically eligible.

But because of your mistakes,

You can get disqualified.

The mistakes are

The non-premium PMJDY cards

If you have not used it for 90 days,

And there is an accidental death

Or disability

You will not get insurance.

The premium cards, Platinum and Select cards

You should have one transaction in the last 45 days,

only then you are eligible for a claim.

Frequently asked doubts

There are a few ifs and buts.

There are some frequently asked doubts.

I will clear them.

Let's say you buy the card today

And have an accident after 10 days.

So you didn't get 45 or 90 days for transactions.

You didn't have transactions in these 10 days either.

In this case, the claim will not be rejected.

This is a basic concept.

The second doubt is

Since the insurance is valid from April to March.

That means, every year Rupay

Pays annual premium to New India and Tata

And your policy is renewed annually.

If there's an incident on 10th April,

Accidental death or disability,

The condition is that

The transaction should be within the last 45 or 90 days.

Let's say you made the transaction in March.

March gets counted in the previous financial year,

Will the claim be rejected or not?

It won't be rejected.

Because you have a transaction within the last 45 days

Even if it's counted in the previous year.

It will still be counted in your claim.

Another question people ask is

If our death, accident or disability

Occurs in another country

Then what happens?

You will get the claim as it has worldwide coverage.

If you noticed my words,

I said, "up to ₹2 lakhs" and "up to ₹10 lakhs".

What is with the "up to"?

You will not get the full cover in every case.

In case of death, you will get full cover.

But if there's permanent total disability

It specifies which disability gets how much claim.

As you can see here,

Permanent Total Disablement, you get 100% claim.

Total loss of two limbs, you get 100% claim.

Total loss of sight in both eyes

Or loss of sight in one eye and one limb

You will get a 100% claim.

And so on

all permutations and combinations tell you

If something happens to you

The amount of claim you will get.

How to claim?

Let's talk about how to claim?

Call your family for this too

Because it can be an accidental death claim

In which case, you are not alive

And your family has to do everything

Hence, they should know all this.

First, I will tell you the claim process for PMJDY accounts.

First thing, you can go to the bank.

The bank will tell you about the required documents,

How to fill the form and apply.

They will assist you too.

But there is an online way.

You have to send an email to rupay@newindia.co.in

You will have to attach documents to the email.

And the email sent along with the documents

Must be photocopied and courier offline to New India.

You have to file this claim within 90 days of the accident.

There may be a case where

The person is hospitalised.

They had a terrible accident

And they are the ones to file the claim.

They may be hospitalised for 90 days

And then file a claim. What will happen?

In this particular case,

The claim will be allowed.

All these documents and the email copy

Have to be mailed to the address shown on the screen.

You can take a screenshot.

But I have given the PDF below, which I'm reading from,

You can download and save it.

You have to give the claim intimation within 90 days

And once you give it

Any supporting documents the company asks for

Or are pending for you to give

You have to send them in 60 days.

Once the company has all the documents

And the investigation is complete

You will get the money through NEFT in 10 days.

After this process,

The company will appoint an investigative officer

Within three days.

The officer will have 30 days

To investigate your entire case

And prepare a report.

If there's a delay

He can prepare an interim report.

If there's a delay from your bank

Or a delay from you

Due to this, you can't send the documents on time.

New India Assurance will remind you after 60 and 81 days.

And will take follow-ups.

The PDF I am giving you

Has the email ID and numbers of important people

From New India Assurance,

Where you can escalate your case.

In case of an accidental death claim

What documents do you have to take offline

or courier and online, which you have to email.

The claim form itself,

Original or certified copy of death certificate,

Original or certified copy of FIR

Or a police report describing the accident.

Post Mortem along with Chemical Analysis and FSL reports,

whichever is applicable.

Aadhar card copies of the cardholder and nominee,

The bank which issued you the card,

Has to send you a declaration

Which should cover these four points.

If you go to a bank and request, they will give it to you.

I am showing on screen

A permanent disability claim

And what documents it requires.

The first is the claim form.

The discharge card along with case history confirmation

Therein duration and percentage of disability

Duly certified by the concerned Physician or Surgeon.

That means you should get a declaration from your doctor.

The rest are common documents that I told you about before.

You can take a screenshot

But it's better to download the PDF.

A very important thing.

Mostly, those who have a Jan Dhan account

I am assuming

They don't know English

And I found this PDF only in English

Not in Hindi.

That is why I verbally mentioned the required documents.

You can write it in the comments

I will reply to it.

And if the alert audience is watching,

Then share the video

With those who need it.

Before understanding the claim process,

One important thing.

The insurance will go on

Although it is an important part of life

But you don't get the money

Until something bad happens.

But ideally, we assume

That our life is long and healthy

And we don't think much about

Making that healthy life financially secure.

It doesn't matter

Whether we are salaried or businessmen.

Because it's like the Rabbit and Turtle story.

Most businessmen think that

They are earning enough today

And don't need to think about the future.

A lot of salaried people think

they are not earning enough today

So how do they think of a future?

If you observe like me,

In your own colony or circle

You will find salaried people

After whose retirement

You will find out they are billionaires.

You can also spot people

Who are living extravagant lifestyles today

Because they are "businessmen".

But somehow they can't save their wealth till retirement.

Money can be earned both ways.

But saving and managing that money

Which wasn't taught to us in school.

But we can't spend our entire life blaming

The school for not teaching you to save money.

If you spend 10 minutes every day,

It is not possible that

After one year the person says

They are not able to save money.

I will recommend a great book to start.

"Why Didn't They Teach Me This in School?"

It doesn't have boring talk and numbers.

It has those basic things

That a salaried person can use

To become a billionaire.

If, like me, you find it tough to read books,

Or you can't understand books in English

I am giving you the link to Kuku FM in the description.

Where this entire book's summary

Is available in Hindi as 10-minute chapters.

The first 250 users

Will get the annual subscription for ₹200.

Which you can use not only for this book

But also for the next book, "The Psychology of Money".

and thousands of other books in just ₹200.

Excuses won't work now.

While travelling or multitasking at home,

You can listen to your audiobooks.

Before you know it, you will have listened to many books.

Thanks to Kuku FM for sponsoring this video.

Now come the premium cardholders.

How to Claim - Premium Cards

The rich ones with the Platinum and Select cards

That have ₹2 lakh and ₹10 lakh insurance covers.

You have to email the claim form and supporting docs

To rupay@tataaig.com

You have to courier everything to the Tata office too.

The same within 90 days rule

And if the nominee is hospitalised

Is critical and discharged after 90 days

They can easily file their claim.

I am showing the address on the screen

But do download the PDF and read.

You must send an email and intimate the bank

To establish communication between

Your bank and your insurance company.

Because the reminders and follow-ups

Will go to your bank

And not directly to you.

This also follows the same process,

Only the insurer is different.

Earlier you applied to New India Assurance

Now you will apply to Tata AIG.

But the common rules

Of an investigator being appointed within 3 days,

The claim has to be filed within 90 days,

The first reminder after 61 days,

Will be sent to your insurer by the bank

If there's a delay in sending the docs.

All that remains the same because

It comes under the Rupay insurance program.

That means Tata and New India don't have separate conditions.

There are common rules

So it's easier for you to understand.

You are given an escalation matrix

Which has three important people

Deputy Manager, Chief Manager and Associate VP

Whose name, email ID and phone numbers are given.

So if there's a delay in your claim

And needs escalation, it can be done.

The document checklist is mostly similar.

It's on the screen. You can take a screenshot.

But do download the PDF

And read it.

So you all the rules during the claim.

This was the complete information

Things to remember

But you have to keep one thing in mind,

You can't assume this as your main accidental cover.

Because you might be getting only a ₹2 lakh cover

But you want a ₹10 lakh cover

Based on your income and the risk.

It's possible that you forgot the 45-day rule

And the claim gets rejected.

You need to ensure that

You have term insurance.

This means Life Insurance

Not the money backs, ULIPs or endowment plans.

Why not? I have made an extensive series on this.

Which got support from an alert audience like you.

So much that my interview was on TV.

The playlist link is in the description.

You need a pure term insurance

To take a 15x to 20x cover of your income.

You must have it.

Anyone who feeds their family needs it.

You can take an add-on with it.

That means a rider.

For accidental disability.

For ₹10 lakhs or ₹15 lakhs

And if you can't take it

And just have a term insurance

You can take this rider policy

From any other health insurance company

Which is much cheaper.

The second thing is

You should have family and individual health insurance.

People's lives are destroyed

Because bills go up to ₹10 lakhs and ₹15 lakhs.

The third thing is

To look around

And educate people who can't afford to pay premiums.

Share this video

Because they are getting insurance

Without paying a premium.

These people must know it.

I made a video on Saral Jeevan Bima Yojana

Where I spoke about people

Who does not get a term plan from the company

And what they can do to get life insurance up to ₹25 lakhs.

There are two Prime Minister Programs.

PMJJBY and PMSBY.

One is life insurance.

The other is accidental death insurance.

The premium is ₹12 annually.

And the other is ₹330 annually.

Tell this to people who need it.

Such as your watchman, tea boy or office boy.

They don't have any insurance.

And you have not seen a simpler application.

You go to the bank and tell them

You want the ₹12 or ₹330 insurance

And they will give you the form.

You have to fill in 4 things and, the insurance is activated.

You must tell your nominee the insurance details.

I have these five types of insurances.

This is the claim process.

If I'm not there, you have to follow this.

Because the fact of the matter is

There are ₹20,000 crores unclaimed

Which go to the company.

After listening to my lecture

If you think this is the right time to take insurance

I am giving you the term insurance and health insurance link

In the description of this video.

Before taking it,

Watch the 6-7 videos I have made on insurance.

You will find the links in the description.

The link isn't going anywhere

First, take all the information

If you want to do it online

You can use my links.

If you want it from somewhere else, it's up to you.

Only to support us

Or because I said so

Don't use forcefully use the links.

If you have confidence

And if you think I'm right

Then you can check out the link.

I will see you in the next video.

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