Karnataka Bank has introduced a group personal accident insurance scheme, KBL Suraksha, for the bank’s savings bank customers. The scheme will be operated in association with Universal Sompo General Insurance Company. All the bank’s savings bank account holders in the age group of 18 to 70 years can subscribe to this scheme by paying a nominal annual premium of Rs 100 for Rs 10 lakh and Rs 50 for Rs 5 lakh coverage and the policy can be renewed up to the age limit of 75 years. Provision is also made available for auto renewal of the policy with appropriate standing instruction. The bank’s privileged SB account holders (Platinum, Money Ruby) will get this insurance coverage free of cost. The scheme will come into effect from 1 January 2016.
