FD & COVID-19 insurance cover: Yes Bank, Yes Bank starts insurance with FD+COVID-19. So how can you claim it?
- In the case of positive testing, this FD+COVID-19 insurance cover allows the insured to claim 100% of the sum insured.
- Regardless of the number of FD booked, customers may use only one policy coverage against their FDs.
Yes Bank, has announced the launch of a cover for FD+COVID-19 for new fixed deposit (FD) holders in partnership with Reliance General Insurance. The lender said in a statement that persons investing in Rs 1 lakh FDs at an interest rate of 7.25 per cent for at least one year and more from 15 May 2020 until 30 June 2020 can make use of this offer.
“With this unique dual proposition, Yes Bank FD holders can stay covered for COVID-19 expenses, while continuing to earn on their savings. The insurance cover provides lump-sum benefit of Rs 25,000 to beneficiaries on being tested positive for COVID-19,” it said.
In case of positive testing, this FD+COVID-19 insurance cover allows the insured to claim 100% of the sum-insured. The insurance certificate offered by Reliance General Insurance shall be issued to the FD holder for a payment made with the bank and for a period of one year shall, according to Yes Bank, pay the premium for such customers.
Regardless of the number of FD booked, customers may use only one policy coverage against their FDs.
“Every resident account holder aged three months to 60 years can either book new FDs digitally or contact his relationship manager or branch service team,” added the bank.
FD & COVID-19 insurance cover: Yes Bank