Ensure family of those died in train accident get benefit of PMJJBY& PMBSY :AIBEA urges IBA

Hyderabad, June 10 : All India Bank Employees’ Association (AIBEA) on Saturday urged Indian Banks’ Association Chief Executive, Mumbai to ensure that family of those died in the recent train accident in Odisha get the benefit of Union Government’s Schemes Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMBSY).

In a letter to IBA Chief Executive Sunil Mehta, AIBEA General Secretary Ch Venkatachalam said to ensure that the family of those who died in the accident get the benefit of these schemes, a special alert can be made available in the Bank account in the CBS system.

He said that when the nominee/family of the deceased person comes to the Bank to wind up the account or to delete their names from the joint account, the alert would help the Branch staff to inform the nominee/ claimants that the deceased account holder was a subscriber to the insurance scheme which will help them to initiate the process to claim the amount.

Mr Venkatachalam said the PMJJBY and PMSBY are being extended to the account holders of the Banks.

Banks do auto debit from the Accounts of the account-holders towards the premium payable for these policies.

Under these policies, the family of the victims are eligible to claim the insurance amount incase of death or death due to accidents or even loss of limbs in such accidents.

He said since separate Insurance Policies are not being issued to the account holder who are members of these Schemes, the family members are mostly unaware that the deceased person had subscribed to these Insurance Schemes and hence are eligible to claim the insured amount.

Hence these benefits will remain unclaimed.

‘We urge upon the IBA to examine this and put in place a system immediately,’ the top Union leader added.

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