SBI’s PAI comes to the rescue of the family of deceased Savings Bank account holder – Wife gets Rs.20.00 Lakhs on payment of premium of just Rs.1000/-

Chandigarh – 10th August 2018: Within two weeks of settlement of the claim under PAI (Personal Accident Insurance) of Rs.4.00 Lakhs of one of our deceased Savings Bank account holder Sh. Amandeep Singh, which was reported in the newspapers on 24.07.2018, the Bank has once again provided big financial support to the legal heirs of another Savings Bank account holder of the Bank under PAI.

In the instant case, one of our Savings Bank account holder met with an accident and died. Since the account holder had purchased a PAI policy by paying premium of Rs.1000/- only, the Bank has paid a sum of Rs.20.00 Lakhs to the wife of the deceased as per the policy. At the request of the family of our account holder, we are not disclosing the name of the beneficiary and the branch.

While the Bank wishes all its customers and account holders  a long and healthy life, it is also a fact that a large number of accidents do take place every day. Many of the accidents are fatal wherein the only bread earner of the family dies leaving the family in dire straits. However, the Savings Bank account holder of SBI can ensure to mitigate the financial hardships of their family in such an unfortunate and tragic situation. The Bank urges all its Savings Bank account holders to get themselves insured under PAI.