80 Plus Deposit scheme was launched on 1st January 2009 to commemorate the 80th anniversary of the bank. This product with higher yeild was offered for a limited period up to 31/03/2009. FREE accident death insurance cover up to Rs. 1 lac per individual aged up to 70 years, was an added attraction to this product. The deposit was accepted for a period of 39 months and the accident death insurance cover is available to the individual customers till the pre-closure / maturity of the deposit. Frequently asked questions on the insurance cover and the claim procedure are given below for the ready reference of our valued customers. If you need any clarification, kindly contact us by Email : sibcorporate@sib.co.in or by telephone : 1800 843 1800 (Toll Free India).

 FAQs on 80 Plus Deposits

For whom is the insurance cover applicable? 

Any individual, holding Eighty Plus Deposit, of less than 70 years of age as on date of deposit, is eligible for the insurance cover. However, in case of joint account, the First Named person will be covered.

Whether individual policies will be sent to the customers?

No. This is a group insurance policy, where the Bank pays / renews the premium.

If a depositor has multiple deposits, as first applicant, (at the same branch or in other branches), under this scheme can the insurance cover be compounded?

No. Maximum eligible cover is Rs. 1 lakh.


On death of the insured, who will be eligible for claim?

Legal heirs of the insured (the 1st applicant). 


What is the procedure to lodge the claim?

In case of a tragic death by accident, the legal heir(s) of the insured should intimate the Insurance Company in the address below. The Claim Form is to be duly filled and submitted to Bajaj Allianz with other necessary documents (FIR, Post Mortem report, Certificate showing proof as Legal Heir(s), Photo identity proof of legal heir(s), etc. as required by the Insurance Company). Please click on the links given below to download the claim form.

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Mr. Ganesh G. R.
Asst. Manager (Claims)
Bajaj Allianz General Insurance Co. Ltd.
Door No. 11, 3rd Floor, People’s Park,
Govt. Arts College Road,
Coimbatore – 641 018.
Phone: 0422 - 4392345

or

Mr. Saju Chandradasan
Deputy Manager (Technical)
Bajaj Allianz General Insurance Co. Ltd.
Door No. 11, 3rd Floor, People’s Park,
Govt. Arts College Road,
Coimbatore – 641 018.
Phone: 0422 – 4392345




DISCLAIMER: "The South Indian Bank Limited" at any time is not liable to pay to the customer the amount claimed.

Terms of Insurance Policy