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RuPay Insurance program

Important Notice

RuPay Card Scheme is a network set-up to provide secured, robust, scalable, simple, transparent, inclusive, user friendly and affordable solutions to entities to issue cards in India. NPCI introduced a unique feature of insurance for PMJDY Cards upto Rs. 1 Lakh* (Accounts opened till 28-08-2018) & upto Rs.2 Lakhs* (Accounts opened after 28-08-2018) and for Platinum Premium cards upto Rs.2 Lakh* as accidental death or permanent disability only. Insurance partner with NPCI for RuPay PMJDY Card is The New India Assurance Company Ltd* and RuPay Platinum card is TATA AIG General Insurance Company Ltd*. to whom insurance claim may be sent through concerned branch where RuPay cardholder has an account. The Insurance coverage program for both PMJDY & Platinum Cardholders has been extended upto March 31, 2023*. Extension of Insurance program beyond aforesaid period will be communicated by NPCI before the expiry of current period. Following are the details of the said Insurance Program:-

(*Subject to change by NPCI)

Sailent Terms and Conditions:

  • Only PSB Rupay PMJDY Card holders & Rupay Platinum Card holders will be eligible for the benefit under the Insurance Program.
  • RuPay cardholders will be eligible for the compensation of only 1 eligible RuPay card per cardholder or per customer, even if multiple cards of different bank are meeting the eligibility criteria. The choice of the card for the claim would rest with the customer.
  • Compensation of Insurance benefit will be made to the eligible bonafide beneficiary, as per the law of the land, on submission of complete documentation set prescribed under Procedure for Claim.


Procedure for Claim

  • Claim for insurance against policy will need to be submitted through the Card Issuing Branch. NPCI has made this arrangement as a value added offering on RuPay Card for PMJDY & Platinum Card Holders, however process provision have been made whereby member banks are required to register the claims directly with New India Assurance Company Ltd. or TATA AIG General Insurance Company Ltd, whichever applicable as per claim process enclosed.
  • The enclosed document i.e. Claim process, FAQs, Claim Forms and Policy Wording may be referred in order to communicate the features to channels and RuPay cardholders


Sr. No. Annexure Document Name Remarks
i Claim Process Claim Process PMJDY Card 
Claim Process Platinum Card 
For use of Banks for internal and customer education
ii Frequently Asked Questions (FAQs) Frequently Asked Questions (FAQs) PMJDY Card 
Frequently Asked Questions (FAQs) Platinum Card 
For use of Banks for internal and customer education
iii Claim Form Claim Form PMJDY Card 
Claim Form Platinum Card 
iv Declaration Form Declaration form PMJDY Card 
Declaration form Platinum Card 

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