SBI Account Holder Avail 4 Lakh Accidental Insurance

State Bank of India, the largest bank of the nation, has recently introduced cheapest accidental insurance of Rupees 4 lakhs for SBI savings bank account holders. Under this insurance scheme, by paying an annual premium of Rs. 100 only every SBI Savings Bank accountholder may avail accidental coverage of Rupees 4 lacs from SBI General insurance provider.

How SBI Launched Accidental Insurance for Accountholders

SBI has launched this scheme with tagline “Your family’s happiness is priceless Protect it”. SBI General’s Group Personal Accident Insurance policy has provided facility to get Rs. 4 lakhs sum assured for an annual premium of Rs. 100/- only. It is issued under the group personal accident insurance master policy issued to SBI covering savings bank accountholders.

How to avail SBI’s Accidental Insurance Scheme

The process to avail SBI’s accidental insurance policy is quite simple.
  • SBI savings bank accountholder needs to visit his servicing SBI branch and has to fill up a form by which accountholder permits SBI to deduct Rs 100/- from his savings bank account.
  • After 1-2 days, the policy document and premium paid receipt could be collected from the Branch. In the policy document so received, the accountholder has to fill up nominee details as well as some other important information. After furnishing the details he/she needs to put a signature in the form.
  • After all formalities are done, the account holder would finally get one copy of the SBI General’s policy document.
This way, Rs 4 Lakhs accidental insurance facility is availed by SBI savings bank account holders.

Key Features of SBI Accident Insurance for Accountholders

The key benefits or features of SBI General’s Group Personal Accident Insurance Policy for SBI account holders are:
SBI General’s Group Personal Accident Insurance Policy covers,
  • Loss of Life due to accident
  • Disabilities due to accident

Eligibility to buy SBI Accidental Insurance of Rs 4 Lakhs

The Group Personal Accident Insurance Policy can be bought fulfilling the following criteria:
  • He/She must be a permanent Indian resident.
  • He/She must have a savings bank account in SBI.
  • He/She must be aged between 18 years to 65 years.

Sum Assured and Premium for this Policy

The Sum Assured is Rupees 400000/- and the annual premium is Rupees 100/- for SBI Personal Accidental Insurance facility for SBI savings bank account holders.

Scope of cover and Table of Losses for this Policy


The policy pays for accidental death and permanent total disability by sudden accidents.

Table of Losses:

Loss% of Sum Assured
Accidental Death100%
Under Permanent Total Disablement 
(Loss of): 
Both hands or both feet100%
Sight of both eyes100%
One hand and one foot100%
Either hand or foot and sight of one eye100%
Speech and hearing in both ears100%
Either hand or foot50%
Sight of one eye50%
Speech or hearing in both ears50%
Hearing in one ear25%
Thumb and index finger of same hand25%

How this Policy will be Issued

This policy will be issued to State Bank of India’s savings bank account holders, if opted, under the Group Personal Accident Master Policy Number 68100-0000-00 issued to State Bank of India. The SBI account holders can visit nearest SBI Branch for understanding the benefits under this policy.

Should you Avail this Policy

Yes, you must avail this policy. If you are a savings bank account holder of State Bank of India and between 18-65 years of age, you must avail this accidental insurance policy. Think, for rupees four lacks of personal accidental insurance the actual premium charges should be near about Rs. 400/- but SBI provided you this insurance for just Rs. 100/- only. So, you are getting nearly 75% discount in premium amount compared to actual premium charge. I also have my own savings bank account in State Bank of India and have already availed this insurance facility. The whole process completed in 2 days only and I have received my policy document too.

More Information on this Policy

If you need more information on State Bank of India account holder’s personal accidental policy you can call toll free numbers 1800-22-1111 or 1800-102-1111. Alternatively, you can log in to

Hence it is highly recommended for savings bank account holders of SBI to avail personal accidental insurance coverage facility of Rupees 4 lakh as soon as possible by visiting SBI branch. Also, if you have already availed this facility do share about this for the benefit of other savings bank account holders of State Bank of India.

{ 26 comments... read them below if any or add comment }

Unknown said...


Anonymous said...

Sir i took that policy and my nominee name is k lakshmi and i wrote bhagya lakshmi. How to change nominee name

Anonymous said...

sbh , Ramachandrapuram branch is not accepting accidental insurance policy form. they are saying that we r not having facility in this branch. Plz let me know all the branches are facility to apply accidental insurance policy. plz mail me :

Unknown said...

Thank you sir, only spelling mistake in your website address. It should be

Unknown said...

Thanks sir....
only thing website address should be

pankaj-tips said...

Dear Amit Kumar, thanks for pointing the error in the web-site address. Hence, the erroneous website address is now corrected to

Anonymous said...

ok.sir thanks

have a nice day

Anonymous said...

sir will you tell me the maximum period for the policy. you didn't tell about this in your features

Unknown said...

thanks for this oppertunity for SBI account holders
like it

Unknown said...

thanks for this oppertunity for SBI a/c holders
like it

Anonymous said...

sir i am mohan g .. will your policy will cover small accident small operations or only loss of our body parts? .after taking this policy will u provide any card i,e like driving license because in case of emergency we should show it to hospital na... and one more thng ,is thr anything like that we should admit to govt hospitals only or we can for others also?

rajesh r nair said...

MOHANji gud qustn..........

Anonymous said...

My SBI saving A/C No. is10422815874. I applied for S B I General personal acci-
-dental insurance policy on 15.05.13 vide Journal No.018954381. Till now I have
not received the policy certificate.
Dr.Nalini Kant Choudhary,
JE 1,Road No. 2,Project 3
Vastu Vihar, Chira Chas,Bokaro.827013 8987490117

Admin said...

We hope soon you will get the certificate by sbi.

Anonymous said...

Dear Sir,

My father expired a few days ago, do u know if icici bank also gives some similar kind of insurance?

Unknown said...

Premium Rs. 100/- se badhakar Rs. 200/- kar diya he SBI valone.

Unknown said...

Dear sir,
My mom had an SBI account with accidental insurance cover,now she is no more because of heart attack,can i claim for this accidental insurance policy.

Unknown said...

Dear sir,
My S.B.I account number A/C No-11126199068.I applied for S.B.I general personal accidental insurance policy on 13.12.12vied journal No- 018702370.Till I have not received the policy certificate.

Probir Sarkar
Subhaspally P.o-Suri Dist- Birbhun, State-W.B
Mobile no-9732227188
Email -

Unknown said...

Dear Sir,
My father expired on 27.09.2013 injured an road accident on 14.09.2013.He paid 100/- in SBI Vazhapadi on 06.12.2012 (INSURANCE PREMIUM TRF TO PREMIUM COLLECTION ACC). I think for Group personal accident policy. I want to claim the amount, But i don't have the certificate of policy. I tried through on line on 01.02.2014. my SR no. 2178.(Master policy No.68100-0000-00 or 137300-0000-00). Please help me to get the policy. Thank you.

R NHUDDA said...

sir i m ramniwas choudhary jodhpur &my brother karna ram joint branch gangani 08868 P.A.I.IYA HAI MERE BHAI KA SUDDENLY DEATH HO GAI HAI WHAT I DO /

sandhya said...

Sir can u tell how to renew this policy online..?? N yes i also did not get any policy certificate..!!

Unknown said...

Dear Sir,
I am an Nre a/c holder for State bank of travancore, i am eligible for this insurence policy. if ok i can apply online ?
awaiting your reply.
thanking you

Anonymous said...

Quick queries:
1. Are all joint holders of SB account covered in the policy?
2. How is policy renewed?

If possible, kindly send reply on too.

Best regards, RAKESH

Anonymous said...

Respected Sir, I have heard 100/- premium for 4 lacs term but banker's saying 500/- premium for 10 lacs term..... is this correct?

pankaj-tips said...

yes recently SBI has revised the Premium Amount and SUM Assured (Insurance Amount).

pankaj-tips said...

This policy of SBI can't be renewed online by now. But you can visit your State Bank branch and re-fill the proposal form for accidental insurance.

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