SBI Card to discontinue Rs 1 cr air insurance on these cards: Check list

Complimentary benefit ends on August 11; SBI Card customers are advised to check new terms

SBI Card will on August 11 discontinue complimentary air accident insurance cover of up to Rs 1 crore for a wide range of co-branded credit cards.

 

Earlier this month, the company withdrew air accident insurance benefits on SBI Card ELITE, SBI Card PRIME and other cards.

 

Who is impacted?

 

The new announcement will impact variants of ELITE and PRIME cards, which are offered in partnership with public and private sector banks. These complimentary covers were one of the major perks associated with premium card offerings.

 

List of SBI cards losing Rs 1 crore insurance benefit:

 

• UCO Bank SBI Card ELITE 
• Central Bank of India SBI Card ELITE 
• PSB SBI Card ELITE 
• Allahabad Bank SBI Card ELITE 
• Karur Vysya Bank (KVB) SBI Card ELITE 
• KVB SBI Signature Card

List of SBI cards losing Rs 50 lakh insurance benefit:

 

• UCO Bank SBI Card PRIME 
• Central Bank of India SBI Card PRIME 
• PSB SBI Card PRIME 
• KVB SBI Card PRIME 
• KVB SBI Platinum Credit Card 
• South Indian Bank SBI Card PRIME 
• South Indian Bank SBI Platinum Credit Card 
• Karnataka Bank SBI Card PRIME 
• Karnataka Bank SBI Platinum Credit Card 
• City Union Bank SBI Card PRIME 
• Allahabad Bank SBI Card PRIME 
• UBI SBI Platinum Credit Card 
• OBC SBI Visa Platinum Card 
• Federal Bank SBI Platinum Credit Card 
• Bank of Maharashtra SBI Platinum Credit Card

 

What has changed already

 

Earlier in July, SBI Card air accident insurance cover from its own-branded cards, including:

 

• SBI Card ELITE 
• SBI Card Miles ELITE 
• SBI Card Miles PRIME 
• SBI Card PRIME 
• SBI Card Pulse

The Rs 1 crore and Rs 50 lakh insurance covers were provided free of cost and did not require any separate application. Cardholders relying on this complimentary insurance should now consider buying a standalone travel or personal accident insurance policy if air travel risk coverage is important. It’s also advisable to check your card's updated terms and conditions or speak to customer service to understand the full implications.