- Account holder who falls in the age group of 18 to 59 years can avail life insurance cover of Rs. 1 lac from the reputed LIC of India.
- Premium applicable is quite low.
- The process is not very complicated and the insurance cover is immediately applicable once the account holder has signed the Consent-Cum-Authorization letter.
- The account holder is also eligible to enjoy tax benefits.
- The claim settlement procedure is also very straight forward.
- The possibility of lapse of policy cover is negligible as the premium can be directly debited from the account.