Utility Schemes

United Suraksha Yojana

United Bank of India offers Insurance compensation to cover accidental death to its depositors at nominal cost.

United Bank of India has entered into a tie-up arrangement with Bajaj Allianz Insurance Co. Ltd. to offer coverage against accidental death or permanent total disability for a sum of Rs. 1.00 lakh and Rs. 1.25 lakhs respectively, to Bank’s Deposit Account holders, both existing and new customers. The scheme is titled “United Suraksha Yojana”.

Eligibility:

All existing and new SB/ CD/ TD account holders will be eligible for coverage under the Group Insurance Scheme of Bajaj Allianz. The account holders have to pay premium of Rs. 13/- only per annum and have to furnish their consent by signing proposal form as per Annexure attached. Customers may use the application form after downloading the same from our website. The proposal form along with other information like claim procedure, amount of coverage, etc. regarding the Group Insurance Scheme will be made available to the customers from all our branches.

In case of Term Deposit account holders the annual premium is to be paid by debiting Savings /CD account of the account holder. If Term deposit account holders do not have SB or CD account with the branch and desires to join the scheme they may be requested to open SB or CD account or they may be allowed to deposit the premium in cash which is to be kept in Deposit Suspense A/c till the amount is remitted to the Bajaj Allianz.

In the event of multiple accounts maintained by single person and opted for insurance under more than one and/ or all such accounts, then in the event of any valid claim arising under the policy, the benefit of insurance will become payable under each account as opted for individually. (For the purpose of clarity in case there are three accounts under one single/ joint names and insurance premium is paid under all the accounts, then in the event of a valid claim arising under the policy, an amount of Rs. 3 lacs will become payable as the claim amount. The claim amount will be paid to the nominee of the account as per bank details).

Benefit to the Customers:

1. Individual customer opting for coverage under this scheme shall have to pay Rs. 13/- (inclusive of service tax) which is a special rate offered to our Bank by the Bajaj Allianz.
    
2. The entry age under the proposed Group Insurance Scheme is limited to 80 years instead of usual age of 65 years if applied for coverage independently.
    
3. In respect of settlement of claims, the Bank may act as a facilitator if it is not settled within a reasonable period, which will be an added facility to the customers/ claimant.
   

Personal Accident Insurance Cover for the Depositors

The maximum coverage will be in case of death Rs. 1.00 lakh and in case of permanent disability Rs. 1.25 lakh as per details given hereunder:

Additional Benefits

Bajaj Allianz Co. will reimburse transportation cost at actual or Rs. 2000/- whichever is lower from the place of death to a hospital, cremation ground or burial ground. In case of multiple coverage also the additional benefit will be limited to Rs. 2000/- only.

What the Insurance Company will not Pay

Some of the important exclusions under the policy are as follows (as may be mentioned in the policy documents for exact wording of exclusions which will only hold good for all purpose).

1. Accidental bodily injury that an account holder meets with–
   

1. Through suicide, attempted suicide or self-inflicted injury or illness.
    
2. While under the influence of liquor or drugs.
    
3. Through deliberate or intentional, unlawful of criminal act, error or omission.

2. Venereal and sexually transmitted diseases.
    
3. HIV and/ or any HIV related illness including AIDS and/ or mutant derivatives or variations thereof, however caused.
    
4. Pregnancy, resulting child birth, miscarriage, abortion, or complications arising out of any of these.
    

MODUS OPERANDI OF COVERING THE ACCOUNT HOLDERS UNDER THE POLICY

1. Individual eligible for opening SB/ CD/ TD A/c. and is/ are under the age group as mentioned below will be covered under this scheme.
    
2. The entry age will be limited to 80 years.
    
3. Premium towards insurance will be borne by individual account holders.
    
4. Each of the proposed group personal accident policy will be valid for one year. For renewal the branch will act as per the relevant clause of the proposal form for United Suraksha Yojana.
    
5. SB/ CD/ TD A/c holders coming under this scheme will get coverage for one year from the period as mentioned below.
   
    

   Proposal received from 1st day to 15th day of a month by the Branch	Coverage will be given from the 1st day of the following month
   Proposal received from 16th day to last day of a month by the Branch	Coverage will be given from 15th of the following month

6. In case of any claim, the depositor will directly approach the Insurance Company for settlement. Hence, there will be no need for routing the claim proposal through our branches/ offices.
    
7. The Bajaj Allianz will settle the claim within 15 days from the date of receipt of claim with requisite papers/ certificates from the insured/ assignee. In case of non-settlement within 15 days the same may be referred to the respective branch of our Bank from where the proposal was originated, who in turn, will take up the matter with Bajaj Allianz for such settlement.
    

Claim Procedure

In the event of claim, written intimation must be given by the insured/assignee to the nearest office of Bajaj Allianz or the claim can be reported on company’s toll free number at 1-600-225858. Upon receipt of the intimation of claim Bajaj Allianz will depute its investigator and process the claim. Copy of the claim format is annexed. Branch can also act as a facilitator in case of need.

10B, O.C. Gangulay Street,
Macmer House,
Kolkata – 700 020.
Tel.No. (033) 2281-6555
Fax No. (033) 2281-7500

Information required at the time of notification of claim

1. Master Policy Number (To be furnished by Bajaj Allianz)
    
2. Name, Address, Phone Number, E-Mail Address (if any) of the insured/ assignee.
    
3. Date and time of accident.

Documents required for finalizing the claim

1. All communications need be sent to Bajaj Allianz General Insurance Company Ltd., Kolkata Regional Office addressed to the Regional Manager.
    
2. United Bank of India will not be liable or responsible for any money payable under the claims made under the policy and Bajaj Allianz General Insurance Company Limited will singly & solely deal such matter.

BANCASSURANCE

Bank is selling life insurance & non-life insurance products through its branches across the country.

For life insurance, the bank has a tie-up arrangement with Tata AIG Life Insurance Company Limited and acts as its corporate agent to sell its various insurance products, viz.-

1. Term Insurance Plans
2. Endowment Insurance Plans
3. Child Care Plans
4. Retirement Plans
5. Medical Insurance Plans
6. Home Loan Insurance
7. Education Loan Insurance

Similarly Bank has a tie-up arrangement with Bajaj Allianz General Insurance Company Limited to sell general insurance products, viz.-

1. Burglary, Theft & Fire Insurance
2. Tractor Insurance
3. Livestock Insurance
4. Commercial Vehicle Insurance

The Bank has a group insurance tie-up arrangement with SBI Life Insurance Company Limited for insuring its housing loans.

For details of the products, please contact your nearest Bank's branch or visit the Website of the respective companies-

The Bank has also signed an MoU with UTI AMC Private Limited and HDFC Asset Management Company Limited for selling mutual fund products through its specifically designated branches across the country.

For details of the products, please contact your nearest Bank's branch or visit the website of the respective companies-