Canara Bank hands over Rs 46 lakh insurance benefit

Metro India News | Hyderabad 

Canara Bank has reaffirmed its commitment to providing financial security to customers through the insurance benefits linked to its Premium Payroll Account by extending a total insurance benefit of Rs 46 lakh to the nominee of a deceased account holder.

The bank handed over the insurance claim following the accidental death of Neela Bai, who maintained a Premium Payroll Account at Canara Bank's Mozzam Jahi Market branch.

Under the insurance coverage attached to the account, her nominee, K. Laxman Naik, received Rs 40 lakh under the Personal Accident Insurance scheme. In addition, the family is also entitled to receive Rs 6 lakh under the Term Life Insurance cover, taking the total financial assistance to Rs 46 lakh.

Expressing gratitude to the bank, Laxman Naik said the insurance support had provided much-needed financial relief to the family during a difficult time. He appreciated Canara Bank for offering value-added banking services that go beyond conventional banking and provide meaningful financial protection to customers and their families in times of crisis.