General Insurance

Bank is tied up with two major general insurance company to service our customer general insurance needs. They are :

It is a Public - Private Partnership in Indian General Insurance Industry. Other than normal general insurance product, USGIC is designed a special Health Insurance product for Karnataka Bank customers and it is named “K Bank Health Care Plus”.

Bajaj Allianz General Insurance is a private general insurance company in India. The company is a joint venture between Bajaj Finserv Limited owned by the Bajaj Group of India and Allianz SE, a German financial services company. It offers Motor Insurance, Health Insurance, Travel Insurance, Home Insurance, Marine Insurance etc.

The glimpses of the General Insurance Products offered are:

Motor Insurance
Fire Insurance
Personal Accident Insurance
Engineering Insurance
Liability Insurance
Travel Insurance
Health Insurance
Marine Insurance

“KBL – Suraksha” is a unique Personal Accident Policy providing financial securities to the family members of our SB Account Customers. M/s Universal Sompo General Insurance Co Ltd,(M/s USGICL) is providing this insurance cover for accidental death. All the Bank’s SB account customers in the age group of 18 to 80 years can subscribe to this scheme by paying a nominal annual premium of Rs.300 (including GST) for Rs.10 lakh & Rs.150 (including GST) for Rs.5 lakh coverage and the policy can be renewed lifelong. Provision is also available for auto renewal of the policy with appropriate mandate facility. This novel scheme is in force since January 01, 2016.

Bank is a Corporate Agent for M/s Universal Sompo General Insurance Co Ltd and Master Policy Holder of the KBL Suraksha Policy. The underwriting of risk, premium charges, and payment of claims is as per the policy terms and conditions of the Insurer.

Information regarding KBL Suraksha Policy Renewal. Click here


Pradhan Mantri Suraksha Bima Yojana (PMSBY) scheme was launched by the Honourable Prime Minister on 9th May 2015 with an aim to create social security among public. Accordingly, Bank introduced the social security scheme to its customers.

The PMSBY scheme covers death due to accident or handicapped for life due to accident cases, subject to the scheme conditions. Any Individual between the age group of 18 to 70 can enrol into the scheme by paying a nominal annual premium amount of ₹20.  The enrolled customers are eligible for Sum Assured of either of ₹200000 or ₹100000, subject to the scheme conditions. Bank has tied up with New India Assurance Company for PMSBY scheme.

Information to Customers on General Insurance Click here

For further details, please contact our nearest Branch