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General Insurance

General Insurance

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

universal-sompo
It is a Public - Private Partnership in Indian General Insurance Industry. Karnataka Bank is holding 15 % of the stake in the company. 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-alliance
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

At Karnataka Bank, we look at Insurance as a means to the total protection of your family and your assets.A step towards providing financial security to the family members of Savings Bank (SB) customers, Bank has launched Group Personal Accident Insurance Scheme under the scheme name “KBL Suraksha” which provides insurance cover for accidental death. All the Bank’s SB account customers between the age group of 18 to 70 years can subscribe to this scheme by paying a nominal annual premium of ₹125 for ₹10 lakh & ₹62 for ₹5 lakh coverage and the policy can be renewed upto the age limit of 75 years. Provision is also available for auto renewal of the policy with appropriate mandate facility. This novel scheme is effective from January 01, 2016.


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 ₹12.  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.

For further details, please contact our nearest Branch