All RuPay ATM-cum-debit cardholders are presently eligible for accidental death and permanent disability insurance cover. RuPay Classic cardholders are eligible for cover of Rs.1 lakh, whereas RuPay Premium cardholders are eligible for cover of Rs.2 lakh. Insurance premium is paid by the National Payments Corporation of India. 872 cardholders received insurance claims during the financial year 2016-17.
This was stated by Shri Santosh Kumar Gangwar, Minister of State for Finance in written reply to a question in Lok Sabha today.