CashGuardPlus covers you against the risk of your cash and valuables being snatched through armed hold-ups or burglaries within 60 minutes from ATM transaction / Branch withdrawal time or within a radius of 1.5 km from an ATM or Bank Branch, whichever comes first. This insurance cover is provided by Jubilee General Insurance Company Limited.
CashGuardPlus offers you the benefits of double protection. On withdrawal of cash from any NIB Bank Branch or ATM, avail insurance coverage of cash along with additional coverage of other valuables against burglaries or mugging attacks.
|Option/Coverage||Per event and in aggregate limit||Premium Charges
|Per Event||Per Year|
|Rs. 20,000/-||Rs. 40,000/-||Rs. 3,000/-|
|Other Valuables||Rs. 25,000/-||Rs. 25,000/-|
Insurance coverage is active for 60 minutes and within a radius of 1.5 km after withdrawal from any ATM or NIB Bank Branch, whichever comes first.
The policy covers you for actual amount of cash withdrawn from an ATM up to maximum Rs. 20,000 in case of a single insured event and up to maximum Rs. 40,000 during 12 months from the date of enrollment. Additionally it also covers the actual value of valuables lost in connection with the insured event up to maximum Rs. 25,000 during the policy period *(maximum one event).
You will receive a payment for the amount of loss sustained by you minus the claim administration charges. Insurance can be terminated at the request of the customer. The Bank will deduct the service charges for the current month if you wish to terminate the services. The service charges for the insurance coverage will be deactivated in accordance with the insurance policy.