Andhra Bank
Skip to navigation | Skip to main content

Toll Free Number : 1800 425 1515


  • AB Jeevan Abhaya “DOUBLE PLUS” is an exclusive Savings Bank Scheme extending Group Life Insurance Coverage of Rs. 5 Lakhs to the account holder at nominal premium rate.
  • This is One Year Renewable Group Term Insurance Policy which covers death due to Natural causes and Accident provided in association with M/s IndiaFirst Life Insurance Company Ltd.
  • Persons who are in the age group of 18 yrs – 55 yrs on last birthday can open AB Jeevan Abhaya “DOUBLE PLUS” account
  • No medical examination has to be undergone by the persons.
  • A Simple Declaration of Good Health Form should be filled up. However, persons having adverse health declaration (defined in Declaration of Good Health Form) are not eligible to open the Account.
  • Nominal Premium rates will be collected from the account every year depending on the age of the person. In case of Joint accounts coverage can be extended on payment of premium applicable for each of the Joint account holders.
  • Premium Rates ( inclusive of service tax) for Insurance Year 01.07.2014 to 30.06.2015 :

  • Age Group Premium Amount Per Head Per Annum (`)
    18-35 885/-
    36-50 1746/-
    51-55 4142/-

  • Depending on the month of opening the account, proportionate premium will be collected from the account when a new account is opened. Subsequently, annual renewal premium will be collected on or before 30th June every year subject to revised premium rates.
  • AB Jeevan Abhaya “DOUBLE PLUS” account can be operated just like any other Savings Bank Account. Add on facilities like Personalized Cheque Books / Debit cards / Internet Banking / SMS alerts / Mobile Banking / IMPS/ RTGS –NEFT/ email registration can also be availed.
  • In case of multiple accounts under AB Jeevan Abhaya “DOUBLE PLUS”, only one account will be eligible for coverage.
  • Tax benefits on premium under Sec 80C & Death benefit under Sec 10 (10D) of IT Act 1961.

  1. If a new member (whether sane or not) commits suicide within one year from the inception of membership, the Insurance Company shall pay 80 % of the premium paid towards the scheme to the Nominee and no other Death Benefit will be payable. This exclusion will not be applicable for continuing members who have paid the subsequent years’ premium regularly.
  2. The Company will not pay the Life Insurance Benefit if it is proved that the Member has intentionally not disclosed in the DGH form, the fact relating to the illness suffered by him / her prior to opening of the account”
  • In the unfortunate event of death of the accountholder, the nominee should intimate the branch at the earliest and furnish all the necessary documents to enable the branch to forward them to Insurance Company for processing the claim. The entire process should be completed within 180 days from the date of death of the accountholder.
  • Documents required for processing the Claim –
Natural Death
Additional documents required for
Accidental Death

?Death Certificate Cause of death from the last
treating doctor
? First Information Report (FIR)
?Claim Intimation Form ? Post Mortem Report
?Claimant Photo ID and Address proof ? Final Police Report
? Claimant Bank Pass Book  

  • Settlement of Claim is done by Insurance Company at its sole discretion and the Bank will only act as a facilitator. Insurance Company reserves the right for admission of claim and rejection of claim in case of incomplete submission of documents or misrepresentation of facts, brought out on investigation. Insurance Company reserves the right to call for any additional information regarding Claim.

    Disclaimer: Insurance is the subject matter of the solicitation. Tax benefits are subject to change in tax laws from time to time. Please consult your tax advisor for further details. Please read the sales brochure carefully before concluding a sale. IRDA Registration No.: 143. Product Name: IndiaFirst Group Term Plan. -Product UIN No.:- 143N006V02. Registered and Corporate office address of IndiaFirst Life Insurance Company Limited: 301, 'B' Wing, The Qube, Infinity Park, Dindoshi - Film City Road, Malad (East), Mumbai - 400 097. Toll free number: 18002098700, SMS to 5667735, SMS charges apply. Advt. Ref. No.: ABJA DOUBLE Plus/ Pamphlet/. Andhra Bank is a Corporate Agent of IndiaFirst Life Insurance Co. Ltd. Corporate Agent Licence No.: 5983988