10 Inbuilt Insurance Products You Did not Know About

1-June-2021 |

When we think of insurance, we think of it as a product, which we have to buy separately to avail its features and facilities. This is how it has been for car insurance, home insurance, business insurance, etc. Be it buying your travel insurance for a short trip or covering your whole life with a life insurance cover, you always have to pay for your insurance as an add-on.


However, many products in the market come with an inbuilt insurance cover. Not all of them offer a life insurance cover, but some of them can make your life insurance policy even more compact.


In this article, we shall list 10 of the most commonly bought products that you probably didn't know had an inbuilt insurance cover.


Home Appliances Cover


Remember all the festive season sales for washing machines, refrigerators, and other electronic home appliances? It turns out if you buy an AC at a select few deals, you not only save a few rupees but also get the assurance of an insurance policy.


Most of those sales offer you an inbuilt insurance cover for the product; however, insurance is not to be confused with a warranty.


A warranty only covers your electronic appliances against mechanical and electronic failure. In such a case, a warranty would help you get your product fixed or, shall the worse come to worst, replaced too. However, insurance could bring monetary compensation for the inconvenience caused, and it will also provide you with some protection against mishaps such as theft or fire damage.

  • Flight Tickets

This is where you need to do a lot of research because some airline carriers offer you inbuilt insurance, and the price is included in the ticket. However, others would require you to buy it separately. With an inbuilt insurance cover in your tickets, you get some accidental damage cover and also compensation if your goods are stolen or delayed in the process.

  • Train Tickets

IRCTC offers inbuilt insurance that covers goods that may be stolen during a train journey. Not a lot of people know about this cover, and so they don't make a claim. However, if you're travelling via any Indian train, know for a fact that your goods are insured.

  • Pradhan Mantri Jan Dhan Yojana

Pradhan Mantri Jan Dhan Yojana allows a policyholder to open a zero balance bank account. But, along with his bank account, you'll also be given a RuPay debit card, which shall entitle you to a life insurance cover of up to INR 30,000. On top of that, you also get a personal accident insurance cover of up to INR 1 lakh.

This cover may not be enough to suffice your needs, and so we recommend that you look for a life insurance policy that covers illness too. You can find a good life cover policy that covers you for everything at a marginal premium. With Tata AIA Life Insurance pay premium online!

  • Mutual Funds Cover

This may come as a surprise, but when you invest in mutual funds, you get a complimentary life insurance cover as well. This is not true for all the mutual funds out there, so you will need to research. However, some have this provision that in case of your premature death, your mutual funds’ asset house would compensate your nominees or beneficiaries upon completion of the scheme period. Some mutual fund houses go so far as to pay the future premiums on the investor’s behalf.

  • Credit Cards

Credit cards are among the most exclusive premium products in the finance industry. This is why, when you get a credit card approved for your application, you get a lot of benefits with it, such as a life cover policy. A standard credit card would get you an instant life insurance cover or a life cover policy, which can go up to INR 1 crore in some cases.

Of course, the numbers vary for different users and providers, and you could use an online life insurance coverage calculator to see your potential life insurance cover.


You will also get specific accident covers and health reimbursements. If you already have a credit card in your name, we recommend that you check with your card issuer to understand what insurance cover you shall get with it.

  • Employee Deposit Linked Insurance

If your employer has been providing a provident fund in your name or you have a specific salary deduction going towards your provident fund, then congratulations! You already have a life insurance cover. You will be happy to know that anybody who is a member of EPF or Employee Provident Fund gets a life insurance cover of up to INR 6,00,000, which the nominees or beneficiaries can avail of if the cardholder passes away.

  • RuPay Cards

RuPay cards have been getting a lot of traction in recent years, and people know of the brand. However, not many know that a RuPay card gets you the benefits of a life cover policy and an instant life insurance cover, with a disability cover of up to INR 2,00,000.

  • Bank Deposits

In the event a bank shuts down, and you have your money deposited with them in an FD or a current or savings account, then you are insured by the Deposit Insurance and Credit Guarantee Corporation or DICGC for INR 1,00,00.

  • Zero Liability Cards

Liability cover states that if your credit or debit card is misused or someone else makes a transaction that you didn't know or approve of, then, as per the zero liability cover, you will get some reimbursement for the loss.

However, the prerequisite to this clause is that you must report the lost or stolen card within a fixed interval of time. Note that not all debit or credit card providers will allow zero liability coverage, and even if they do, they may have their conditions as to how much amount will be reimbursed and the span of reporting. Please remember to check with your card provider.


We hope this article has helped you understand the various products that come with an inbuilt insurance plan. Let us know in the comments if you could add more to the list or if you would like to consider stand-alone life insurance policies too.



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  • Insurance cover is available under the product.
  • The products are underwritten by Tata AIA Life Insurance Company Ltd.
  • The plans are not a guaranteed issuance plan and it will be subject to Company’s underwriting and acceptance.
  • For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
  • This document is for information and illustrative purposes only and does not purport to any financial or investment services and do not offer or form part of any offer or recommendation. The information is not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action.
  • Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document issued by the insurance company.
  • Every effort is made to ensure that all information contained in this document is accurate at the date of publication, however, the Tata AIA Life shall not have any liability for any damages of any kind (including but not limited to errors and omissions) whatsoever relating to this material.