What is insurance on debit card

Purchase Protection: This policy covers loss of goods/articles purchased (excluding perishables, jewellery, precious stones) due to theft/burglary/house breaking, including theft from vehicle, within 90 days of purchase of such goods.

How to claim Debit Card insurance?

The claimant (s) has to submit the documents as per the Documents Check List for Personal Accident Claim (Page-4) along with Certificate from the Bank's Branch where the Cardholder's account is maintained, confirming death of the Cardholder, his Account No. and Debit Card No.

What is Debit Card insurance fee in HDFC Bank?

When you purchase business insurance, you usually buy the insurance policy for one year. The debit side of the entry is prepaid insurance, which is an asset account that generally has a debit balance. When you pay for the insurance policy, you credit cash because cash is reduced.

What is insurance debit or credit?

Generally, Prepaid Insurance is a current asset account that has a debit balance. The debit balance indicates the amount that remains prepaid as of the date of the balance sheet. As time passes, the debit balance decreases as adjusting entries credit the account Prepaid Insurance and debit Insurance Expense.