The bank may be in tie-up with insurance companies where the banks are offering any insurance cover to their credit card holders, and where banks have obtained in writing from the credit card holders the details of nominee/s for the insurance cover in the event of death of the card holder.
However, for good orders sake it is advisable to inform the bank/s about the death of the card holder.
Sucheta Dalal Trustee - Moneylife Foundation
Suresh Prabhu Mr Prabhu retired as Senior Vice President from HDFC Bank
R Bhuvaneswari After serving Bank of Baroda for almost 40 years, Ms Bhuvaneshwari retired as Chief Manager in 2013.
Yogesh Sapkale Yogesh Sapkale is Deputy Editor of Moneylife and writes on finance, credit related issues
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