The PNB Rakshak Plus Scheme offers one of the highest air accident insurance covers in the country — ₹1.5 crore — exclusively for serving defence personnel. In addition to this, the scheme provides several other personal accident insurance covers and attractive banking benefits tailored for both serving personnel and pensioners.
Along with the air accident insurance of ₹1.5 crore for serving defence members (₹1 crore for pensioners), the Rakshak Plus Scheme offers the following benefits:
| Benefit | Serving Personnel | Pensioners |
| Personal Accident Insurance (Death) | ₹1 crore | ₹50 lakh |
| Permanent Total Disability (PTD) | ₹1 crore | ₹50 lakh |
| Permanent Partial Disability (PPD) | Up to ₹1 crore (as per % disability) | Up to ₹50 lakh (as per % disability) |
| Additional Insurance (Anti-national/terrorist-related death) | ₹10 lakh | ₹10 lakh |
| Accident Insurance via Debit Card | ₹2 lakh / ₹10 lakh* | ₹2 lakh / ₹10 lakh* |
| Accident Insurance via Credit Card | ₹10 lakh | ₹10 lakh |
*Applicable only on RuPay Select Debit Card.
Here is a breakdown of the benefits offered by the scheme in emergency situations:
| Benefit | Serving Personnel | Pensioners |
| Ambulance Charges | ₹50,000 | ₹10,000 |
| Air Ambulance | ₹10 lakh | Not Available |
| Emergency Medical Expenses | ₹25,000 | ₹25,000 |
| Death After Coma | ₹5 lakh (after 48 hrs) | ₹2 lakh (after 48 hrs) |
| Plastic Surgery/Burns & Imported Medicines | ₹10 lakh | ₹10 lakh |
| Funeral Expenses | ₹30,000 | ₹10,000 |
| Body Repatriation Cost | ₹50,000 | ₹40,000 |
| Travel for Two Family Members | ₹40,000 | ₹40,000 |
Source: PNB India
The PNB Rakshak Plus Scheme also provides support for serving defence personnel’s family and children as follows:
Rakshak Plus also brings practical banking advantages:
| Banking Facility | Details |
| Overdraft | ₹75,000 to ₹3 lakh based on 3-month salary/pension |
| Zero Balance Accounts | Available for family members |
| Sweep Facility | Auto-transfer of funds above ₹10,000 in multiples of ₹1,000 |
| Loan Concessions | Applicable on housing, car, education, and personal loans |
| Free DDs/POs | Up to ₹50,000 per DD/PO |
| Locker Rent Discount | 25% discount; AMC waived for 3 years |
| SMS Alerts | Free transaction alerts |
| Special Fund Transfer Facility | Free fund transfers for Gorkha personnel to Nepal |
Source: PNB India
Read more: Who is Eligible for the PNB Rakshak Plus Scheme and What Are Its Benefits?
The ₹1.5 crore air accident cover under PNB Rakshak Plus is a standout feature, offering immense security to defence personnel and their families. With a mix of insurance protection, family benefits, and banking privileges, this scheme is a meaningful gesture of support from Punjab National Bank to those who serve the nation.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.
Published on: Jun 27, 2025, 5:42 PM IST
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