Indian Railway: Indian Railways has taken a big decision for its employees. Now employees whose salary account is in State Bank of India (SBI) will get accidental death insurance cover of up to Rs 1 crore
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Indian Railway: Indian Railways has taken a big decision for its employees. Now employees whose salary account is in State Bank of India (SBI) will get accidental death insurance cover of up to Rs 1 crore. Neither any extra premium will have to be paid for this service nor will medical test be required. This agreement was signed between Railways and SBI in the presence of Railway Minister Ashwini Vaishnav.
How much cover was available earlier?
Till now employees used to get insurance cover under Central Government Employees Group Insurance Scheme (CGEGIS). In this, Group A employees used to get cover of only Rs 1.20 lakh, Group B Rs 60,000 and Group C employees only Rs 30,000.
What will you get in the new service?
- In case of death in an accident, you will get an insurance cover of Rs 1 crore.
- In case of natural death, you will get an insurance cover of Rs 10 lakh.
- Air accident insurance cover up to Rs 1.60 crore will be available.
- RuPay debit card will get an extra cover of up to Rs 1 crore.
- Up to Rs 1 crore coverage will be available on permanent total disability.
- Up to Rs 80 lakh coverage will be available on permanent partial disability.
7 lakh employees will benefit
Railways said that this service will benefit about 7 lakh employees whose salary accounts are in SBI. This will prove to be a big relief especially for advance line employees like Group C.
