Air accident insurance (death) cover of Rs 1.60 crore, in addition to cover of up to Rs 1 crore through a specific debit card, and insurance benefits of up to Rs 1 crore in case of accidental death! Yes! Employees of Indian Railways can look forward to increased benefits now with Indian Railways having entered into an agreement with the State Bank of India. All employees with a salary account in the bank, which is about 7 lakh employees, will be entitled to a natural death insurance coverage of Rs 10 lakh, and that too without any premium or medical test requirement.
The existing coverage for accidental death under the Central Government Employees Group Insurance Scheme (CGEGIS)—of Rs 1.20 lakh for Group A employees, Rs 60,000 for Group B staff and Rs 30,000 for Group C employees—has been increased to Rs 1 crore.
There is also complimentary coverage in case of permanent total disability (Rs 1 crore) and permanent partial disability (Rs 80 lakh) caused by an accident.
While all employees across groups will benefit, the move is going to be more beneficial for the frontline staff who come under Group C. They are the ones that play a crucial role in keeping the system running even while facing the maximum occupational danger.
