Banks often offer various rewards and schemes to attract and retain customers. Now, the Jharkhand government has announced a similar benefit for its employees. The Hemant Soren-led Jharkhand Mukti Morcha government has signed an agreement with the State Bank of India (SBI) regarding the salary accounts of state employees.
Under this agreement, government employees who have their salary accounts with SBI will get free accidental insurance coverage of up to ₹1 crore. The best part is that employees don’t have to pay any premium for this benefit.
Chief Minister Hemant Soren said that his government is committed to the dignity, safety, and welfare of all government employees. This new initiative marks a step forward in ensuring financial security for them. He added that government employees play a key role in the state’s development. From making policies to implementing them, they are the driving force. Therefore, the government aims to boost their morale and provide a better work environment.
State Employees to Get These Benefits for Free
Apart from ₹1 crore accident insurance, Jharkhand government employees will also get access to various banking services related to health and life insurance. The best part is—they won’t have to pay any extra charges for these facilities.
70,000 Policemen Already Benefiting
KV Bangaraju, Chief General Manager of SBI’s Jharkhand-Bihar Circle, said that out of 1.75 lakh state government employees, around 70,000 policemen are already receiving these benefits. Now, 1.05 lakh more employees will also get the same advantages under the new facility.
What Is SBI’s Personal Accident Insurance Scheme?
SBI offers accident insurance through various policies. Among them, the SBI Personal Accident Insurance (SBI PAI) is one of the most important. It gives financial protection to the family in case of accidental death, injury, or permanent disability.
What’s Covered Under This Insurance?
Under SBI’s Personal Accident Insurance, the following benefits are provided:
- 100% of the sum insured in case of accidental death
- Coverage for permanent disability
- Bone fracture assistance
- Ambulance charges
- Child education cover (up to 1% of sum insured or ₹20,000, whichever is lower)
