Indian Railways has announced a major benefit for its staff. Now, employees whose salary account is in State Bank of India (SBI) will get accidental death insurance cover up to ₹1 crore.
The best part is that employees will not have to pay any extra premium or undergo any medical test for this facility. T
he agreement between Indian Railways and SBI was signed in the presence of Railway Minister Ashwini Vaishnav.
Insurance Cover Earlier vs Now
Earlier, employees were covered under the Central Government Employees Group Insurance Scheme (CGEGIS):
Group A employees – ₹1.20 lakh cover
Group B employees – ₹60,000 cover
Group C employees – ₹30,000 cover
Now, the new service provides much higher benefits:
Accidental death – ₹1 crore cover
Natural death – ₹10 lakh cover
Air accident – up to ₹1.60 crore cover
RuPay Debit Card insurance – extra cover up to ₹1 crore
Permanent total disability – up to ₹1 crore compensation
Permanent partial disability – up to ₹80 lakh cover
7 Lakh Employees to Benefit
According to Railways, about 7 lakh employees with salary accounts in SBI will benefit from this decision.
This scheme is expected to give a big relief, especially to frontline employees like Group C staff, who earlier had very limited insurance cover.
