State Road Transport Corporation (KSRTC) for the first time in the history of the country’s road transport organizations has implemented an accident insurance scheme of Rs 1 crore for its employees. KSRTC staff Good news here: Govt announced 1 crore accident Insurance Scheme.
Earlier, government had agreement with State Bank of India to provide Rs 50 lakh insurance to KSRTC staff. Now 50 lakhs of contract made by United India Insurance. KSRTC has announced that it will provide a total of Rs.1 crore accident insurance.
KSRTC staff who die in an accident (whether on duty or off duty) or suffer permanent/temporary disability will get Rs. 50 lakhs, a non-premium accident indemnity insurance scheme is implemented by the Corporation through a tie-up with State Bank of India. As a continuation of this, today the corporation is agreement has been made with United India Insurance Company Ltd. According to which an accident compensation insurance plan of up to Rs.50 lakh has already been implemented for the staff. Employees have to pay a premium of Rs.62.50 + GST inclusive (annual premium of Rs.885/-) for this insurance plan.
The insurance scheme is an excellent scheme for the benefit of the worker and his family. Chandrappa expressed his happiness that this insurance scheme implemented by the corporation is an excellent scheme which is being implemented for the benefit of the workers and their families and the accident insurance scheme (off duty and on duty) will further benefit the staff.
He thanked the labour leaders of the Joint Action Committee, Ananta Subbarao and other labour leaders for their wholehearted cooperation in this project and appreciated the cooperation of United India Insurance Company Limited.
Today at the head office of the corporation honourable legislator and President M. V. Anbukumar, Managing Director, KSRTC and Angroup Sonam, General Manager, United India Insurance Company Limited signed the agreement in the presence of Chandrappara.
In this program Dr. Naveen Bhat Y, Director (Staff and Vigilance) Joint Action Committee Labour Leaders Ananta Subbarao and other Trade Union Leaders, Usha Chandramouli, Regional Manager, United India Insurance Company Ltd. Bangalore and other senior officers were present.
Rules for getting insurance
1. In this scheme, employees will have to pay a monthly premium of Rs.62.50 + GST (annually Rs.750 + GST total Rs.885/-).
2. With this personal insurance plan, if the policyholder dies in an accident, his dependents will get Rs. 50 lakhs compensation money will be available immediately.
3. Even in case of permanent total disability of the personnel in the accident Rs. 50 lakhs insurance compensation will be available.
4. Another useful feature of this insurance plan is that the insurance covers personal accidents that occur both on duty and off duty.
5. In case an employee is temporarily disabled due to an accident and is unable to perform duties in his original post, till his recovery, the insurance company will pay him one per cent of the sum insured of Rs.50 lakh not exceeding Rs.5000 per week or 25 per cent of his monthly salary, whichever is less.
Also Read: Hardik Pandya T20 Captain for Team India
6. From these two insurance plans, the corporation has implemented an accident compensation insurance plan of Rs.1 crore for its employees. Till now there was no accident insurance scheme facility for the employees of the corporation.
Comments are closed.