Rs 1 crore accident insurance to come free with CISF salary account in SBI

New Delhi, May 24 (IANS) Personnel of CISF will be entitled to enhanced personal accident insurance of up to Rs 1 crore as part of new benefits introduced by the Force as part of an MoU with the State Bank of India for managing salary accounts, said an official on Saturday.

The MoU with the State Bank of India (SBI) for managing salary accounts of serving and retired CISF personnel under the Central Armed Police Salary Package (CAPSP) was formalised at a function held at CISF Headquarters, the official said.

The agreement introduces a host of enhanced financial benefits for CISF personnel, marking a major milestone in CISF's ongoing commitment to the welfare and financial security of its members. These benefits come at zero cost to Force members and are in addition, said an official statement.

The MoU was signed for three years till May 22 by Rekha Nambiar, DIG/Adm, CISF, and Ranjana Sinha, General Manager (NRI & SP), SBI Corporate Centre, Mumbai, on behalf of SBI.

As per the new provisions of the MoU, the existing personal accident insurance (PAI) for serving CISF personnel has been enhanced from Rs 50 lakh to Rs 1 crore. For pensioners, the PAI has been increased from Rs 30 lakh to Rs 50 lakh.

The insurance in the event of an air accident has been increased for serving personnel from Rs 1 crore to Rs 1.5 crore. In addition, a term insurance of Rs 10 lakh has been started for serving personnel.

The insurance coverage for serving personnel in case of permanent total and partial disability has also been increased to Rs 1 crore each.

According to CISF public relations officer, additional covers applicable in case of accidental death, if Personal Accident Insurance (death) claim is found admissible include cost of plastic surgery in burn cases; cost of children’s higher education (for graduation), girl child cover for marriage, payment for air ambulance with a maximum up to Rs 10 lakh and ambulance charges with a maximum up to Rs 50,000.

--IANS

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