This accident insurance will be applicable to the employees who die prematurely or become permanently disabled due to road accidents
Published Date – 20 January 2024, 06:48 PM
Hyderabad: The Telangana State Road Transport Corporation (TSRTC) has entered into an agreement with union Bank of India (UBI) to increase accident insurance for its employees from Rs 40 lakh to Rs 1 crore.
This accident insurance will be applicable to the employees who die prematurely or become permanently disabled due to road accidents. Under the UBI Super Salary Saving Account (USSA), an accident insurance of Rs 1 crore insurance coverage up to another Rs.12 lakh through Rupay card will be given to the deceased employee’s family.
The company will provide accident insurance up to Rs.1.12 crore to the affected families without payment of any premium. This accident insurance will come into effect from 1st February.
TSRTC Managing Director VC Sajjanar said it was a good step to increase the accident insurance up to Rs.1.12 crore without paying any additional premium.
Transport Minister Ponnam Prabhakar welcomed the increase in accident insurance and said that it would greatly benefit the staff. He said that under UBI Super Salary Saving Account scheme, Rs.40 lakh has been given to the families of 12 personnel who died in road accidents recently.
