Guwahati (Assam) [India]: The Assam government has signed Memorandums of Understanding (MoUs) with the State Bank of India (SBI) and Union Bank of India (UBI) to offer comprehensive insurance benefits to more than four lakh state government employees.
During a cabinet meeting held in North Lakhimpur, the State Finance Department received authorization to sign MoUs with scheduled commercial banks (SCBs) to ensure zero-premium insurance coverage for all permanent or regular state government employees.
After consultations with SCBs to identify the best options, the Finance Department initiated agreements with SBI and UBI. Under the arrangement, employees will receive extensive benefits at no cost, including:
- Term Life Insurance: Minimum ₹10 lakh coverage for natural death, including death from illness or accident.
- Accidental Death Coverage: Minimum ₹1 crore.
- Permanent Total Disability: Coverage up to ₹1 crore.
- Permanent Partial Disability: Coverage up to ₹80 lakh.
- Air Accidental Insurance: Minimum ₹2 crore coverage in case of death due to an air crash.
Additionally, health insurance at affordable rates will be available for employees who opt for it from these banks.
Employees can apply for these benefits by submitting an application form to the nearest branch of their current bank or any empaneled bank managing their salary accounts. They must also ensure their accounts are categorized as salary accounts by updating their passbooks at their respective branches.
The MoUs are effective immediately, with the Finance Department issuing detailed Standard Operating Procedures (SoP) to ensure a seamless rollout.
Implementation and Coordination:
- Treasury Officers at district headquarters will act as Nodal Officers to coordinate and address grievances, liaise with banks, and facilitate claim submissions.
- Each empaneled bank will appoint a Nodal Officer, whose contact details will be included in the SoP.
- A quarterly report on case status and disposal will be submitted to the Finance Department to ensure timely resolutions.
This initiative aims to provide financial security and peace of mind to Assam’s government employees, setting a benchmark for employee welfare.