TSRTC increases accident insurance for employees from Rs 40 lakh to Rs 1 crore
The company would provide accident insurance up to Rs 1.12 crore to the affected families without payment of any premium. This accident insurance would come into effect from February 1, 2024.
HYDERABAD: The Telangana State Road Transport Corporation (TSRTC) has entered into an agreement with the Union Bank of India (UBI) to increase accident insurance for its employees from Rs 40 lakh to Rs 1 crore.
This accident insurance would be applicable to TSRTC employees who die prematurely or become permanently disabled due to road accidents. Under the UBI Super Salary Saving Account (USSA), the accident insurance of Rs 1 crore would be further extended by Rs 12 lakh through Rupay card which would be given to the deceased employee’s family.
The company would provide accident insurance up to Rs 1.12 crore to the affected families without payment of any premium. This accident insurance would come into effect from February 1, 2024.
TSRTC MD VC Sajjanar said that this 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 TSRTC staff. He said that under UBI Super Salary Saving Account scheme, Rs 40 lakh had been given to the families of 12 personnel who died in road accidents recently.