Assam partners with SBI, UBI to provide insurance benefits to govt employees

ANI January 2, 2025 459 views

The Assam government just made an incredible move for its state employees by partnering with SBI and UBI. They've secured zero-premium insurance coverage that includes life, accidental death, and disability benefits for over four lakh government workers. Employees can easily apply through their salary bank accounts, with each district's Treasury Officer helping coordinate the process. This initiative demonstrates the state's commitment to supporting its workforce's financial security.

"The Finance Department soon after discussed with all the SCBs to identify the best options for the employees." - Assam Government Statement
Guwahati, January 1: The Assam government signed MoUs with the State Bank of India (SBI) and Union Bank of India (UBI) to provide insurance benefits to state government employees.

Key Points

1

State government partners with banks for zero-cost employee insurance

2

Comprehensive coverage including life and accidental death benefits

3

Employees can apply through their salary bank accounts

4

Quarterly reports will track insurance case status

During a state cabinet meeting held in North Lakhimpur, the State Finance Department was authorized to sign Memorandum of Understanding (MoU) with scheduled commercial banks (SCBs) to provide zero-premium insurance coverage to all permanent or regular employees of the state government, totaling over four lakh employees.

The Finance Department soon after discussed with all the SCBs to identify the best options for the employees.

As a first step, the Finance Department has signed MoUs with the State Bank of India (SBI) and Union Bank of India (UBI).

Under this arranegment, the state government employees will get benefits at zero cost that includes minimum Rs 10 lakh for Term Life Insurance (coverage for employees in the event of natural death, including death due to illness or accident), minimum Rs 1 crore for accidental death, upto Rs 1 crore for Permanent Total Disability, upto Rs 80 lakh for Permanent Partial Disability, minimum Rs 2 crore for Air Accidental Insurance (coverage for employees in case of death due to an air crash).

Additionally, health insurance will be available at highly affordable rates for those employees who chose to avail the same from these banks.

The Terms and Conditions will, however, be decided by the banks.

Employees can submit an application form to the nearest branch of their current bank or any other empaneled bank where they are maintaining their salary bank accounts. They must also ensure that their accounts are categorized as salary accounts by updating their passbooks at the nearest branch.

The MoUs will be effective forthwith, and a detailed Standard Operating Procedures (SoP) are being issued to ensure smooth roll out of these MoUs and maximum benefits to the employees.

The Treasury Officer of each district headquarters will serve as the Nodal Officer for coordination and grievance redressal, liaising with banks, ensuring smooth implementation of salary benefits, and assisting with claim submissions.

Further, each empaneled Bank will nominate a Nodal Officer. The contact details of such Nodal Officer will be included in the SOP issued by the Finance Department.

A quarterly report on case status and disposal will be submitted to the Finance Department for timely resolution.

Reader Comments

R
Rahul P.
This is a great initiative by the Assam government! Zero-premium insurance coverage will provide much-needed financial security to government employees and their families. 👏
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Priya M.
As a govt employee in Assam, I'm really happy about this. The coverage amounts seem generous too. Just hope the claim process won't be too complicated.
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Amit K.
While I appreciate the effort, I wonder why only SBI and UBI were chosen initially. What about employees who have accounts with other nationalized banks? Hope they expand this soon.
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Sunita R.
The air accidental insurance coverage of ₹2 crore is impressive! This will be a big relief for families of employees who travel frequently for work.
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Nitin B.
Good move, but the article mentions "minimum" coverage amounts. Will there be variations based on salary/position? Transparency in these details would be helpful.
M
Meena S.
Finally some good news for government employees! The health insurance at affordable rates is the cherry on top. Hope other states follow Assam's example.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Tags:
Government Insurance Assam Employees Bank Partnership State Welfare
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