Employees get 3 year accidental insurance

JAMMU: The government employees in the union territory of Jammu and Kashmir will now be covered under the Group Personal Accidental Insurance Policy for a period of three years commencing from Monday.
Under the new policy which was approved by the government today, more than 3.50 lakh employees of the J&K Government—both Gazetted and Non Gazetted, including employees of PSUs, Autonomous Bodies, Local Bodies, Universities, Daily rated workers, Consolidated, Contractual, Adhoc employees, Contingent paid workers and SPOs will be covered.
The sum assured under this policy is Rs 10 lakh per employee against payment of a yearly premium of Rs 346, which shall be deducted from their salaries of December.
The DDOs of the PSUs, Autonomous Bodies, Local Bodies and Universities have been asked to remit the premium and deposit the same in Govt Treasuries before 15th January, 2020.
“Sanction is hereby accorded to implementation of the Group Personal Accidental Insurance Policy through M/s Oriental Insurance Company Ltd for a period of 3 years commencing from 2nd December 2019,” a government order issued today said, adding that a detailed Memorandum of Understanding (MOU) indicating the terms and conditions and other related details would be executed between the Government of Jammu and Kashmir and Ms. Oriental Insurance Company Ltd.
The government also accorded sanction to the advance drawal of an amount of Rs 12,10,09,000 for subsequent release to the Oriental Insurance Company Ltd as premium for Group Personal Accidental Insurance Policy for 3.50 lac employees of the Government of Jammu and Kashmir for a period of one year from the date of payment of the premium.