UP Government Employees to Get Rs 1 Crore Accident Insurance, Rs 30 Lakh Health Cover from Axis Bank
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The Uttar Pradesh government has signed a Memorandum of Understanding (MoU) with Axis Bank to provide special salary accounts and additional insurance benefits to state government employees. The agreement has been signed between the Yogi Adityanath government’s Secretariat Administration Department and Axis Bank. Under this arrangement, eligible employees will receive benefits such as personal accident insurance, supplementary health insurance, term life insurance and financial assistance for the education of their dependent children.
According to the agreement, eligible state government employees will receive personal accident insurance coverage of up to ₹1 crore. This coverage is intended to provide financial support to employees’ families in the event of an accident covered under the policy. The MoU also provides for supplementary health insurance coverage of up to ₹30 lakh. Employees will be required to pay a nominal premium of ₹7 per day for this benefit, subject to the applicable policy terms and conditions. The additional coverage is expected to help employees manage expenses arising from serious illnesses and major medical treatments.
The agreement also includes a provision for financial assistance of up to ₹8 lakh towards the education of employees’ dependent children. In addition, eligible employees will receive term life insurance coverage of ₹10 lakh, providing further financial protection to their families in the event of the employee’s death during the policy term, subject to the policy conditions.
Under the MoU, employees will also be offered special salary accounts that combine regular banking services with additional insurance and welfare benefits. The initiative aims to strengthen the financial security of state government employees and their families and provide support during unexpected situations, including accidents, medical emergencies and other financial difficulties.
However, the benefits will depend on the eligibility criteria and the applicable terms and conditions of Axis Bank and the respective insurance policies. Employees should check the detailed scheme guidelines with their department or the bank to understand the coverage, exclusions, premium requirements and claim procedures before relying on these benefits.
