Security Boost for PNB Employees! PNB Rolls Out Term Life Insurance Plan for All Employees
Punjab National Bank has launched term life insurance for all its employees including officers, clerks, and sub-staff. Under this scheme, employees have been provided term life insurance coverage equal to 20 times their gross monthly salary as of December 2025.
Term insurance is one of the most important financial protections for an individual and their family. It ensures that the family remains financially secure if something unexpected happens to the earning member. The biggest benefit of term insurance is that it protects your family’s future. In case of the policyholder’s death, the insurance amount helps the family manage daily expenses, children’s education, and long-term financial needs.
The details of the policy are as follows:
| Features | Details |
| Policy Period | 01.01.2026 to 31.12.2026 |
| Coverage | All employees of the Bank including those on deputation to other organizations. |
| Type of death covered | All types of death are covered for insured lives |
| Policy applicable upto | Last day of the month in which employee attains 60 years of age or last day of service in the bank whichever is earlier. |
| Quantum of Sum Insured (Base Policy) | 20 times of Gross Monthly Salary (Notional full month gross salary of December 2025 and sum insured for individual employee displayed in HRMS), with minimum amount as under: Rs 25 Lacs for Officer Staff. Rs 20 Lacs for Clerical staff. Rs 15 Lacs for Subordinate staff. Maximum individual employee sum insured is capped at Rs 1 Crore. |
| Cost of Insurance Cover | Borne by the Bank |
PNB has also launched Voluntary Top- Up Cover for insurance. The salient features of Voluntary Top-up cover is as under:
- Top-up cover is available up to 20 times of Gross Monthly Salary (Notional full month gross salary of December 2025). Maximum individual employee sum insured is capped at Rs 1 Crore.
- The premium of the Top-Up cover shall be borne by the individual employee in case of opting.
- The Top-Up cover is on the same rate of premium, i.e. Rs 1.4900/- per thousand sum insured with applicable GST and terms and conditions as that of the base policy.
- There are 4 variants for employee to opt under the Top-up cover as mentioned below:
- 5 times of monthly gross salary
- 10 times of monthly gross salary
- 15 times of monthly gross salary
- 20 times of monthly gross salary
The variants along with minimum and maximum coverage is as under:
| Variants | Cadre | |||||
| Sub Staff | Clerical | Officer | ||||
| Minimum (in lakhs) | Maximum (in lakhs) | Minimum (in lakhs) | Maximum (in lakhs) | Minimum (in lakhs) | Maximum (in lakhs) | |
| 5 times of monthly gross salary | 3.75 | 5 times of monthly gross salary | 5 | 5 times of monthly gross salary | 6.25 | 5 times of monthly gross salary |
| 10 times of monthly gross salary | 7.5 | 10 times of monthly gross salary | 10 | 10 times of monthly gross salary | 12.50 | 10 times of monthly gross salary |
| 15 times of monthly gross salary | 11.25 | 15 times of monthly gross salary | 15 | 15 times of monthly gross salary | 18.75 | 15 times of monthly gross salary |
| 20 Times Monthly Gross Salary | 15.00 | maximum of 20 Times of Monthly GrossSalary | 20 | maximum of 20 Times of Monthly GrossSalary | 25 | maximum of 20 Times of Monthly Gross Salary |
