TGSRTC Employees Insurance Scheme Ten Lakh Cover for Natural Death Announced
TGSRTC introduces ten lakh insurance cover for natural death of employees in partnership with Union Bank benefiting thirty eight thousand staff without any premium from April one implementation.
- TGSRTC employees insurance offers ten lakh cover
- Natural death insurance announced for TGSRTC staff
- TGSRTC insurance scheme benefits thousands of employees
In a major welfare move TGSRTC has introduced a new insurance scheme providing financial security to employees families in case of natural death. The transport corporation announced that eligible staff will receive a ten lakh insurance cover without paying any premium.
The scheme has come into effect from April one and is being implemented in collaboration with Union Bank of India. It is expected to benefit around thirty eight thousand employees working across the organization ensuring added social security for their families.
Officials stated that this initiative builds on the existing one crore accident insurance already being provided to employees. With the addition of natural death coverage TGSRTC aims to offer comprehensive protection to its workforce.
According to Managing Director Nagi Reddy the insurance benefit will be applicable to employees who have salary accounts with Union Bank of India. In case of an employee death due to natural causes the family will receive ten lakh rupees as financial assistance.
The corporation emphasized that employees are not required to pay any premium for this scheme making it a significant support system for workers. The move is seen as an effort to strengthen employee welfare while ensuring peace of mind for their families.
Employee unions and staff members have welcomed the decision stating that it brings confidence and security to drivers conductors and other personnel who work under demanding conditions.
Officials also highlighted that such initiatives position TGSRTC ahead of many other transport organizations in terms of employee welfare. By combining accident insurance and natural death coverage the corporation has set a new benchmark in social security measures.
The management reiterated that along with improving financial performance the well being of employees remains a top priority and such steps reflect a long term commitment towards their welfare.
