Hyderabad: The Telangana government will roll out a new life insurance scheme offering coverage of Rs 1.20 crore each to state government employees and pensioners, with beneficiaries not required to pay any premium.
Chief Minister A Revanth Reddy is scheduled to formally launch the Employees’ Life Insurance Scheme on June 25. The scheme aims to provide financial protection to the families of serving and retired government employees in the event of natural or accidental death.
Under the scheme, the insurance amount of Rs 1.20 crore will be paid to the nominee or family of the employee or pensioner. The government has decided to provide the coverage without imposing any premium burden on beneficiaries, making it a fully supported welfare measure.
Employees’ Life Insurance Scheme to cover natural and accidental deaths
Officials said the scheme will cover both natural and accidental deaths, ensuring financial support to families of employees and pensioners during emergencies. The move is expected to benefit a large section of serving government staff as well as retired personnel across Telangana.
To ensure smooth implementation, the State government is planning to sign memorandums of understanding with major banks that handle salary and pension accounts of government employees and pensioners. The arrangement is intended to streamline the claim settlement process and help the insurance amount reach eligible families quickly.
The government is also working to create a direct settlement mechanism so that claims can be processed without delays or unnecessary intermediaries. By linking the scheme with banks handling official salary and pension accounts, the administration hopes to speed up disbursal and improve transparency.
The announcement comes as the Telangana government continues to focus on welfare measures for employees and pensioners, with the new insurance scheme set to become one of the largest social security initiatives announced for this segment in the state.
