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Key Points

The Central Industrial Security Force (CISF) has partnered with State Bank of India to provide significant insurance upgrades for its personnel. Serving CISF members will now receive free accident insurance coverage of up to Rs 1 crore, a substantial increase from previous limits. The three-year agreement includes additional benefits like term insurance and enhanced coverage for disability and air accidents. These welfare measures demonstrate the organization's commitment to supporting its workforce's financial security.

Key Points: CISF SBI Salary Account Now Offers Rs 1 Crore Insurance

  • CISF signs 3-year MoU with SBI for comprehensive salary package
  • Personal accident insurance enhanced from Rs 50 lakh to Rs 1 crore
  • Additional benefits include term insurance and disability coverage
  • Air accident insurance increased to Rs 1.5 crore
2 min read

Rs 1 crore accident insurance to come free with CISF salary account in SBI

CISF personnel get enhanced Rs 1 crore accident insurance free with SBI salary accounts, offering comprehensive financial protection

"The agreement introduces enhanced financial benefits at zero cost to Force members - Official CISF Statement"

New Delhi, May 24

Personnel of CISF will be entitled to enhanced personal accident insurance of up to Rs 1 crore as part of new benefits introduced by the Force as part of an MoU with the State Bank of India for managing salary accounts, said an official on Saturday.

The MoU with the State Bank of India (SBI) for managing salary accounts of serving and retired CISF personnel under the Central Armed Police Salary Package (CAPSP) was formalised at a function held at CISF Headquarters, the official said.

The agreement introduces a host of enhanced financial benefits for CISF personnel, marking a major milestone in CISF's ongoing commitment to the welfare and financial security of its members. These benefits come at zero cost to Force members and are in addition, said an official statement.

The MoU was signed for three years till May 22 by Rekha Nambiar, DIG/Adm, CISF, and Ranjana Sinha, General Manager (NRI & SP), SBI Corporate Centre, Mumbai, on behalf of SBI.

As per the new provisions of the MoU, the existing personal accident insurance (PAI) for serving CISF personnel has been enhanced from Rs 50 lakh to Rs 1 crore. For pensioners, the PAI has been increased from Rs 30 lakh to Rs 50 lakh.

The insurance in the event of an air accident has been increased for serving personnel from Rs 1 crore to Rs 1.5 crore. In addition, a term insurance of Rs 10 lakh has been started for serving personnel.

The insurance coverage for serving personnel in case of permanent total and partial disability has also been increased to Rs 1 crore each.

According to CISF public relations officer, additional covers applicable in case of accidental death, if Personal Accident Insurance (death) claim is found admissible include cost of plastic surgery in burn cases; cost of children’s higher education (for graduation), girl child cover for marriage, payment for air ambulance with a maximum up to Rs 10 lakh and ambulance charges with a maximum up to Rs 50,000.

- IANS

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Reader Comments

R
Rajesh K.
This is a fantastic initiative! Our CISF personnel risk their lives daily to protect us. The enhanced insurance will give them and their families much-needed security. Kudos to SBI and CISF leadership 👏
P
Priya M.
While this is a good step, I hope similar benefits can be extended to other paramilitary forces too. All our security personnel deserve such financial security. The air ambulance coverage is particularly thoughtful!
A
Amit S.
Great move! But I wonder why it took so long? Our forces have been serving with the same dedication for decades. Better late than never though. The girl child marriage cover shows progressive thinking 💯
S
Sunita R.
As a banker, I appreciate SBI's role in this. But I hope the claims process will be smooth and hassle-free. Sometimes insurance benefits look good on paper but are difficult to actually claim. Fingers crossed 🤞
V
Vikram J.
The plastic surgery coverage for burn cases is a thoughtful addition. Many CISF personnel work in high-risk environments like airports and industrial units. This shows the government is considering all aspects of their welfare.
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Neha P.
My brother is in CISF and he just shared this news in our family group. Everyone is so relieved! The 1 crore cover will really help families in worst-case scenarios. Thank you to whoever thought of this scheme 🙏

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