Lucknow: Close to 4.5 lakh permanent teachers in UP will now get a group term life insurance cover of ₹10 lakh, thereby empowering them socially and economically. The move came after the basic education department entered into an agreement with the State Bank of India (SBI) during the launch of CM Cashless Medical Facility for Teachers on Wednesday in Varanasi by chief minister Yogi Adityanath.According to the proposal, around 4.5 lakh permanent employees and 5.5 lakh contractual personnel will be brought under the ambit of the MoU. “The move is intended to provide a unified framework of social and economic security for all eligible workers linked to the department,” said a govt spokesperson.Under SBI’s salary package, eligible permanent employees will receive a group term life insurance cover of ₹10 lakh, a personal accident insurance cover of ₹1 crore, and a permanent disability insurance cover of ₹1 crore. In addition, they will be entitled to an air accident insurance cover of up to ₹1.6 crore.The package will also include add-on benefits to support the education of employees’ children and the marriage of daughters in the event of an unforeseen tragedy.Contractual employees earning a net monthly salary of more than ₹10,000 will be covered by a personal accident insurance policy of up to ₹30 lakh. They will also receive insurance coverage of ₹30 lakh in case of permanent disability and ₹15 lakh for partial disability. An air accident insurance cover of ₹30 lakh will also be available under the scheme.For contractual staff earning less than ₹10,000 per month, a zero-balance SBI account and RuPay debit card will provide insurance coverage of up to ₹1 lakh.Post the agreement, the employees already maintaining salary accounts with SBI will be migrated to the bank’s special salary package and will automatically become eligible for the associated benefits.Those receiving salaries through other banks will be convinced to open salary accounts with SBI so that they can avail themselves of the insurance protection and other benefits offered under the agreement.The agreement, said officials, is beyond conventional banking services and is aimed at creating a comprehensive social security net for employees.
