SBI Hands Over ₹1 Crore Insurance to Family of Deceased ASI
In a compassionate and timely move, the State Bank of India (SBI) recently handed over an accidental death insurance claim of ₹1 crore to the family of a deceased Assistant Sub-Inspector (ASI). This insurance payout is part of SBI's personal accident insurance coverage extended to personnel under relevant schemes, aimed at providing financial security to the families of fallen employees.
The ₹1 crore insurance cover helps the bereaved family cope with sudden financial burdens following the tragic loss. SBI’s role in swiftly processing and disbursing such claims highlights its commitment to social responsibility and support for public servants and their families.
Key Highlights of the Insurance Handover
Insurance Coverage: The amount represents the accidental death insurance benefit under SBI’s personal accident policy.
Beneficiary: Family members of the deceased ASI received the cheque as financial relief.
Importance: This significant sum aids in covering immediate expenses and securing the family’s future.
SBI's Assurance: SBI emphasizes its commitment to protecting employees and their dependents with comprehensive insurance benefits.
Background on SBI Personal Accident Insurance
SBI provides compulsory and complementary personal accident insurance policies, often granting coverage sums up to ₹50 lakhs or ₹1 crore for certain ranks and job profiles, including in Central Armed Police forces and bank staff under special packages.
This insurance protects against accidental death and disabilities, ensuring families are supported financially in unforeseen circumstances.
Frequently Asked Questions
Who is eligible for SBI’s accidental death insurance?
Typically, SBI employees and personnel associated with bank security or related forces are covered under specific personal accident insurance schemes with defined coverage sums.
What is the sum assured under SBI’s accidental death insurance?
The sum assured can be up to ₹1 crore depending on the policy and rank of the insured individual, as seen in the recent case involving an ASI.
How does SBI handle insurance claims for deceased employees?
SBI processes claims promptly after due verification and ensures timely disbursement of the insurance payout to the nominee or legal heirs.
What kind of financial relief does the ₹1 crore insurance provide?
It helps the bereaved family cover immediate expenses, loss of income, debts, and supports long-term financial stability.
Is the accidental death insurance different from life insurance?
Yes, accidental death insurance specifically covers death due to accidents, while life insurance covers death due to any cause during the policy term.
Published on: July 29, 2025
Published by: PAVAN
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