Each employee of Jammu and Kashmir government will get group personal accidental insurance of Rs 10 lakh against payment of an yearly premium of Rs 359.90. The government has accorded sanction to tie up for the insurance policy with Oriental Insurance Company Limited, an official spokesperson said.
“The tie-up will be for one year commencing December 1 to November 30 next year,” he said.
A notification by the Principal Secretary Finance, Navin K Choudhary, said the policy shall cover staff of the state government including employees of PSUs, autonomous bodies, local bodies, universities, daily workers, casual workers, consolidated workers, contractual and contingent paid workers, adhoc employees and SPOs.
According to the notification, a detailed MoU and agreement indicating the terms and conditions and other details shall be executed between the Government of Jammu and Kashmir and Oriental Insurance Company Limited.
The finance department has sanctioned advance withdrawal of Rs 12,59,65,000 at the rate of Rs 359.90 per employee under Major Head 8235 for subsequent release of the amount to the Oriental Insurance Company Ltd as premium for the insurance one year from the date of payment of premium.