Salary and Pension Solutions for Central/State Government employees for drawing Salary/Pension

Benefits
Life Insurance Facility
Terms & Conditions

Salary and Pension Solutions for Central/State Government employees for drawing Salary/Pension.

Comprehensive Personal Accidental Insurance upto Rs. 40 Lakhs#
Permanent Total Disability cover upto Rs. 40 Lakhs#
Permanent Partial Disability cover upto Rs. 20 Lakhs#
Air Accident Insurance cover upto Rs.10.00 Lacs#
Personal Accident Insurance cover between age 18 -70 years
Overdraft facility available*
100% waiver in processing charges on Home loan, Auto Loan, Education Loan, Mortgage Loans and Personal Loan#

# T&C Apply

*subject to approval as per extant guidelines of Bank

Eligibility

All Customers in Age Group of 18-70 are eligible to avail the Life Insurance benefits Any resident individual who has attained the age of 18 years and has not completed the age of 70 yrs can avail the facility of Life Insurance Cover from “IndiaFirst Life Insurance Co. Ltd” (IFLIC) upto an amount of Rs.5.00 lac after payment of required premium and submission of simple Health Declaration Form (DOGH)

Sum Assured

The Sum assured starts at a minimum of Rs.1.00 lac and goes up to Rs.5.00 lacs (in multiples of Rs. 1.00 lac).

Under the Scheme, Only one insurance cover per person shall be allowed.

Periodicity

Period of Insurance is one year from 01st January to 31St December every year and is annually renewable. In case of those accounts which are opened in due course in the middle of the year, premium shall be paid on prorata basis only for the year in which the insurance is subscribed as per details mentioned below:

Premium Table

Insurance premium chart - 1 Lac
		Age in Years
	18-35	36-50	51-59	60-70
Month of joining the Scheme	Premium ( Inclusive of GST ) with effect from 01.01.2020	Coverage in Months
Jan	138	276	768	1,975	12
Feb-20	127	253	704	1,811	11
Mar-20	115	230	640	1,646	10
Apr-20	104	207	576	1,482	9
May-20	92	184	512	1,317	8
Jun-20	81	161	448	1,153	7
Jul-20	69	138	384	988	6
Aug-20	58	115	320	823	5
Sep-20	46	92	256	659	4
Oct-20	35	69	192	494	3
Nov-20	23	46	128	330	2
Dec-20	12	23	64	165	1

From second year onwards the premium for the full year will be auto debited at central level in the month of January.

Insurance cover shall be available only till the Savings Account is active and Premium amount once collected shall not be refunded even if the account is closed.

For more details on Salary Accounts,

please e-mail us at: liabilities.corp.bcc@bankofbaroda.com

For pension accounts:cppc.delhi@bankofbaroda.com