Bengaluru Metropolitan Transport Corporation (BMTC) employees with salary accounts at Union Bank of India will now receive accident insurance cover of up to Rs 1 crore, after the transport undertaking and the bank revised their agreement. The enhanced benefit doubles the earlier accident compensation of Rs 50 lakh and includes additional disability and medical assistance provisions.
Under the revised arrangement, nominees of an employee will receive Rs 1 crore if the employee dies in an accident. Employees who suffer permanent partial or total disability will also be covered for up to Rs 1 crore, according to the details reported by the Times of India.
The agreement sets separate benefits for death from natural or other causes based on monthly income. Employees earning below Rs 25,000 will be eligible for Rs 5 lakh, while those earning above Rs 25,000 will receive Rs 10 lakh.
Additional insurance-linked benefits will be provided through the RuPay Platinum debit card. Employees earning below Rs 25,000 a month will receive Rs 4 lakh, while those earning above that threshold will receive Rs 15 lakh under the card-linked cover.
The revised arrangement also provides annual medical assistance of up to Rs 30,000 for inpatient hospital treatment. The benefit is part of the package available to BMTC employees who maintain their salary accounts with Union Bank of India.
BMTC is Bengaluru’s state-owned metropolitan bus operator, and its employees include the workforce responsible for running the city’s bus services. The revised insurance arrangement therefore links employee financial protection to an essential public transport system, although the reported agreement is limited to staff holding salary accounts with the participating bank.
The new accident compensation is the most substantial change in the package, rising from Rs 50 lakh to Rs 1 crore. The agreement also distinguishes between accident-related death, natural or other causes of death, disability, and hospitalisation, with the applicable benefit determined by the nature of the event and, for some provisions, the employee’s monthly income.
The reported terms do not specify the number of BMTC employees covered, the duration of the agreement, or the date on which the revised benefits take effect. Those details will determine the scheme’s operational reach and how employees or nominees can claim the benefits.
