Replicating the Palghar Model: A New Insurance Scheme for Public Employees

An innovative insurance scheme introduced for Palghar Zilla Parishad employees will be replicated nationwide. The scheme provides comprehensive life, accident, and health coverage. An MoU was signed with Union Bank of India, ensuring financial security with up to Rs 1 crore for families of employees in case of major accidents or disabilities.

An insurance scheme tailored for employees of the Palghar Zilla Parishad is set to become a model for similar initiatives across the country, according to a senior banking official.

In October 2023, a significant memorandum of understanding (MoU) was finalized to extend comprehensive life, accident, and health insurance benefits to the employees who hold accounts with Union Bank of India.

In a recent ceremony, a claim of Rs 1.15 crore was granted to Ranjana Vilas Madhavi, the widow of Vilas Dattu Madhavi, marking her as the first beneficiary of this groundbreaking scheme.

(With inputs from agencies.)