In lieu of the situation that has gripped the country since the onslaught of the second wave of the Covid – 19 pandemic, Karnataka Bank is covering all its employees under a group insurance policy that offers compensation to the family members who lose their loved ones to Covid – 19.
All employees aged 18 – 68 are covered under the insurance including part-time workers. The insurance policy is being carried out in alignment with the Digit Illness Group Insurance. “The premium that the employees have to pay depends on the age group, salary, family particulars, etc. of the employee. We can offer a compensation of about 20 lakh rupees to even 30 lakh rupees”, informed an internal source at Karnataka Bank.
To be eligible to claim the insurance, the death must be purely Covid- related death and various reports, treatment records, hospitalisation summaries, etc. must be provided by the claimants. The bank is also complying with the Indian Banks’ Association (IBA) guidelines of compassionate appointment and offering jobs to the family members of the deceased employee. “In case where the family is in dire financial straits due to losing the breadwinner or having insufficient earning members in the family, we offer them jobs at the bank,” the source said.
The scheme allows family members up to clerical jobs. People who have passed their 10th standard are eligible for the job of an attender, while graduates can avail a clerical position at the bank. These steps will help provide some amount of relief to grieving families. Their loss is immense but such supportive gestures from the organisation will alleviate their pain to a large extent.
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