Singareni Workers to Get ₹10 Lakh Free Insurance for Natural Death via Union Bank

Hyderabad:Union Bank launched a free Rs 10 lakh life insurance scheme for Singareni employees in case of death from natural causes, following a push from the management of the Singareni Collieries Company Limited (SCCL). The bank offers Rs 1 crore accident insurance to those with corporate salary accounts. Now, it extends coverage to natural deaths too.

SCCL chairman and managing director Dr Buddhaprakash Jyoti guided the initiative which had a special effort from director (personnel & finance) Gowtham Potru.

In 2024, the state Government started the accident scheme with Union Bank. Private insurers charge at least Rs 5,000 monthly for Rs 10 lakh coverage. SCCL employees get it free through the bank, the company said in a statement.