Karnataka: Postal accident insurance scheme sells big

The ‘Group Personal Accident Guard’ drive is an aggressive campaign to popularise the scheme.
Image used for representational purpose only.
Image used for representational purpose only.

BENGALURU: The recent drive by the India Post Karnataka Circle to enrol more people under its personal accident scheme has received an overwhelming response. An average of 5,000 people have been registering daily for the scheme through the the post’s digital banking arm -- India Post Payments Bank (IPPB).

The ‘Group Personal Accident Guard’ drive is an aggressive campaign to popularise the scheme. It is mandatory to have an IPPB account.

Chief Postmaster General, Karnataka Circle, S Rajendra Kumar said, “The scheme is available at all post offices in the state and can also be availed at the doorstep through the postman.” He said a minimum premium of Rs 520 per annum is being charged for the Rs 10-lakh accidental insurance coverage and Rs 749 per annum for a coverage of Rs 15 lakh.”

TATA AIG, Aditya Birla Life Insurance and Bajaj Insurance are partners. This financial year, more than 20,000 people have registered, he added. Since its inception, 4.5 lakh people have registered for it in Karnataka. “We have processed 66 death claims and settled 256 medical reimbursement cases so far,” the CPMG informed.

The numbers are only increasing with every passing day, the CPMG said. “On Thursday alone (June 12), 6,531 individuals had registered while on Friday (June 14), 12,186 have opted for it,” he said. The scheme will get auto renewed annually.

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