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The Group Accident Insurance Scheme For Apsrtc By N Chandrababu Naidu’s Government

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By Author: krishna
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The Group Accident Insurance Scheme For APSRTC By N Chandrababu Naidu’s Government

During the tenure of the Telugu Desam Party (TDP) government, led by the then Chief Minister Shri. N Chandrababu Naidu, a significant initiative was undertaken to alleviate the financial burden on families of APSRTC (Andhra Pradesh State Road Transport Corporation) employees in case of accidental death. This TDP scheme, known as the Group Accident Insurance Scheme, aimed to provide much-needed support to the dependents of APSRTC workers in times of tragedy. Under this visionary TDP agenda, the former TDP government collaborated with APSRTC and entered into a contract with M/s National Insurance Company Limited, facilitated by N-Trust Broking Services Private Limited. The insurance premium for each employee was set at Rs. 179, including service tax, per year. Each insured individual was covered for an amount of Rs. 10.00 Lakhs in the unfortunate event of an accident. Browse the official website to get the latest news, especially in politics, and gain a deeper understanding of the TDP's role in ensuring the Group Accident Insurance ...
... Scheme.

The Group Accident Insurance Scheme was officially launched by the N Chandrababu Naidu government on April 1, 2016, with an initial investment of Rs. 1,05,61,000. This initiative extended its protective umbrella to 59,124 APSRTC employees, including officers. The comprehensive details of this TDP development were made public through Cir.No.PD-20/2016, dated April 12, 2016. As of February 15, 2017, there were 26 recorded claims, of which 16 had already been resolved. Each dependent family member of the deceased employee received a substantial sum of Rs. 1.60 crores ($10,000,000) in compensation, demonstrating the commitment of both the TDP government and the insurance company to provide timely support. This TDP contribution to the insurance scheme garnered immense popularity among APSRTC workers and trade unions because of its significant benefits to the families of deceased employees. It served as a vital lifeline, offering crucial financial assistance during times of tragic loss. Recognizing its importance, the TDP leaders, in conjunction with APSRTC, decided to continue this program for the well-being of its workforce, ensuring that the wheels of this initiative remained in motion.

Moreover, the TDP government, under the leadership of N Chandrababu Naidu further extended its support to APSRTC employees by introducing the SBI corporate wage package. This initiative and TDP policies doubled the insurance coverage for APSRTC workers, increasing it from Rs. 30 lakh to Rs. 40 lakh in the event of an employee's demise. As per this enhanced insurance plan, families would receive an additional Rs. 10 lakh in benefits. This decision was made after a thorough evaluation of insurance options provided by various banks and organizations. The APSRTC corporation, in conjunction with the TDP party and N Chandrababu Naidu, chose the SBI corporate wage package to ensure the welfare and security of its dedicated workforce. In conclusion, the introduction of the Group Accident Insurance Scheme and the enhancement of insurance coverage for APSRTC employees underscored the TDP government's commitment to the well-being of its workforce and their families. These TDP achievements not only provided financial security but also demonstrated a compassionate approach toward those who dedicated their lives to public transportation services.

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