Telangana’s Rs1 Crore Insurance Scheme Emerges Lifeline for Singareni Employees
Hyderabad, May 31 (TNT): A pioneering accident insurance scheme providing coverage of up to ₹1.25 crore to Singareni employees has emerged as a major social security shield, benefiting workers and their families across Telangana and setting a benchmark for employee welfare in the country.
Launched in 2024 by Chief Minister A. Revanth Reddy and Deputy Chief Minister Bhatti Vikramarka Mallu, the insurance scheme has already provided financial assistance to more than 45 families, with insurance claims worth nearly ₹41 crore disbursed so far.
The cover is extended free of cost to employees through corporate salary account arrangements with banks, without any premium burden on workers.
The accident insurance coverage ranges from ₹1 crore to ₹1.25 crore, while employees are also entitled to natural death insurance benefits ranging between ₹10 lakh and ₹15 lakh, depending on the bank. The scheme additionally covers permanent and partial disability arising from accidents.
Singareni officials said the initiative has brought financial security to families affected by unforeseen tragedies. Several bereaved families have received compensation running into crores of rupees, helping them meet household expenses, children’s education needs and future obligations.
The welfare measure has also been extended to nearly 30,000 outsourced workers, while retired employees receiving pensions through participating banks continue to enjoy accident insurance coverage ranging from ₹30 lakh to ₹1 crore.
In addition, a ₹50 lakh health insurance scheme has been introduced for employees and their families at a nominal annual premium, further strengthening the social security network available to the workforce.
What began as a welfare initiative for Singareni employees has since been expanded to power utilities and other government organisations in Telangana and is increasingly being recognised as a model for employee welfare across India.
TNT TS
