Subscribers to the Employees Deposit Linked Insurance (EDLI) scheme, run by India’s retirement fund manager, will be eligible for a limited period minimum life insurance of as much as Rs2.5 lakh.
The validity of the insurance benefit will end on April 2019, when the next general elections are due.
While the sizeable minimum insurance will be given to the kin of an employee who dies during service, retiring members will get a loyalty benefit of as much as Rs50,000.
Both minimum insurance and the loyalty bonus are being introduced for the first time by the Employees Provident Fund Organisation (EPFO) for EDLI subscribers.
