PNB Expands Insurance Protection for Indian Army Officials

Punjab National Bank has enhanced insurance coverage for Indian Army personnel under its PNB Rakshak Plus scheme. Effective April 1, 2024, benefits include increased air accident coverage to Rs 1.5 crore and personal accident coverage to Rs 1 crore, among other improvements.

PNB has further enhanced the insurance coverage under the ‘PNB Rakshak Plus’ scheme availed by the Indian Army personnel with effect from April 1, 2024. Over the years, the public sector bank has increased coverage amount and launched fresh features to convey its continued support to the armed forces.

Key highlights of the enhanced PNB Rakshak Plus scheme include:Key highlights of the enhanced PNB Rakshak Plus scheme include:

- Ex- Air Accidental Insurance coverage has been increased to Rs 1. 5 crore

- Personal Accident Insurance and disability coverage have been enhanced to Rs 1 crore.

- Opting for an added Rs. 10 lakh cover for accidental death during operations

- These are as follows: For the purchase of imported branded medicines and for transportation up to Rs 10 lakh.

- The air ambulance expenses could go up to Rs 10 lakh.

The new and improved MoU was sealed between PNB’s Chief General Manager Sunil Agrawal and Major General V K Purohit of Additional Director General Personal Services at the Army Headquarters.

Other officials present at the signing ceremony were PNB Executive Director Kalyan Kumar and Director General Manpower Planning & Personal Services Lt. Gen. V Sreehari.

This special personal accident insurance scheme for Indian army personnel is open to all serving employees of the Indian army and defense service pensioners, who get their pensions through credit to their PNB account through SPARSH/CPPC. The scheme is applicable for the central and state police pensioners and also for the employees and pensioners of various security forces like BSF, CRPF, CISF, etc.

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This improvement in benefits is a testimony to the regular patronage between the Indian Army and Punjab National Bank to ensure the armed forces fraternity receives the best support to enable them carry out their patriotic duties.