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Madhya Pradesh: This company’s staff to get ₹1 crore free life cover

A major agreement has been reached for employees and officers in Madhya Pradesh. Madhya Pradesh Power Generating Company has signed this agreement.

BhopalMay 08, 2025 / 01:52 pm

Patrika Desk

MP Power Generating Company signed agreement with SBI and Union Bank

Life Insurance

A significant agreement has been reached for employees and officers of the Madhya Pradesh Power Generating Company (MPPGCL). The company has partnered with the State Bank of India (SBI) and Union Bank of India as part of its salary package. Under this agreement, both banks will provide MPPGCL employees with free life insurance coverage of ₹1 crore. Employees and officers will also receive other benefits.
MPPGCL, keeping the interests of its employees and officers in mind, has signed an agreement with SBI and Union Bank of India for salary package benefits. According to company officials, this agreement will significantly benefit engineers and employees working at the power generating company.
Engineers and employees working at the company can voluntarily receive their salaries from either SBI or Union Bank of India. This will provide employees with free life insurance and other important benefits either free of charge or at discounted rates.

Free ₹1 Crore Accidental Life Insurance

Due to MPPGCL’s agreement with SBI and Union Bank, both banks will provide company employees with free accidental life insurance coverage of ₹1 crore. In addition, salary account holders will receive other benefits from the banks. These include free or discounted home loans, car loans, personal loans, locker facilities, overdrafts, cheques, online banking facilities, life insurance, health insurance, health check-ups, OTT subscriptions, online gym subscriptions, free airport lounge access, and more.

News / Bhopal / Madhya Pradesh: This company’s staff to get ₹1 crore free life cover

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