Union Bank of India extends Rs 10 lakh insurance cover for TGRTC employees

Union Bank of India has extended life insurance coverage to TSRTC employees, offering Rs 10 lakh for natural death without requiring any premium. The existing Rs 1 crore accident insurance continues, benefiting approximately 38,000 employees and their families.

Hyderabad: The Union Bank of India (UBI) has extended insurance benefits to the TGSRTC employees with salary accounts, now covering Rs 10 lakh for natural death.

According to RTC officials, this benefit, which will be effective from April 1, 2026, requires no premium to be paid by the employee, as it is fully bank-funded. Further, Rs 1 crore accident insurance, which is currently offered, will also continue.

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The move is expected to benefit around 38,000 employees, providing added financial security to their families.