Dear All,
A good news from State Bank of India regarding Defence Salary Package Account.
Our MOD and SBI authorities have signed a MOU on 16-01-2025 for
grant of TLI ( Term Life Insurance ) cover of Rs.10 lacs.to serving Military personnel ( other than Agniveer and Pensioners )
We all know that, the Serving Military persons having DSPaccounts in Banks are covered With PAI personnel Accident Insurance on aacident death and other perks. Pensioners are also covered.
If a military serving person dies in an Accident, he is eligible for Insurance covr of 1 Crore.
Now , as per the new MOU, a provision is available for 10 Lacs insurance cover for any type of death while in Service.
A step by step procedure has been given in SBI website -www.sbilife.co.in
to down load Individual certificate of insurance (PDF file att) for serving person .
All our serving and veterans to note the samre NEWS and pass on to others also to get the benefits.
Authority: BANKING ADVISORY NO. 14/2025 AND
B/27087/SBI/AG/PS-3(P) DATED 11-12-2025.
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