J&K Bank Introduces Medical Insurance for its Retired Employees



J&K Bank has introduced a “Cashless Medical Insurance Scheme” for its retired employees across all cadres, a company statement said on Wednesday.

The scheme, for which premium will be charged annually, provides for 100% reimbursement of hospitalization expenses for the retirees and their spouses. Annual insurance cover will be up to Rs 4 Lakh for retired officers and Rs 3 Lacs for retired workmen.

Notably, the insurance company has enlisted about 5000 Hospitals across India to provide Cashless Medical Facility for active as well as retired employees of the member banks of IBA.

Meanwhile, the bank has extended the last date till March 20, 2016 for receipt of consent for its retired employees to join the said scheme.


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