GROUP INSURANCE SCHEME (SPBY) FOR THE PERSONNEL OF BSF
Seema Prahari Beema Yojna was introduced in BSF w.e.f. from 1 st sept 1993 , on year to year basis with the aim of providing insurance cover to BSF personnel against death and disability caused directly or indirectely by any accident while on leave or on duty from Sep 1993 to Aug 2006 . But seeing the increase in number of natural death cases in BSF a need was felt to cover BSF personnel against natural death including suicide.Accordingly , case was taken up with LIC of India to formulate a policy suitable to the requirement of BSF and in the month Aug 2006 LIC came up with a proposal to provide insurance cover to BSF personnel against natural death including suicide , total permanent disability and accidental death cases .An agreement was signed between BSF and LIC officers on 29th Aug 2006 to implement the scheme namely LIC Group Insurance Scheme BSF w.e.f 1st Sep 2006 . The scheme is renewed for the period from 1st Sep 2007 to 31st Aug 2008 with additional benifits including partial permanent Disability also as per details given below :
| S.no |
Death/Disability |
Insurance Cover |
| 1 |
Natural Death /Suicide |
Rs 5,00,000/- |
| 2 |
Accidental Death |
Rs 10,00,000/- |
| 3 |
Death due to Cerebral Malaria occured anywhere in India |
Rs 10,00,000/- |
| 4 |
Disability arising due to accidental injuries |
Rs 5,00,000/- (max) Calculation of the amount will be as per percentage of disability |
Note : The scheme has since been renewed upto 31st Aug 2010.