In a move that is sure to benefit a lot of working professionals, the Employee Provident Fund Organization has increased the maximum amount assured under Employee Deposit Linked Insurance Scheme, from Rs 3.6 Lakh to Rs 6 Lakh.
The insurance will now also be available to those employees who have worked for less than a year continuously in the same organization. This scheme is an easy to acquire and relatively reliable form of insurance and thus can be a first insurance for a lot of young professionals.
What should you do?
Check if this insurance scheme fits your needs. Remember, if you don’t have dependents, insurance is not useful for you.