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Life after retirement should be a comfortable one, and to double this comfort, the State Bank of India (SBI) has launched a special scheme. The "Comprehensive Pension Package" has been launched for Central Government pensioners.

This isn't just a bank account, but a security blanket that takes care of every need, big or small, of the elderly. Launched on the initiative of the Department of Financial Services (DFS) of the Ministry of Finance, this package aims to make banking much easier and safer for pensioners.

The hassle of a minimum balance is over, and banking becomes free.

There's often a worry about charges deducted when the balance in bank accounts is low. But this new SBI package has eliminated this worry. If you're a Central Government pensioner and you're 70 years of age or older, you can take advantage of this special account.

You won't be required to maintain a minimum balance in this account. This means the account will function smoothly even with a zero balance. Not only this, but the bank will not charge you for SMS alerts. You will also be given a RuPay Platinum Gold debit card, which will have no issuance charges.

Insurance of ₹30 lakh and Guaranteed Extra Security
The biggest strength of this package is its insurance cover. If the pensioner dies in an accident, the family receives Personal Accident Insurance (PAI) cover of up to ₹30 lakh. But the matter does not end there. This core insurance is supplemented with several add-on benefits that provide immense support in difficult times.

For example, if plastic surgery is required after an accident, assistance of up to ₹10 lakh will be provided. If medicines need to be imported for treatment, there is a provision of up to ₹5 lakh for their transportation. The most comforting aspect is that if someone remains in a coma for more than 48 hours after an accident and then dies, a separate cover of ₹5 lakh is provided.

Family and children's future are also taken care of
SBI has not limited this package to pensioners, but has also taken full care of their families. If an air ambulance is needed in an emergency, there is a facility of up to ₹10 lakh. ₹50,000 will also be provided for a regular ambulance.

There is also significant relief for the children of pensioners. Children between the ages of 18 and 25 will receive assistance of up to ₹8 lakh for higher education, and if it is a daughter, this amount increases to ₹10 lakh. Furthermore, the bank will also cover travel expenses of up to ₹50,000 for two family members to reach the scene of the accident upon hearing the news. Assistance of ₹50,000 is also included for the repatriation of the mortal remains.

The facility may also be available at other banks.
Currently, SBI has primarily implemented this scheme, but in the future, other public sector banks such as Punjab National Bank (PNB), Bank of Baroda, Canara Bank, and Indian Bank may also introduce similar attractive packages for central government employees and pensioners. If you want to take full advantage of this scheme, you can contact your nearest SBI branch.

Disclaimer: This content has been sourced and edited from Zee Business. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.