A large number of people in the country are members of the Employees' Provident Fund Organization. They have PF accounts. Few people know that the EPFO provides free life insurance of up to ₹7 lakh to its members without any additional cost or premium. Today, we're going to provide you with information on this matter.
Under the government scheme EDLI, employees are insured. In the event of an untoward incident or death during employment, the insurance amount is directly transferred to their family or nominee. The employee does not need to fill out any separate forms or undergo medical tests.
This protection cycle automatically operates as long as you are an active EPF member. As soon as an employee opens a PF account, they become eligible for this life insurance plan. In the event of an EPF member's death while in service, the lump sum insurance amount is paid to their nominee or legal heir.
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