EPF offers life insurance worth 2.5-6 Lakhs

Source: BasuNivesh

Most salaried employees are unaware that EPF also offers life insurance

Features of EDLI orĀ Employee Deposit Linked Insurance

  • All employees who are the members of EPF are automatically eligible for EDLI.

  • This Life Insurance coverage is irrespective of death occurred during working hours or non-working hours.

  • It covers the death of an employee, irrespective of a cause of death.

  • There are no exclusions under this plan.

  • Coverage and premium will be purely based on your salary but not on age or gender.

  • Earlier there was a condition that one must complete a year to be eligible for EDLI. Recently they removed such restrictions. Hence, you are covered from the first day itself.

  • There is no maximum age set for this insurance.

  • You no need to add nominee separately. Your EPF nomination itself considered for this scheme