The government has decided to continue providing life insurance to people who lost their jobs as long as they get employed in three years, reports The Hindustan Times.
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The state-run Employees’ Provident Fund Organisation (EPFO) plans to extend life insurance cover to people out of a job at a nominal premium amount for up to three years. Most organised sector workers lose insurance cover after they are unemployed.
The Finance Minister had overruled a decision of the Employees’ Provident Fund Organisation and cut the interest rate to 8.7 percent for the financial year 2015-16.
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Topics: Unemployment Life Insurance EPFO
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