Accidental Death Relief Fund
Financial relief and protection for eligible shareholders and their nominees
Annual Contribution
Contribution towards the Accidental Death Relief Fund
An amount of ₹500/- will be debited from the shareholder's CMTD holdings towards contribution to this fund.
The contribution will be debited on 1st April of every calendar year.
Fund Benefit
Insurance and Society contribution towards eligible claims
Total benefit amount: ₹10,00,000/- (Rupees Ten Lakhs).
₹8,00,000/- will be provided by the Insurance Company.
₹2,00,000/- will be provided by the Society.
Accidental Death & Disablement Benefits
Benefits available according to the nature of accidental injury
Accidental Death Only: Benefit of 100%.
Accidental death along with loss of two limbs, two eyes, or one limb and one eye: Benefit of 100%.
Loss of one limb or one eye: Benefit of 50%.
Permanent Total Disablement (PTD) from injuries other than those specifically named above: Benefit of 100%.
Accidental Death + Disablement + Permanent Partial Disablement (PPD) are covered as per the applicable provisions.
Accidental Death + Disablement + PPD + Temporary Total Disablement (TTD) are covered as per the applicable provisions.
Temporary Total Disablement (TTD)
Benefit payable in case of qualifying temporary disablement
TTD benefit is calculated at 1% of Simple Interest (S.I.) or ₹5,000/- per week or the actual weekly salary, whichever is less.
The applicable benefit is subject to the prescribed terms and conditions of the Relief Fund and Insurance coverage.
Settlement in Case of Accidental Death
Adjustment of outstanding dues and payment to nominee
In the event of accidental death, the outstanding dues in the deceased member's account will be adjusted from the fund benefit.
After adjustment of the outstanding dues, the remaining balance will be paid to the nominee of the deceased member.
The Accidental Death Relief Fund provides benefits subject to the applicable fund rules, insurance terms and eligibility conditions.