Often people think that if a private job employee dies while on duty, his family gets financial help only from the company or PF. But very few people know that there is also a government life insurance scheme – whose name is EDLI (Employees’ Deposit Linked Insurance Scheme). This scheme is operated by EPFO ​​(Employees’ Provident Fund Organization). Under EDLI, if an employee dies while in service, a lump sum sum assured is paid to his nominee or legal heir. Benefit Range: Minimum Sum Assured: ₹2.5 Lakh Maximum Sum Assured: ₹7.5 Lakh And even if the employee has not completed one year, the family will still get a benefit of ₹50,000. (New Amendment – ​​February 2025) Now the rule of “Continuous Service” has also been made easier – a gap of up to two months between two jobs will now be considered as continuity of service. Claim Process: Nominee has to fill Form 5 IF and send it to EPFO ​​Commissioner along with all the documents. Once all documents are complete, payment is released within 20 days. Remember, your PF is not just a retirement fund but also a life insurance for your family! EDLI — A Silent Protector for the safety of your family.

A major relief news has come out for the insurance holders. The historic decision taken at the 56th GST Council meeting will now be applicable from 22 September 2025, under which 18% GST on health and life insurance has been completely abolished. Now whether you buy Term Life, Ulip, or Endowment Policy – All you have to give is BASE Premium, without any additional tax. As an exercise, GST of ₹ 36 was added to the first ₹ 200 Premium and had to pay a total of ₹ 236. Now the same policy will be available for just ₹ 200. This will make insurance more accessible and economical, especially for the middle class and senior citizens. This decision will strengthen the “Insurance for All by 2047” Vision of the Government of India. According to HSBC’s report, the Health Insurance Premium may decrease by up to 15%. After this news, HDFC Life, SBI Life, LIC and ICICI PRUDINIL were seen in Insurance Stocks like PRDINIL.