In an initiative for the welfare of the Air Warriors, the Indian Air Force (IAF) signed memorandum of understandings (MOUs) with several banks in New Delhi today.
According to reports, the IAF signed the MOUs with SBI, PNB, HDFC, AXIS, BOB & ICICI banks in presence of Air Chief Marshal VR Chaudhari.
to offer a specially curated bouquet of benefits and features to all the serving and retired Air Force Personnel and their families through its unique Defence Salary Package (DSP) Scheme,
The IAF informed that the air warriors would be provided an exclusive Defence Salary package following the initiative.
The air warriors will be getting several benefits from the banks under the Defence Salary Package (DSP) Scheme which includes complimentary personal accidental insurance, air accidental insurance, and additional cover in case of on-duty death (during action). They will also be given insurance cover for permanent total disability / partial disability.
The family of the deceased Air Force personnel will get the add-on covers for child education and marriage of girl child.
Likewise, the retired Air Force personnel will be eligible for complimentary personal accidental insurance, irrespective of their age. Similarly, the families of pensioners would be entitled to a number of benefits.