500,000 on account of accidental death benefits in view of the notification dated 13-8-2008 issued by Punjab Rural Support Programme.
It is a non-profit, charitable organization and does not maintain any funds for payment of accidental death benefits nor is there any provision in its memorandum and article of association or contract of source executed with employee providing for payment of such amounts.
1,000,000 under the insurance policy and that the payment by way of accidental death benefit was liable to be made to the respondents.
The grievance of the respondents was that vide notification/order dated 13-8-2008, contributory benefits and additional provision of accidental death benefit (ADB) was made available to the employees.
The crux of the matter is that the group insurance policy issued by the State Life Insurance Corporation of Pakistan covering the period from 31-12-2009 to 30-12-2010 did not provide for accidental death benefit.
An assortment of other riders and options -- for additional term insurance, children's term insurance, guaranteed benefit-amount increases, and accidental death benefits
-- are likewise offered through Cornerstone VUL II.