Jeevan Sahay Scheme

  • Every member shall make a non-refundable contribution of Rs.500/- towards the Jeevan Sahay Scheme at one time.
  • The Society shall maintain this account as per Clause 2a(Objects) and shall frame Sub-Rules for the management of this fund with the approval of the Joint Registrar of Co-operative Society.
  • On the death/permanent disability resulting in separation from the BPCL-KR/ BPCL ECS-E 226/CREAS, a member who have contributed to the this fund, the society shall pay-off up to Rs.10,00,000/- (subject to the availability of the funds) from the total balance outstanding of member’s loan account. In order to arrive the total balance outstanding of the member, the following criteria shall be adopted:
  • The risk fund received from the government shall first be reduced from the total outstanding and the balance only shall be reckoned for pay-off.
  • If the total outstanding amount of member’s loan account is less than Rs.10,00,000/- then the pay-off shall be limited to that amount.