Expenses connected with treatment and disability due to any cricketing activity would also be covered by insurance, as per the Board's working committee's decision of June 2002.
If a player is unfit to perform in case of an injury due to cricketing activities, he would be paid his retainer for the duration of the contract, BCCI sources said in Mumbai on Wednesday.
At the working committee meeting, held two years ago, when the first concrete decision on awarding graded contracts was taken by the Board, it was proposed to split the contracted players into four groups.
But that was later whittled down to three with the elimination of the proposed retainer to players in the highest bracket, which would have cost Rs 75 lakh per player in that group annually to the Board.
The altered gradation system would see players in the elite group taking home Rs 60 lakh each annually, those in the middle group getting a retainer of Rs 30 lakh per head every year while those making it to the third group would pocket Rs 15 lakh each annually.
The BCCI's special committee formed to grade the players into three groups is scheduled to meet at Kolkata on July 9 before the contract system comes into effect prior to the team's departure for the Asia cup in Sri Lanka. Only those who have played three Tests or 10 ODIs would be eligible to becontracted.