Medical Insurance Policy is expiring on 30th Sep, employees retiring during the policy period are advised to pay 1 month premium

As the current Medical Insurance Policy for active employees is expiring on 30.09.2017 and Policy for the retired employees starts from 01.11.2017; the employees retiring during the policy period (01.10.2016 to 30.09.2017) have to become members of the retired employees scheme by submitting their application through HRMS.

Policy for the retired employees starts from 01.11.2017 and there is a gap of one month i.e. October 2017 for which separate premium with Domiciliary coverage and without Domiciliary coverage, detailed hereunder, as advised by United India Insurance Company shall have to be paid by the retirees.

Pro-Rata premium for one month under retiree policy without Domiciliary coverage

OPTION I (WITHOUT DOMICILIARY)

Cadre

 

Annual Premium

 

Sum Insured

 

Pro-Rata Premium for one  month without GST

GST

@ 18%

Total Premium

 

Officers

13935

400000

1184

213

1397

Clerks/Sub staff

10452

300000

887

160

1047

 Pro-Rata premium for one month under retiree policy with Domiciliary coverage

OPTION II (WITH DOMICILIARY)

Cadre

 

Annual Premium

 

Sum Insured

 

Pro-Rata Premium for one  month without GST

GST

@ 18%

Total Premium

 

Officers

17400

400000

1478

266

1744

Clerks/Sub staff

13000

300000

1104

199

1303

Willing retirees may become members of the insurance scheme by submitting application upto 16.09.2017 in the branches which will be uploaded in HRMS by concerned branches/offices.

The amount of premium will be deducted and remitted to United India Insurance Company on 18.09.2017.