We reproduce below the circular issued by AIBRF
Quote
Ref:2017/97 Date: 19.09.2017
The office Bearers/ Central Committee
Members/ State Body Chiefs
A.I.B.R.F
Dear Comrades,
Re: Super Top Up
Policy for Retirees &
Renewal of Basic
Policy for 2017-2018
We request you to refer our circular no.
2017/91 dated 28.08.2017 advising detailed procedure to be followed and terms
and conditions thereof for obtaining
AIBRF New India Super Top Up
Policy.
2. We are pleased to inform you that we
have been advised by New India Assurance Company Limited through Pragmatic
Insurance Broking Pvt, Limited that on review of the matter, it has decided to
increase the amount of sum insured under AIBRF New India Super Top Policy as
under for the year 2017-2018.
(a)
For
Retired Officer from Rs. 4 lakhs to Rs. 6 lakhs
(b)
For
Retired Award Staff from Rs. 3 lakhs to Rs. 5 lakhs.
Premium amount will remain the same
as advised earlier:
(a)
For Retired
Officer Staff ( Sum Insured Rs. 6 lakhs) Rs. 3806 inclusive of GST.
(b)
For
Retired Award Staff ( Sum Insured Rs. 5 lakhs) Rs 3511 inclusive of GST.
Further we have been advised that the insurance company has agreed to offer discount of Rs. 300 to family
pensioners and pensioners who have lost their spouses who take policy on single
basis. For above category, insurance premium will be as under
(a)
Retired
Officer Staff on single basis ( Sum Insured Rs. 6 lakhs) Rs. 2925 + GST Rs.
527 Total Rs. 3452
(b)
Retied
Award staff on single basis ( Sum Assured Rs. 5 lakhs ) Rs. 2675 + GST Rs. 478 Total Rs. 3157.
Last Date for submission has been extended
to 10.10.2017. However the condition that policy will become operative when
minimum 10000 proposals are received by above date remain unchanged.
O3.
We have also been informed that same proposal forms can be used for
availing Super Top policy for enhanced amount as above
and
amount of sum assured can be suitably altered while filing the forms. Proposal
forms already sent will remain valid and excess amount in case of single basis will be refunded after
encashment of the cheque.
04.With the above improvements made in
AIBRF New India Super Top Up Policy by New India Insurance Company which is the
largest insurance company of the country and having record of highest claim settlement ratio, Super Top
policy has become very attractive and favourable for the retirees .
05. You will kindly appreciate that
because of initiatives taken by AIBRF to deal the matter, entire scenario of
group medical insurance has undergone
for qualitative change for retirees. Now retirees can enjoy very healthy cover
of Rs. 10 lakhs/ 8 lakhs for their treatment. We are happy to note that because
of steps taken by AIBRF , United India Insurance Company has started responding
quickly and positively on group insurance issues.
UNITED INDIA INSURANCE COMPANY RENEWAL OFFER AND SUPER TOPUP POLICY
We find that as per the communication
issued by United India Insurance Company addressed to IBA, it has agreed to
renew group insurance medical policy for 2017-2018 ( without domiciliary
benefit) on the same premium as applicable
last year except some increase due to new tax rates. Details are as
under.
(a)
Retired
Award Staff (sum insured Rs. 3 lakhs) Rs. 12333 including taxes
(b)
Retired
Officer Staff ( sum insured Rs. 4 lakhs ) Rs. 16443
However UIICL has made steep increase in
premium amount for renewal of policy with domiciliary benefit up to 10 per cent
of sum insured. Details are as under:
(a)
Retired
Award staff ( Sum insured Rs. 3 lakhs.) Rs. 27750/- including taxes.
(b)
Retired
Officer staff ( Sum insured Rs. 4 lakhs ) Rs. 36998.
The Company has
also announced that (a) it will open the policy for retirees without
domiciliary benefit who have not opted
for it in the past (b) Retirees who have availed domiciliary facility will be
allowed to switch for non-domiciliary policy (c) Those retired during 2016-2017
will have option to join the scheme with or without domiciliary benefits.
The company has
announced launching of Super Top Policy for retirees on the same terms and
conditions as applicable to the basic policy. Details of premium are as under:
(a)
Retired
Award staff: ( Sum Insured Rs. 4 lakhs) Premium Rs. 3511 including taxes.
(b)
Retired
officer staff ( Sum Insured Rs. 5 lakhs ) Premium Rs 3806 including taxes.
We now request our affiliates to initiate
the following steps in the matter:
(a)
Approach
the bank managements for issue of immediate communications for renewal of
insurance policy for 2017-2018.
(b)
Advise
the members details of renewal as well
as super top policy and select the best super top up policy which they find
most suitable for them.
We feel that steep increase in renewal
premium for renewal of policy with domiciliary benefit is too high and
unbearable. To charge about Rs. 20000 extra for benefit of Rs. 40000 makes the whole scheme irrelevant and against
the spirit of insurance scheme. We are
taking up the matter with IBA.
With Regards,
Yours
Sincerely,
( S.C.JAIN)
GENERAL SECRETARY
Unquote
At this rate probably premium for domiciliary treatment related policy would increase every year forcing people to opt out it. Judicious decision has to be taken by retirees having regard to the domiciliary expenses incurred last year/claimed and sanctioned. I feel one can still opt for Domiciliary policy if total expenses to be incurred is likely to be around Rs.40000/. which is less than the premium payable.
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