* CHRONICLE - PENSIONERS CONVERGE HERE, DISCUSS ISSUES OF THEIR CHOICE * CHRONICLE - WHERE EVEN THE CHAT COLUMN PRODUCES GREAT DISCUSSIONS * CHRONICLE - WHERE THE MUSIC IS RISING IN CRESCENDO !

Friday, January 22, 2016

'Bank News'

(REPRODUCED FROM 'BANK PENSIONER')

Terms & Conditions of Group Medi-claim policy issued by United India Insurance Co. Ltd for future renewal

Following are the terms and conditions on which mediclaim policy will be renewed for the retirees by United India Insurance Company Limited

(1) Company will continue cover for next 3 years
(2) The policy will be renewed on the following premium

Claim Ratio Discount/ Loading to the Premium

Not Exceeding 25 % 40 % Discount
Not Exceeding 30 % 35 % Discount
Not Exceeding 40 % 25 % Discount
Not Exceeding 50 % 15 % Discount
Not Exceeding 60 % 05 % Discount
61 % - 110 % No Discount no loading
111 % - 115 % 05 % loading
116 % - 120 % 07 % loading
121 %- 125 % 10 % loading
126 %- 130 % 13 % loading
131 % - 135 % 15 % loading
136 % - 140 % 18 % loading

In view of the above next year premium for renewal will be as under depending on claim ratio.

Sum Assured Minimum Maximum

For Rs 3 Lakhs Rs. 2958 plus taxes Rs 5817 plus taxes
For Rs 4 lakhs Rs. 3948 plus taxes Rs.7756 plus taxes