When the Maximum cover was 20 lks,the threshold limits were justified at present levels.Now with 44% increase in premiums,the threshold limits need to be doubled for all the three categories as the maximum cover has been raised to 30 lks entailing a cascading effect on account of the 44% increase in premium.
The Federations/Associations of both the in service & retired employees need to take up the issue vigorously with the LIC Management.Otherwise many employees/Retirees may revoke their options for increased cover which is a lose-lose situation both the employees/Retirees and NIA.
Greetings.
C H Mahadevan
C H Mahadevan