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Friday, March 21, 2014

ADDITIONAL FLOATER COVER PREMIUM TO BE BORNE BY PENSIONERS







LIFE INSURANCE CORPORATION OF INDIA
CENTRAL OFFICE
Dept. Personnel/ER 
Cir.No. CO/PER/ER-A/058/2014                                                                                   
'Yogakshema'
Jeevan Bima Marg
Mumbai-400021.
04th March 2014.
ALL OFFICES OF THE CORPORATION

Re: Revision in limits of cover under Mediclaim Scheme w.e.f. 01-04-2014.

Reference is invited to our C.O. circular No. ZD/1151/ASP/2010 dated 09-04-2010 and ZD/1153/ ASP/2010 dated 18-05-2010.

At present the Sum Insured under the existing Group Medical Scheme covering full time regular employees/ retired employees and corresponding benefit category are as below:-



It has been decided by the Corporation that employees and their family will be covered by a Floater Mediclaim Coverage w.e.f. next renewal of Group Mediclaim Policy i.e. 01-04-2014.

The Family Floater Sum Insured and corresponding benefit category which depend upon employees’ Basic Pay as shown below in Table-A:

There is also provision of optional increased sum insured in which employee can opt for increased sum insured (on floater basis) for Rs.4 lacs, 5 lacs, 6 lacs, 8 lacs, 10 lacs, 12 lacs, 15 lacs & 20 lacs (inclusive of the limits set out in Table ‘A’ above).

Mediclaim cover based on Table-A is compulsory for all employees and retired employees who are under the existing scheme.  Separate instructions will be issued for exercising the option for increased sum insured.

The ratio of sharing of premium between the in-service/retired employees and the Corporation shall be 1:3.  Needless to add, the sharing of premium shall be for family floater sum insured as given in Table-A only.  Premium for additional cover (in excess of family floater sum insured given in Table-A) under above option will be borne fully by the employee.  Sharing of premium for in-service employees will be for in-service employee, spouse and two dependent children and in case of retired employee sharing of premium will be for retired employee, spouse and dependent disabled children.  Dependent disabled children means:

1. Physically handicapped children fully dependent on retired employee, irrespective of age.


2. Mentally retarded children fully dependent on retired employee, irrespective of age.

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