Dear Shri Gangadharan,
Please find attached Central Office Circular dated 17th December' 2014 and an option form.
1. The Central Office has given another chance to the employees/retired employees for excercising option for increased floater cover. The option has to be excercised by 28th February' 2015.
2. Dependant parents/parents-in-laws will continue to be covered even after retirement of the employee.
Thanks.
P.P. Dhamija
LIFE INSURANCE CORPORATION OF INDIA
CENTRAL OFFICE
Personnel/ERCO/PER/ER-A091/2014
"Yogakshema" ,
Jeevan Bima Marg, Mumbai - 400021.
17th December, 2014
ALL OFFICES OF THE CORPORATIONRe: Group Mediclaim Scheme: Option for
(i) increased cover
(ii) continuation of coverage to dependent parents/parents-in-laws
Option for increased Floater Cover:
Reference is invited to our C.O. circular No. CO/PER/ER-A066/2014 dated 28/04/2014. As per existing Group Mediclaim Policy covering in-service employees, retired employees and their dependents, the compulsory Family Floater Sum Insured and corresponding benefit categories are as under:
There is also provision of optional increased sum insured in which employee can opt for increased sum insured (on floater basis) for Rs.4 Iacs, 5 Iacs, 6 Iacs, 81acs, 10 Iacs, 12 Iacs, 15 Iacs & 20 lacs (inclusive of the limits set out in Table above).
We have been receiving references from those who could not opt for increased cover in policy year 2014-15 and now want to opt increased cover.
The matter has been reviewed and it has been decided to give another option for increased Floater mediclaim cover to those employees/retired employees who could not opt for increased Floater cover earlier. This option is also available to those who had opted earlier but now desire to increase their total coverage. Last date of exercising option by employees/retired employees shall be 28 February, 2015.
Option Form for increased Floater cover is enclosed.
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.
It may be noted that next such option shall be available during renewal of mediclaim policy for the year 2018-19. Continuation of coverage to dependent parents/parents-in-laws:
As per existing provision, dependent parents/parents-in-laws of employees, who are covered
under the scheme, are automatically excluded after the retirement of employee. It has now been decided to allow continuation of the mediclaim coverage for parents/parents-in-laws of employee even after his/her retirement.
All other terms and conditions governing Group Mediclaim Scheme remain unaltered. The above change regarding continuation of coverage to dependent parents/parents-in-laws would come into force with immediate effect.
