Consequent to enhancement of age of superannuation from (60) years to
(62) years and introduction of the Revised Pay Scales 2022, the Director of Insurance A.P in the reference 10th read above, has sent proposals for enhancement of the maximum insurable age from 55 years to 57 years and to revise the slab rates according to the RPS 2022 along with the sum assured table applicable to various categories of employees.
After careful examination of the proposal of the Director of Insurance, A.P, Government hereby order that the maximum Insurable age under the Andhra Pradesh Government Life Insurance Scheme be raised from 55 years to 57 years and the rates of compulsory premium under the scheme shall be revised as detailed below and accordingly issue the following instructions
Existing Slab Rates (RPS —2015) | Existing Compulsory monthly Premium | Revised Slab Rates (RPS —2022) | Revised compulsory monthly Premium |
Pay from Rs.13000 to Rs.16400 | 500/- | Pay from Rs.20000 to Rs.25220 | 800/- |
Pay from Rs.16401 to Rs.21230 | 650/- | Pay from Rs.25221 to Rs.32670 | 1000/- |
Pay from Rs.21231 to Rs.28940 | 850/- | Pay from Rs.32671 to Rs.44570 | 1300/- _ |
Pay from Rs.28941 to Rs.35120 | 1150/- | Pay from Rs.44571 to Rs.54060 | 18001- |
Pay from Rs.35121 to Rs.49870 | 1400/- | Pay from Rs.54061 2200/- to Rs.76730 | |
Pay from Rs.49871 and above | 2000/- | Pay from Rs.7376 J 3 0 0 0 / – and above |
All the employees shall have to increase their monthly premium as per the revised rates applicable to their basic pay as on date and forward the requisite proposal form to the concerned APGLI office through their DDOs only.
Unless proposal forms are submitted to the extent of their monthly premium contribution and policies obtained, the employees will not get Insurance coverage for the enhanced premium paid.
The Drawing and Disbursing officers have to deduct first premium
deduction as per slab rates only.
A Policyholder can enhance his premium contribution only after
successful completion of one year of service.
3
An employee who desires to get more insurance coverage can increase his/her further premium voluntarily up to 15% of his basic pay, including total premium of all his/her polices by supersession of the existing maximum limit of premium. i.e. 20% of basic pay as per G.O.Ms.No.26 Finance & Planning (FW.Admn-II) Dept.. dated 22.02.1995 with as usual terms and conditions of submission of Good Health Certificate issued by Civil Assistant Surgeon or equivalent cadre Medical officer and a certificate containing particulars of medical leaves for last three years of enhancement in case of Employees who enhanced their premium more than 8% of their basic pay.
An employee who is already a subscriber of the fund having policy/ policies, and is aged below 57 years can enhance the premium for additional policies. However, he/she should submit his application in the prescribed proforma before he actually attains the age of 57years.
Under any circumstances proposal form shall not be accepted if the applicant has already attained the age of 57 years on the date of submission of his application, notwithstanding the fact that the amount was already deducted in the monthly pay bills. Such amounts shall be treated as unauthorized amounts and refunded to the individual following the usual procedure.
An employee who is already a subscriber of the Fund but is aged above
(57) years cannot increase the Premium for additional policies. However, in respect of those employees, recovery of existing premium shall continue for the existing policies till the date of Last Premium due of such policy.
1) In respect of the Policyholders who are suffering from 1) Heart 2) Kidney
3) Lungs and 4) Cancer Ailments their subscription will be restricted to the Compulsory Monthly premium only and subject to the present health condition of proponent.
These orders shall come into force with effect from 01.11.2022 and the above revised premium rates shall be recovered from the pay of October,2022, payable on 01.11.2022.
The Drawing and Disbursing officers concerned are solely responsible for effecting the recovery of revised premiums from all the eligible employees i.e. who are below 57 years of age from the pay of October 2022, payable on 01.11.2022 duly forwarding the requisite proposals forms and obtaining the requisite policies from the APGLI department invariably. If the fixation is delayed for any reason, the premium shall be recovered only from the month of drawl of pay fixation arrears and in such case, no arrears of premium shall be collected.
Copy of this order is available on Internet and can be accessed at address AP Gazettehttps://apegazette.cgg.gov.in
ENDOWMENT ASSURANCE POLICY MATURING AT THE AGE OF (62) YEARS (WITH PROFITS)
TABLE SHOWING THE SUM ASSURED UNDER THE POLICY
Age at next Birthday at entry in years | Sum Assured Rs. |
21 | 424.19 |
22 | 403.61 |
23 | 384.00 |
24 | 365.32 |
25 | 347.51 |
26 | 330.52 |
27 | 314.32 |
28 | 298,87 |
29 | 284.11 |
30 | 270.03 |
31 | 256.58 |
_)._ | 243.73 |
33 | 231.44 |
34 | 219.68 |
35 | 208.43 |
36 | 197.65 |
37 | 187.31 |
38 | 177.38 |
39 | 168.52 |
40 | 159.98 |
41 | 151.73 |
42 | 143.77 |
43 | 136.07 |
44 | 128.62 |
45 | 121.38 |
46 | 114.36 |
47 | 107.71 |
48 | 101.22 |
49 | 94.88 |
50 | 88.65 |
51 | 82.50 |
52 | 76.39 |
53 | 70.28 |
54 | 64.12 |
55 | 57.83 |
56 | 51.34 |
57 | 44.55 |
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