Saturday, 5 March 2016

GO MS No 36 APGLI Enhancement of Monthly Premium as per RPS-2015 in Andhra Pradesh



Public  Services    GO MS No 36 APGLI Andhra  Pradesh  Government  Life  Insurance  Scheme – Endowment Policies – Enhancement of Age of superannuation from 58 to 60 years and introduction of AP Revised Scales of Pay 2015 - Enhancement of Maximum Insurable Age under AP Government Life Insurance Scheme from (53) years to (55) years and Revision of Rates of Compulsory Premium with reference to Revised Pay Scales, 2015 – Orders – Issued.

Public  Services  –  GO MS No 36 APGLI Andhra  Pradesh  Government  Life  Insurance  Scheme – Endowment Policies – Enhancement of Age of superannuation from 58 to 60 years and introduction of AP Revised Scales of Pay 2015 - Enhancement of Maximum Insurable Age under AP Government Life Insurance Scheme from (53) years to (55) years and Revision of Rates of Compulsory Premium with reference to Revised Pay Scales, 2015 – Orders – Issued. http://www.paatashaala.in/2016/03/go-ms-no-36-apgli-enhancement-of-premium-andhra-pradesh-as-per-rps-2015-.html

Under the existing rules, the Andhra Pradesh Government Life Insurance Department issues the Endowment Insurance  Policies  to the Government employees based on the maximum insurable age of 53 years and these policies will mature at the age of 58 years. In the Government orders fifth to seventh read above, the compulsory premium under the policy has been revised as and when the Revised Pay Scales were implemented to the State Government Employees based on the recommendations of the successive pay revision commissions and the existing rates are prescribed in the G.O. seventh read above.

 In the reference 2nd cited, the Government enhanced the age of superannuation of the State Government employees from (58) years to
(60) years.

 In the G.O. eighth read above, the Government has issued orders introducing the Revised Scales of Pay 2015.

      Consequent to enhancement of age of superannuation from (58) years to (60) years and introduction of the Revised Scales of  Pay, 2015, the Director of Insurance, in his letter 3rd cited, has sent proposals for enhancement of the maximum Insurable age from 53 years to 55 years and to revise the rates of compulsory premium based on the Revised Scales applicable to various categories of employees. The Government in the memo fourth read above, permitted the Director of Insurance to take necessary further action and submit detailed proposals after consulting the Actuary and the Accountant General, A&E, Andhra  Pradesh.

       Accordingly, the Director of Insurance has submitted necessary proposal in his letter ninth read above.

       After careful examination of the proposal of the Director  of  Insurance, Government hereby order that the maximum Insurable age under the Andhra Pradesh  Government  Life  Insurance  Scheme  be raised from 53 years to 55 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 (Pay Slabs)
Monthly Premium (Rs.)
Revised Slab Rates (Pay Slabs)
Monthly Premium (Rs.)
Pay from Rs. 6700 to Rs. 8440
250/-
Pay from Rs. 13000 to Rs. 16400
500/-
Pay from Rs. 8441 to Rs. 10900
350/-
Pay from Rs. 16401 to Rs. 21230
650/-
Pay from Rs. 10901 to Rs. 14860
450/-
Pay from Rs. 21231 to Rs. 28940
850/-
Pay from Rs. 14861 to Rs. 18030
600/-
Pay from Rs. 28941 to Rs. 35120
1150/-
Pay from Rs. 18031 to Rs. 25600
750/-
Pay from Rs. 35121 to Rs. 49870
1400/-
Pay from Rs. 25601 and above
1000/-
Pay from Rs. 49871 and above
2000/-
 

Click here to Download GO MS No 36 APGLI Premium Enhancement 

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