National Insurance Co. now offers multiple top-coverage medical insurance policies for bank retirees under IBA medical policy for retirees. Now top-up is available for Rs.2 lakh, 3 lakh,4 lakh, and 5 lakh.
The details are as follows;
| Top- up premium for retiree and spouse | Top-up premium for retiree and spouse |
| For Rs.2 lac 27101 including GST 31979 | For Rs.2 lac 24391 including GST 28781 |
| For Rs.3lac 34101 including GST 40499 | For Rs.3 lac 30691 including GST 36215 |
| For Rs.4 lac 31979 including GST 48499 | Rs.4 lac 36991 including GST 43649 |
| For Rs.5 lac 51101 including GST 60299 | Rs.5 lac 45991 including GST 54269 |
The total premium payable by a retiree with GST with top-up including GST for award staff retirees (for Retiree + Spouse) is as follows:
| Base Policy | Top up Rs.2 lakh | Top up 3 lakh | Top up 4 lakh | Top up 5 |
| 3 lakh : | 28545 (*base policy premium for 3 lakh) | 28545(*base policy premium for 3 lac) | 28545(*base policy premium for 3 lac) | 28545(*base policy premium for 3 lac) |
| +Top up premium | 31979 | 40499 | 48499 | 60299 |
| Total Premium Payable including GST | 60524 | 69044 | 77044 | 88844 |
| Total insurance covered | 5 lac | 6 lac | 7 lac | 8 lac |
The total premium payable by a retiree with GST with top-up including GST for Officer Staff retirees is as follows:
| Base Policy premium | Top up Rs.2 lakh | Top up 3 lakh | Top up 4 lakh | Top up 5 |
| 4 lakh: | Rs.40900 (base policy premium for 4lac) | Rs.40900 (base policy premium for 4 lac) | Rs.40900 (base policy premium for 4 lac) | Rs.40900 (base policy premium for 4 lac) |
| +Top up premium | 31979 | 40499 | 48499 | 60299 |
| Total Premium Payable including GST | 72879 | 81399 | 89399 | 101199 |
| Total insurance covered | 6 lac | 7 lac | 8 lac | 9 lac |
The total premium payable by a retiree with GST with top-up including GST for award staff retirees (Single) is as follows:
| Base Policy premium | Top up Rs.2 lakh | Top up 3 lakh | Top up 4 lakh | Top up 5 |
| 3 lakh : | Rs. 25691 (base policy premium for 3 lac) | Rs. 25691 (base policy premium for 3 lac) | Rs. 25691 (*base policy premium for 3 lac) | 25691 (*base policy premium for 3 lac) |
| Top up premium | 28781 | 36215 | 43649 | 54269 |
| Total Premium Payable including GST | 54472 | 61906 | 69340 | 79960 |
| Total insurance covered | 5 lac | 6 lac | 7 lac | 8 lac |
The total premium payable by a retiree with GST with top -up including GST for Officer Staff retirees (Single) is as follows:
| Base Policy premium | Top up Rs.2 lakh | Top up 3 lakh | Top up 4 lakh | Top up 5 |
| 4 lakh: | Rs.36810 (base policy premium for 4lac) | RsRs.36810 (base policy premium for 4 lac) | Rs. Rs.36810 (base policy premium for 4 lac) | Rs.Rs.36810 (base policy premium for 4 lac) |
| +Top up premium | 28781 | 36215 | 43649 | 54269 |
| Total Premium Payable including GST | 65591 | 73025 | 80459 | 91079 |
| Total insurance covered | 6 lac | 7 lac | 8 lac | 9 lac |
The premium payable on top-up policy is still high; Bank retirees may try to find out the premium payable for similar group policies offered by other insurance companies.
