| National Insurance Company has sent their revised rates for Flexible Option coverage of Sum Insured. There is also an option to choose Self + Spouse or Self alone (in the case of single-person coverage). However, if the retired employee and his/her spouse both are alive then in such case family floater premium has to be paid and they cannot buy single-person coverage. The group policy for a period of 12 months which commences from 1st November 2021 and ends on 31st October 2022 has a flexible coverage scheme. According to the circular, the Officer Retirees can also opt for the base insurance coverage of Rs.1,2,3 or 4 lacs and Super Top-up coverage of Rs.2,3,4, and 5 lacs. Workmen Retirees can also opt for the base insurance coverage of Rs.1,2,or3 lacs and Super Top-up coverage of Rs.2,3, and 4, lacs. The details are as under. |
| BASE POLICY WITHOUT DOMICILIARY – PREMIUM | ||
| OFFICER RETIREES | ||
| Sum Insured (Rs) | Self + Spouce | Self |
| 1 lakh | 19462 | 12650 |
| 2 lakhs | 28112 | 18273 |
| 3 lakhs | 33854 | 22024 |
| 4 lakhs | 43249 | 28112 |
| AWARD -STAFF | ||
| BASE POLICY WITHOUT DOMICILIARY – PREMIUM For WORKMEN RETIREES | ||
| Sum Insured (Rs) | Self + Spouce | Self |
| 1 lakh | 15248 | 9911 |
| 2 lakhs | 22025 | 14316 |
| 3 lakhs | 33854 | 22024 |
| II- BASE POLICY WITH DOMICILIARY – PREMIUM | ||
| (A) OFFICER Retirees | ||
| Sum Insured (Rs) | Self + Spouce | Self |
| 1 lakh | 38719 | 25168 |
| 2 lakhs | 55927 | 36353 |
| 3 lakhs | 65107 | 42319 |
| 4 lakhs | 85402 | 55927 |
| (B) AWARD -STAFF | ||
| BASE POLICY WITH DOMICILIARY – PREMIUM FOR WORKMEN RETIREES | ||
| Sum Insured (Rs) | Self + Spouce | Self |
| 1 lakh | 29296 | 19044 |
| 2 lakhs | 42320 | 27508 |
| 3 lakhs | 65107 | 42319 |
| III- SUPER TOP UP POLICY-PREMIUM-OFFICER RETIREES | ||
| Sum Insured (Rs) | Self + Spouce | Self |
| 1 lakh | 4437 | 2884 |
| 2 lakhs | 6917 | 4496 |
| 3 lakhs | 8661 | 5630 |
| 4 lakhs | 10173 | 6612 |
| 5 lakhs | 11601 | 7540 |
| SUPER TOP UP POLICY-PREMIUM-AWARD -STAFF RETIREES | ||
| Sum Insured (Rs) | Self + Spouce | Self |
| 1 lakh | 3118 | 2026 |
| 2 lakhs | 4947 | 3215 |
| 3 lakhs | 6237 | 4054 |
| 4 lakhs | 7425 | 4826 |
| Reimbursement for domiciliary claim is maximum 10% of base policy. Domiciliary claim not available on Super-Top up cover Retirees who are not covered under Super-Top up policy may opt for Super-Top up policy for 2021-22. Retirees can opt for with or without domiciliary treatment for 2021-2022, irrespective of the cover they have availed for 2020-21 |
| Source : Bank of India circular dated 22.09.2021 |
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