| Renewal of UIIC Group Health Insurance Policy for Bank Retirees’ for the period 01.11.2018 to 31.10.2019 |
The renewal premium payable as per last year options and options for reduced basic insurance are given below under Option I, Option II, Option III & Option IV(a) & IV (b)
OPTION I
| RENEWAL WITHOUT DOMICILIARY COVER | CADRE (RETIREES) | SUM INSURED (RS.) | PREMIUM WITHOUT GST (RS) | GST @ 18 % (RS) | TOTAL PREMIUM (RS) |
| 1 | OFFICERS | 4,00,000 | 24400 (75%) | 4392 | 28792 |
| 2 | CLERKS | 3,00,000 | 18301 (75%) | 3294 | 21595 |
| 3 | SUB STAFF | 3,00,000 | 18301 (75%) | 3294 | 21595 |
| RENEWAL WITH DOMICILIARY COVER | CADRE (RETIREES) | SUM INSURED (RS.) | PREMIUM WITHout GST (RS) | GST @ 18 % (RS) | TOTAL PREMIUM (RS) |
| 1 | OFFICERS | 4,00,000 | 69808 (123%)
|
12565
|
82373 |
| 2 | CLERKS | 3,00,000 | 52359 (123%) | 9425 | 61784 |
| 3 | SUB STAFF | 3,00,000 | 52359 (123%) | 9425 | 61784 |
Premium Quote for Super Top-up Policy without OPD Cover for all retirees having
a base Policy with or without domiciliary cover :-
| RENEWAL WITHOUT DOMICILIARY COVER | CADRE (RETIREES) | TOP-UP
SUM INSURED (RS.) |
PREMIUM WITHOUT GST (RS) | GST @ 18 % (RS) | TOTAL PREMIUM (RS) |
| 1 | OFFICERS | 5,00,000 | 4279 | 770 | 5049 |
| 2 | CLERKS | 4,00,000 | 3947 | 710 | 4657 |
| 3 | SUB STAFF | 4,00,000 | 3947 | 710 | 4657 |
Threshold i.e. the sum insured under the main policy after which Super Top up Policy will trigger
OPTION II
| RENEWAL WITHOUT DOMICILIARY COVER | CADRE (RETIREES) | SUM INSURED (RS.) | PREMIUM WITHOUT GST (RS) | GST @ 18 % (RS) | TOTAL PREMIUM (RS) |
| 1 | OFFICERS | 3,00,000 | 23513 | 4232 | 27745 |
| 2 | CLERKS | 2,00,000 | 17220 | 3100 | 20320 |
| 3 | SUB STAFF | 2,00,000 | 17220 | 3100 | 20320 |
| RENEWAL WITH DOMICILIARY COVER | CADRE (RETIREES) | SUM INSURED (RS.) | PREMIUM WITHout GST (RS) | GST @ 18 % (RS) | TOTAL PREMIUM (RS) |
| 1 | OFFICERS | 3,00,000 | 66302 | 11934 | 78236 |
| 2 | CLERKS | 2,00,000 | 48853 | 8794 | 57647 |
| 3 | SUB STAFF | 2,00,000 | 48853 | 8794 | 57647 |
Premium Quote for Super Top-up Policy without OPD Cover for all retirees having
a base Policy with or without domiciliary cover :-
OPTION III
| RENEWAL WITHOUT DOMICILIARY COVER | CADRE (RETIREES) | TOP-UP
SUM INSURED (RS.) |
PREMIUM WITHOUT GST (RS) | GST @ 18 % (RS) | TOTAL PREMIUM (RS) |
| Threshold limit Rs.3 lakh | OFFICERS | 5,00,000 | 6419 | 1155 | 7574 |
| Threshold limit Rs.2 lakh |
CLERKS | 4,00,000 | 5921 | 1066 | 6986 |
| Threshold limit Rs.2 lakh | SUB STAFF | 4,00,000 | 5921 | 1066 | 6986 |
OPTION IV( a)
| RENEWAL WITH DOMICILIARY COVER | CADRE (RETIREES) | SUM INSURED (RS.) | PREMIUM WITHout GST (RS) | GST @ 18 % (RS) | TOTAL PREMIUM (RS) |
| (with domiciallry limit Rs.30000/- | OFFICERS | 4,00,000 | 64921 | 11686 | 76607 |
| (with domiciallry limit Rs.20000/ | CLERKS | 3,00,000 | 48694
|
8765 | 57459 |
| (with domiciallry limit Rs.20000/) | SUB STAFF | 3,00,000 | 48694 | 8765 | 57459 |
OPTION IV(b)
| RENEWAL WITH DOMICILIARY COVER | CADRE (RETIREES) | SUM INSURED (RS.) | PREMIUM WITHOUT GST (RS) | GST @ 18 % (RS) | TOTAL PREMIUM (RS) |
| (with domiciallry limit Rs.30000/- | OFFICERS | 3,00,000 | 64661 | 11099 | 72760 |
| (with domiciallry limit Rs.20000/ | CLERKS | 2,00,000 | 45433
|
8178 | 53611 |
| (with domiciallry limit Rs.20000/) | SUB STAFF | 2,00,000 | 45433 | 8178 | 53611 |
Room rent applicable for options (i), (ii), (iii) & iv(a )/iv(b) is Rs.4000 per day
Related article:Views: Revised premium for iba group medical insurance scheme for retirees-2018-19
Views: Revised premium for IBA Group Medical Insurance Scheme for Retirees 2018-19
It is too much to expect this much premium for domicilliary from retirees as majority ailment r given monthly treatment so domicillary . For ex diabetics kidney disese heart ear tooth liver heart lungs thyroid r all treated domicillarily in 95%cases . Bank also must realise that helping pensioners is a nessessity
You are right. Union/Association of employees in service and retirees associations shall unitedly approach the MD/CEO/Chairman of the bank and request him/her to share the burden of retirees in respect of premium payable on medical insurance.
Yes sir, already we are retired while on duty we have our work sincerely, by taking tension. So that some deceases we are suffering which requires regular medication and checkups. The amount allocated is very small compared to premium to be paid for health insurance.
We are helpless, God can only help us.
Under Option iv (a) and Option iv (b), the domiciliary limit for clerk and sub staff should be Rs 20,000.00
Sir, Thank you for pointing out the error. The mistake is now rectified. Regards,
Bank retired employees are forced to go in for making high health insurance premiums without domiciliary claims,to meet both ends ,without an option.with DOM one has to pay a premium of nearly 4 to 6 months of his pension,which no pensioner can afford.At this rate ,health insurance can surpass well over Rs.1,20,000=00 next year without DOM. Even no god can save the helpless retiree pensioners and they have to suffer from severe health problems unable to meet high medical costs and their dependency will further agaravate.
along with various types of insurance premium/s payments- request IT EFFECTS may be explained
Prasad
You are right but we people do not have alternatives. People who are covered under other Insurance companies may very well quit this scheme. I have posted my views on the following link https://bankingschool.co.in/bank-news/views-revised-premium-for-iba-group-medical-insurance-scheme-for-retirees-2018-19/