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 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
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:-
Revised APGLI slab rates in RPS-15
| 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/- |
0 comments:
Post a Comment