ARMY GROUP INSURANCE FUND

ARMY GROUP INSURANCE
31 YEARS OF DEDICATED SERVICE

The Army Group Insurance was registered as a society with the Registrar of Societies undertheRegistration of Societies Act, (Act XXI) of 1860 with following objects:-

o To provide Insurance benefit speedily to the families of those Army personnel who may die while in service. o Provide lump sum maturity benefit at the time of retirement.
o To provide any other benefits as may be decided by the Board of Governors from time to time.

· On inception, AGIF had started with just two schemes. It has come a long way sine then and has introduced many schemes keeping in view the socio-economic conditions in the country and the needs of Army personnel and their families. The present AGIF schemes are listed below:

o Life Insurance cover.
o Insurance Cover for APS personnel.
o Insurance cover for DSC personnel.
o Insurance Cover for TA personnel.
o Disability Benefit.
o Maturity Benefit.
o Ex. Gratia Disability Allowance to Severely Handicapped and Disabled Officers and PBOR.
o Additional Insurance Cover for Army Aviation Corps Pilots and MMG Gunners.
o Insurance Cover for Gentlemen/Lady Cadets of NDA, IMA and OTA.
o Sustenance Allowance to Differently Abled Children with Special Needs of Serving Soldiers Dying in Harness.
o Post Retirement extended Insurance Scheme.
o Social Security Deposit Scheme for widows and minors.
o Conveyance Advance.
o Conveyance Advance Linked Group Life Insurance Scheme.
o House Building Advance Scheme.
o House Building Advance Linked Group Life Insurance Scheme.
o Personal Computer Advance Scheme.

BENEFITS AFTER RETIREMENT

· Post Retirement Extended Insurance (EI) Scheme

· EI Scheme was introduced in 1981 with the aim of providing Life Insurance Cover without any maturity benefit to Army personnel after retirement/discharge/release up to a specified period and amount by charging on time non refundable subscription.

· The scheme provides the specified amount of cover to the NOK in case of death of the member within the period of cover, as given in the certificate issued to each member.

· The scheme has undergone periodic reviews and is applicable depending on the date of retirement as given below:-

Benefits after retirement - Click

AGI Extended Insurance Features - Click

NAIKS & EQUIVALENT RANK'S PENSION REVIEW

NAIKS WITH 15 YEARS SERVICE TO BE GIVEN 17 YEARS PENSION

The Government in the year 1998 sympathetically considered to pay 17 years pension to all those pre-86 and pre-96 Naiks and equivalent ranks in the Navy and Air Force who have completed service between 15 to less than 17 years.

The benefits of the order could not be availed by all due to various reasons. (The Govt. (MOD) and the PCDA(P) Allahabad are well aware as to how many Naiks had availed the benefits. As of now, the pensioner and the banks and Govt. have fully forgotten the issue. But whenever any revision of pension is taking place, the existing pension is required to be based on the above orders. Otherwise the revision of pension as per 6th CPC will not be correct and reduction in the revised pension will cumulative.

Therefore, the orders which were issued earlier to revise the pension w.e.f. certain dates i.e. 1.1.92 and from 1.10.96 are required to be taken up now. However in practical point of view it is not possible to revise because of the numbers involved more and all of them are not so much aware of their own entitlement.

In the circumstances, if the government feels sincerely, they can wave all the earlier instructions and fix a table for the revised pension based on these orders and publish it for implementation w.e.f. 01.01.2006 so that atleast from now onwards i.e. from 1.1.2006 these low paid paid pensioners will get some relief.

Based on this concept, our Team leader Sgt.Kandiah, (A retired Canara Bank Officer) had prepared the tables for ready reference. We request the MOD & CDA(P) Allahabad to accept these tables, verify and issue suitable instructions for implementation. If the basic pension as indicated in the tables, does not match with what they are drawing at present, then it must be stepped up to the level shown in the table and paid accordingly. Arrangements may also be made to pay the arrears for the respective periods as mentioned in the earlier orders.(Circular 210, 251, 257 & 350).

Pending our demand for OROP/Parity in pension, this may be done as an interim measure to provide some relief to the low paid pensioners.

Tables for Naiks & equivalent ranks - Click