GO.36 APGLI Revised Slab Rates, Enhancement of Insurable Age to 55 Years

AP GO.35 APGLI Revised Slab Rates In View of Enhancement of Age of superannuation from 58 to 60 years and introduction of AP Revised Scales of Pay 2015. Go.36 Dt:05/03/2015, Enhancement of Maximum Insurable Age under AP Government Life Insurance Scheme from 53 years to 55 years and Revision of Rates of Compulsory Premium with reference to PRC 2015. The complete AP Go.36 regarding Revised APGLI Slabs as follows.

As per the existing rules of APGLI, the AP 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. 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 .

As per G.O.Ms. No.147, Finance (HRM IV) Department, dt: 30.6.2014, the AP Government enhanced the age of superannuation of the State Government employees from 58 years to 60 years. As per G.O.Ms.No.46, Finance (HRM.V-PC) Department, dt:30-04-2015., the Government has issued orders introducing the Revised Scales of Pay 2015.

After careful examination of the proposal of the Director of Insurance, Government hereby order that the maximum Insurable age is 55 and 55 years and the rates of compulsory premium under the scheme shall be revised as detailed below.

Instructions to the DDO and Insurer

1. All the AP employees shall increase their premium as per the revised rates specified above and submit requisite 'Proposal Form',
2. After recovery of first APGLI premium from the salary at the revised rates and take an Insurance Policy from the Insurance Department.
3. Unless proposal form is submitted and policies are obtained, the employees will not get Insurance coverage for the enhanced premium paid.
4. An employee who is already a subscriber of the Fund having Policy / Policies, and is aged below (55) years can enhance the premium for additional policies.
5. An employee who is already a subscriber of the Fund but is aged above (55) years cannot increase the Premium for additional Policies.
6. The minimum term of Policy should be (5) years i.e., Maximum age at entry shall not be more than (55) years.
7. The Director of Insurance, Andhra Pradesh shall take necessary action in this regard.
8. The Sum Assured table Annexed to this order shall be reviewed at least once in every (5) years. The Director of Insurance, Andhra Pradesh shall take timely action in this regard.
9. Necessary amendments to the Andhra Pradesh Government Life Insurance Fund Rules shall be issued separately.
10. These orders shall come into force with effect from 01.04.2016 and the above revised premium rates shall be recovered from the pay of March, 2016, payable on 01.04.2016.

Reference APGLI GOs

1. G.O.Ms.No. 16, Finance (Admn.II) Department, dt: 17.2.2011.
2. G.O.Ms. No.147, Finance (HRM IV) Department, dt: 30.6.2014.
3. Lr.No.10/Genl/2014dt:11.08.14, of Director of Insurance, A.P., Hyderabad.
4. Govt. Memo.No.738/90/A1/Admin-II/2014, dt: 26.12.2014.
5. G.O.Ms.No.368, Fin&Plg (FW:Admn.II)Department, dt: 15.11.1994.
6. G.O.Ms. No.423, Finance (Admn.II) Department, dt: 29.11.2005.
7. G.O.Ms.No.231,Finance (Admn.II)Department, dt: 28.6.2010
8. G.O.Ms.No.46, Finance (HRM.V-PC) Department, dt:30-04- 2015.
9. Lr.No.26/Genl/2015 dt: 06.08.2015 of Director of Insurance, AP, Hyderabad.

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