RENEWAL OF MEDICAL INSURANCE POLICY FROM 1ST NOVEMBER 2016

Comrades,

With regard to Group Medical insurance policy for RETIREES due for renewal from 1st November 2016 our Bank is in the Process of issuing Circular shortly. We advise ALL RETIREES to opt ONLY for insurance policy with domiciliary cover. Sum insured is Rs.4 lakh for officers with sub limit for domiciliary cover of Rs.40000/- and Rs.3 lakh for award staff with a sub limit for domiciliary cover of Rs.30000/-. Premium is Rs.20010/-for officer & for award staff Rs.14950/- We are also negotiating with bank for bank share of the premium.

We also adivse you to provide sufficient balance in your pension account or in the account from where your last year’s premium was debited, to enable the Bank to debit & Pay Premium before the due date for renewal ie 31/10/2016*.

Procedure for *Renewal/submitting option* for Insurance policy with _domiciliary cover_will be advised by the bank.

S.B.C. KARUNAKARAN

GENERAL SECRETARY