NEW MEDICAL INSURANCE SCHEME – PRO RATA PREMIUM FOR RETIREES BETWEEN 1.10.2018 AND 30.09.2019
Comrades,
As you are aware, Medical Insurance Scheme for the existing staff members would normally end as on 30.09.2019 and as such those who exited the Bank between 1.10.2018 and 30.09.2019 will have to make their own arrangments for renewing the Insurance under Retirees Policy which starts from 1st of November every year.
Since there is always a gap of one month between Staff policy and Retirees policy, Insurance Company provides for covering the gap of one month (October) by collecting pro-rata premium for one month from the willing retirees and to ensure continuity of the Policy for renewing from November.
As such, the Bank has now issued the relevant circular No.7F 72 of 2019-20 dated 05.09.2019 regarding the pro-rata premium and the method for payment of the same by the willing retirees. Last date for payment of pro-rata premium is 24.09.2019.
Members are advised to make use of this opportunity to continue in the Scheme and if willing, ensure payment of premium on or before 24.09.2019 so that renewing the policy in November can be smoother. Please note that those who do not pay the pro-rata premium for continuity of the Policy may find it difficult to renew the policy in November alongwith other retirees.
We have also attached herewith the list of those staff who exited from our Bank after 1.10.2018 upto 30.09.2019 for information of our other members so that they can inform the recent retirees about the Pro-rata premium called for by the Bank.
Reagrds,
Krishnaraj P
Joint General Secretary
Pro-rata Preemium circular dated 05.09.2019
Related Posts
About The Author
