RENEWAL OF NEW MEDICAL INSURANCE SCHEME FOR 2019-20 !
Comrades,
You are aware, renewal for New Medical Insurance Policy under IBA scheme is due from 1st November 2019. As such, Bank has issued circular on the same vide Transient series 7F No.83/2019-20 dated 26.09.2019 giving out the details of Premium to be paid, the last date of payment being 27th October 2019. The said circular is attached hereunder for your reference.
General Features of the renewal :
- Members who have opted out of the Insurance Policy earlier are not eligible to enroll once again.
- Existing members who are covered under WITH DOMICILIARY (OPD) policy may be allowed to switch over to WITHOUT DOMICILIARY cover.
- Option to switch over to WITH DOMICILIARY is not allowed.
- Those who retired during 2018-19 but have not paid the pro-rata premium for the month of October 2019 can join with effect from 1.11.2019 by paying full year premium as per this circular.
- Last date of payment of premium is 27.10.2019.
- Payment can be made through online completely through IOB retirees’ portal or through any branch of our Bank by generating Payment challan through Retirees portal.
- Hospital Room rent has been raised to Rs.5000/- per day.
- All other terms and conditions remain the same as per last year. Last year’s Policy is available in our Bank website www.iob.in under Serial No.3 in “Staff and Ex-staff”.
In this connection, we receive lot of queries as to which Insurance Policy to be chosen by the retirees since there are various policies floated by various insurance companies with different rates of premium. Since there are pros and cons of all the policies, we do not intend to advise any particular scheme to the members. Members may therefore analyse these policies in respect to their family/financial circumstances, etc. and decide the same. However, you might agree that a retired member shall not be left without any Medical Insurance Cover during his fag end of his lifetime thus burdening their kith and kin.
We also attach herewith the messages received from our General Secretary and also from one of our members Mr. R Vijayaraghavan, which may be of guidance to you.
We also attach hereunder the detailed letter written by CBPRO to AIBRF as regards the Policy floated by them through New India Insurance Company without consulting the other Retirees Organisations.
** PLEASE NOTE THAT THE BANK AND INSURANCE COMPANY HAVE PERMITTED THOSE RETIREES WHO MISSED TO JOIN THE SCHEME EARLIER, TO REJOIN THE SCHEME WITH EFFECT FROM 1ST DECEMBER 2019 (WITH A WAITING PERIOD OF 30 DAYS FROM THE RENEWED PERIOD). RELEVANT CIRCULAR IS ATTACHED. THOSE RETIREES WHO WISH TO REJOIN MAY JOIN NOW TAKING THIS ONE TIME OPPORTUNITY.
Regards,
Krishnaraj P
Joint General Secretary
Renewal of New Medical Insurance for 2019-20
Message from GS on Medical Insurance Renewal
Message from Mr. R. Vijayaraghavan
Medical Insurance Renewal – One time Option for left outs
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