Andhra Pradesh Government Life Insurance Scheme-Information

Andhra Pradesh Government Life Insurance (APGLI) Scheme Applicability & Implementation:

Andhra Pradesh Government Life Insurance This scheme has been active for government workers since November 1, 1956. From November 1, 1998, it was also extended to Panchayat Raj teachers (GO.MS.No-212 Finance, Dated: 17-12-1997).

Eligibility Criteria:

• Age between 21 to 53 years.
• Must have completed one year in a pensionable job.
• Both temporary & permanent workers must join this plan.
• If you apply before 53, & pay, even post-53 requests might be okay at the Director’s discretion.
• APGLI goes to all towns except Vijayawada, Visakhapatnam, & other big cities (GO.MS.No-25, Dated: 03-03-2011).

Missing Credits:

According to GO.RT.No.1604, Finance, Dated: 05-12-1978, missing credits must be fixed by the Director of Insurance when they get an affidavit from the policyholder.

• New teachers should write “New Case” on the list.
• After sending in the right form, the proposal gets checked and a policy number is given.
• Policy papers are sent to workers via their departments.
• Forms should go right after the first payment.
• Risk cover starts only after you get a policy number.

When Salary Increases:

• With increments, promotions, or any salary bump, premium rises too.
• Both old & new premiums should be listed with remarks and sent with the new proposal.
• The policy number and premium must be in the Service Register (SR).
• By every year’s end of September, offices must share the Account Slip showing beginning balance, premium paid, loan details, and end balance.
• An employee might raise premium up to 20% of salary more than usual rates with medical tests & Director’s nod (GO.MS.No-36 Finance, Dated: 22-02-1995).
• During leave with pay, premiums still cut from paycheck.
• On Loss of Pay (LWP) or suspension, skipped premiums act as loan against the policy, with compound interest at 4% each year charged & taken from future payments (Rule 36, GO.MS.No-138 Finance, Dated: 10-09-1997; GO.RT.No.1604, Dated: 05-12-1978).

Premium Slabs (As per GO.MS.No-231 Finance, Dated: 28-06-2010):

Nomination Facility:

• Policyholders must name their spouse and kids.
• Blood relatives or in-laws can be chosen too.
• Form should include nominee names, ages, and their father’s name.
  (Ref: APGLI Rule-31)

Policy Tenure & Maturity:

• Policy ends on the day of retirement.
• If one opts for Voluntary Retirement, Health Issues, or resigns, they can:
  • Continue paying monthly/quarterly/half-yearly/yearly till maturity, or
  • Give up policy or settle present value when separating.

Loan Facility:

• One can get a loan up to 90% of policy or surrender value, whichever’s more.
• Payback’s due in 12 to 48 months.
• Interest is 1% over what premium gets from govt.
• Loan repayment is listed separately in the salary slip.

Claim Process (Upon Passing or Maturity):

Death Claim:

Handled by the Director of Insurance with these:

1. Refund Form-02 approved by higher up from parent department.
2. A stamped Advance Receipt.
3. The Original Policy Bond.
4. A valid Legal Heir Certificate.
5. A legit Death Certificate.
6. A valid Withdrawal Certificate from grown unmarried/widowed daughters.
7. If there’s a nominee, they process as per claims.

Maturity Claim:

1. Refund Form-01 (approved by a Gazetted Officer).
2. List all jobs held from policy start till claim date.

Policy Benefits:

• Get a bonus and final bonus as declared by govt.
• Premiums are good for Income Tax exemption.
• Example: A person paying ₹1 from age 21 would get back ₹453.60 after retirement.

(GO.MS.No-29 Finance, Dated: 31-01-2009: Introduced Common Proposal Forms)

Bonus Rates per ₹1,000 Sum Insured: