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Sunday, 2 December 2018

LIC BOARD approves Group Insce to Retired Employees

Dear All,

1)Yesterday evening,I saw in WhatsApp from Sri NDMehrotra, VP,AIRIEF, Jaipur addressed to me that LIC Board Meeting took place & Group Insce to Retired employees has been approved.He had requested me to find out from LIC CO

2)I tried many times  even Mobile No of ED P& GS,CO, ringing but no response

  Even if it is Sunday today , I tried,got him on line, he responded

3)Information will be correct, but for the time being can be taken to be tentative

 RETIREES Age Group   Amount of GI
  
             60-65 yrs   ----         Rs50 lacs
             65-70 yrs ------------ Rs25 lacs
             70-75 yrs-------------Rs15 lacs

          Over Age 75 ------------  NIL

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4) I enquired about premium .He mentally calculated & said it will be app Rs3 per thousand cover. So, may be Rs15,000 Yearly for 1st Group

He clarified that only because of  cross -rebooting with employees, it is this premium to be paid yearly .Otherwise, it would have been fabulous premium

He is going along with both MDs to Delhi for 2/3 days, for finalising GI to CG Employees & after return CO Circular with full details will be issued,presumably in 10/12 days, he added 

Though at 60-65 retirees are virtually with employees at that age, afterwards, perceptible decline by 50% is noticed, ie Rs 50 lacs to Rs 25 lacs to Rs 15 lacs for the 3 age groups mentioned above

R.B.KISHORE

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