Naval Group Insurance Scheme(NGIS)

Naval Group Insurance Scheme(NGIS) is a risk cum saving scheme. The general scheme covering all Naval & Coast Guard personnel has been revised w.e.f. 01 Nov 2016 and the rates of subscription and various benefits admissible to members are as follows:-


General Insurance Scheme

(All figures are in Rupees)
Sl Category

Insurance

Cover

Monthly

Contribution

(a)

CG Officers

75 Lakh

7,500.00

(b)

Enrolled personnel

37.5 Lakh

3,750.00


In addition, the NGIS provide an additional General Insurance Scheme for Aviators for which the monthly contribution is as follows:-

(All figures are in Rupees)
Category Contribution  

Officers

1140.00

Enrolled personnels   

580.00


Post Retirement Death Insurance Extension Scheme cover against death only is provided on payment of one time non refundable contribution by officers and sailors on their retirement from the service on completion of pensionable service. This insurance cover does not cover professional flying risk. The period of cover and sum assured for members who join the scheme are as follows:
 

Post Retirement Death Insurance Extension Scheme


Post Retirement Death Insurance Extension Scheme
(All figures are in Rupees)
Category One Time Contribution Insurance Cover Coverage Period

Officers

70,750.00

10.00 Lakhs

For 30 Years after retirement or 75 years of age whichever is earlier

 

Naviks

42,250.00

5.00 Lakhs

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28/02/2017
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