Naval Group Insurance Scheme(NGIS)

Naval Group Insurance Scheme is a risk cum saving scheme. The general scheme covering all Naval & Coast Guard personnel has been revised w.e.f. 01 Apr 2010, and the rates of subscription and various benefits admissible to members are as follows:-

 General Insurance Scheme

General Insurance Scheme
(All figures are in Rupees)
Element Officers Navik

Contribution

5000

2500

Saving Element

4365

2130

Death risk

510

275

Disability Risk 50 50
War Risk 45 25
Admin 30 20


Addl General Insurance Scheme for Aviators

Addl General Insurance Scheme for Aviators
(All figures are in Rupees)
Element Officers Navik

Contribution

1140

580

Saving Element

821

438

Death risk

297

125

Disability Risk 4 4
War Risk 9 4
Admin 9 9


Post Retirement Insurance 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

 Rs.70,750.00

Rs. 10.00 Lacs

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

 

Naviks

 Rs.42,250.00

Rs. 5.00 Lacs

Back to Top

Last Updated On :

05/08/2016
http://mod.nic.in/ : This link will take you to a webpage outside this website
Last Updated On: 20/01/2017

Visitor Counter :

798662