Naval Group Insurance Scheme
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 Jul 2018 and the rates of subscription and various benefits admissible to members are as follows:-
General Insurance Scheme
| (All figures are in Rupees) | |||
|---|---|---|---|
| Sr. No. | Category | Insurance Cover | Monthly Contribution |
| 1 | CG Officers | 1.5 Crore | 12,500.00 |
| 2 | Enrolled personnel | 75 Lakh | 7,500.00 |
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) | ||
|---|---|---|
| Sr. No. | Category | Contribution |
| 1 | Officers | 1670.00 |
| 2 | Enrolled personnel | 835.00 |
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) | ||||
| Sr. No. | Category | One Time Contribution | Insurance Cover | Coverage Period |
| 1 | Officers | 70,750.00 | 10.00 Lakhs | For 30 Years after retirement or 75 years of age whichever is earlier |
| 2 | Naviks | 42,250.00 | 5.00 Lakhs | |
NGIF Maturity Table
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Page last updated date:20-08-2024 10:47 AM
