IEEE Members in India have been offered a value-addon services of Group Medical Insurance since 2016 and the same is now entering its 5th year of coverage, had a good start in 2016, 2017, 2018 and 2019, we look forward to increased participation in 2020. The plan is yearly and fresh enrollments are permitted only in March and April every year. The enrollments and renewal will start from 5th March 2020 and would be available till 28th March 2020. Further, new enrollments & fresh Enrollments (not renewing in time) will start from 29th March 2020 and would be available till 25th April 2020. There would be no more enrollments possible after 25th April 2020 for this year.
All those members who wants to Renew should note that last date is 28.03.2020 and failing to renew by then will be treated as Fresh Enrollments and continuation benefits would lapse.
In order to qualify to participate in the plan, the IEEE membership should be active and in good standing at the time of enrolment and policy usage (claims). Ongoing IEEE membership will be required in order to renew the insurance every year, i.e. IEEE membership for 2020 must be active for enrollment or renewal.
The new premium structure and prices for 2020-2021
|
2020–21 |
BASIC PREMIUM WITHOUT GST (in INR) |
||||
|
Sum Insured |
2,00,000 |
3,00,000 |
5,00,000 |
7,00,000 |
10,00,000 |
|
Self (Age up to 35) |
1,068 |
1,249 |
1,770 |
2,301 |
3,136 |
|
Self (Age 36 – 45) |
1,484 |
1,736 |
2,460 |
3,198 |
4,357 |
|
Self (Age 46 – 55) |
2,343 |
2,741 |
3,884 |
5,048 |
6,879 |
|
Self (Age 56 – 65) |
4,076 |
4,768 |
6,756 |
8,783 |
11,582 |
|
Self (Age 66 – 70) |
9,063 |
10,604 |
15,860 |
17,447 |
21,298 |
|
Self (Age above 70) |
10,293 |
12,043 |
18,013 |
19,814 |
24,189 |
|
|
|
|
|
|
|
|
Dependent Spouse (Age up to 35) |
534 |
625 |
886 |
974 |
1,189 |
|
Dependent spouse (Age 36 – 45) |
742 |
868 |
1,229 |
1,353 |
1,652 |
|
Dependent Spouse (Age 46 – 55) |
1,171 |
1,370 |
1,941 |
2,136 |
2,607 |
|
Dependent Spouse (Age 56 – 65) |
2,038 |
2,384 |
3,378 |
3,716 |
4,536 |
|
Dependent spouse (Age 66 – 70) |
4,532 |
5,302 |
7,931 |
9,833 |
12,462 |
|
Dependent Spouse (Age above 70) |
5,147 |
6,021 |
9,007 |
11,709 |
15,954 |
|
|
|
|
|
|
|
|
Children per life up to age 25 |
535 |
626 |
936 |
1,217 |
1,658 |
|
|
|
|
|
|
|
|
Parents per life (Age up to 60) |
4,933 |
5,772 |
8,633 |
11,223 |
15,292 |
|
Parents per life (Age 61 – 70) |
9,540 |
11,162 |
16,695 |
18,365 |
22,419 |
|
Parents per life (Age above 70) |
10,835 |
12,677 |
18,961 |
20,857 |
25,462 |
* 18% GST prevailing for the scheme at the time of enrollment would be applicable on the premium
Key highlights of 2020-2021 Policy
· 5% discount on the total premium then the last year (for Self and Dependent Spouse for Rs. 2,00,000 and Rs. 3,00,000 sum assured)
· 10% discount on the total premium then the last year (for Self and Dependent Spouse (Age till 65 Years) for Rs. 5,00,000, Rs. 7,00,000 and Rs. 10,00,000 sum assured)
· 5% discount on the total premium then the last year (for Self and Dependent Spouse Age above 65 Years for Rs. 5,00,000, Rs. 7,00,000 and Rs. 10,00,000 sum assured)
· Parental Co-pay has been reduced to 15% which the last year was 20%
· Parental claims increased to 75% of Floater Amount which the last year was 50%
The success of the policy and reduction of the premium is only possible with the higher number of enrollments and we request you to kindly promote the same within your Section & Fraternity of IEEE Members. The group medical insurance has been proven to cheaper alternative than the other policies issued/available for Individuals.
All those members who wants to Renew should note that last date is 28.03.2020 and failing to renew by then will be treated as Fresh Enrollments and continuation benefits would lapse.
You can use this link post 05.03.2020