IEEE Member Group Medical Insurance 2020-2021

Dear Member,

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 

202021

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

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