Subscription of members- GROUP INSURANCE SCHEME
Grouping of employees is as follows:-
|
| Scale of pay | Group | Rate of subscription (Rs.) |
| Rs.29180 - 43640 and above | A | 300 |
| Rs.18740 - 33680 and above but below Rs.29180 - 43640 | B | 250 |
| Rs.9190 = 15780 and above, but below Rs.18740 - 33680 | C | 200 |
| Rs.8500 - 13210 and above, but below Rs.9190 = 15780 | D | 150 |
| (The subscription for the Scheme shall continue to be in units of Rs.10 per mensom) |
In the event of regular promotion/appointment of a member from one Group to another, his subscription shall be revised, from the next anniversary of the ‘scheme’ to the level appropriate to the Group to which he is promoted or appointed. Until the date of the next anniversary of the ‘scheme’ he shall continue to be covered for insurance for the same amount for which he was eligible before such promotion/appointment. STATE LIFE INSURANCE SCHEME- PremiumInsured shall have to pay a minimum monthly premium fixed by Government from time to time. The existing rates effective from 1.4.2012 are the following. Vide G.O (P) No. 104/2012/Fin dated 09/02/2012
| Pay range | Rate of monthly premium(Rs.) |
| Basic pay up to Rs. 9189/- | 150 |
| Basic pay from Rs. 9190 to Rs. 18739 | 225 |
| Basic pay from Rs. 18740 to Rs. 29179 | 375 |
| Basic pay Rs.29180/- and above | 450 |
Insured will have to take additional policies when they cross from one pay range to the next pay range.
