AGI Extendend Insurance for Exservicemen 1981 to till date
Army Group Insurance is providing insurance for serving and retired Army Personnel since its inception in the year 1981. At the time of retirement, the veterans used to get the maturity value which varies depending on the contribution amount and period.
At the time of retirement, besides the maturity amount, veterans used to get the Extended Insurance (EI) facility with a onetime premium. Extended insurance provided by AGI covers the Life insurance for the veterans upto a certain age or certain period whichever is earlier. The period/age limit has been revised from time to time.
The amount of Extended Insurance premium also refundable for only veterans who retires in a certain period. Remaining all will not get any refund of the EI premium they paid. On expiry of certain period or in the event of death of the Ex-servicemen, the NOK may claim the refundable amount/ coverage amount whichever is applicable. Details of the Insured amount applicable to Army veterans from time to time is described in this table.
AGI Extended Insurance Table of Coverage/Refundable Amount
| Date of retirement / Discharge from Regular Army | Extended insurance contribution Amount Paid during retirement (in ₹) | Refundable or not | Period of Coverage | Insured Amount | |
| Offrs | JCOs/OR | ||||
| 01.01.1981 to 31.03.1989 | ₹ 1640/- | ₹ 580/- | Non refundable | 10 Yrs from date of retirement or 65 Yrs of age whichever is earlier. Later Enhanced to 15 Yrs/70 Yrs of age. | ₹ 65,000/- ₹ 31,000/- |
| 01.04.1989 to 31.03.1994 | ₹ 1640/- | ₹ 580/- | Non refundable | 10 Yrs from date of retirement or 65 Yrs of age whichever is earlier. Later Enhanced to 15 Yrs/70 Yrs of age. | ₹1,00,000/- ₹ 50,000/- |
| 01.04.1994 to 01.07.1999 | ₹ 6,900/- | ₹ 3500/- | Non refundable | 20 Yrs / 70 Yrs of age whichever earlier. | ₹2,00,000/- ₹ 1,00,000/- |
| 02.07.1999 to 31.12.2004 | ₹ 15,300/- | ₹ 6800/- | Non refundable | 20 Yrs / 72 Yrs of age whichever earlier. | ₹3,00,000/- ₹ 1,50,000/- |
| 01.01.2005 to 29.06.2009 | ₹ 31,300/- | ₹ 15,500/- | Non refundable | 26 Yrs / 75 Yrs of age whichever earlier. | ₹4,00,000/- ₹ 2,00,000/- |
| 30.06.2009 to to 30.07.2010 | ₹ 42,660/- | ₹ 22,200/- | Non refundable | 26 Yrs / 75 Yrs of age whichever earlier. | ₹6,00,000/- ₹ 3,00,000/- |
| 31.07.2010 to 30.12.2013 | ₹ 51,900/- | ₹ 25,900/- | REFUNDABLE | 26 Yrs / 75 Yrs of age whichever earlier. | ₹6,00,000/- ₹ 3,00,000/- |
| 31.12.2013 to 31.12.2014 | ₹ 82,300/- | ₹ 41,590/- | REFUNDABLE | 26 Yrs / 75 Yrs of age whichever earlier. | ₹10,00,000/- ₹ 5,00,000/- |
| 01.01.2015 to 31.03.2017 | ₹ 122,250/- | ₹63,500/- | REFUNDABLE | 30 Yrs / 80 Yrs of age whichever earlier. | ₹10,00,000/- ₹ 5,00,000/- |
| 01.04.2017 to 31.12.2021 | ₹ 1,09,220/- | ₹55,291/- | Non refundable | 30 Yrs / 80 Yrs of age whichever earlier. | ₹10,00,000/- ₹ 5,00,000/- |
| 01.01.2022 to 31.05.2022 | ₹ 90,000/- | ₹40,000/- | Non refundable | 26 Yrs / 80 Yrs of age whichever earlier for offrs. 30 Yrs / 75 Yrs of age whichever earlier for JCOs/OR. | ₹10,00,000/- ₹ 5,00,000/- |
| 01.06.2022 onward | ₹ 1,60,000/- | ₹68,000/- | REFUNDABLE | 26 Yrs / 80 Yrs of age whichever earlier for offrs. 30 Yrs / 75 Yrs of age whichever earlier for JCOs/OR. | ₹15,00,000/- ₹ 7,50,000/- |
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