The information regarding Extended Insurance of AGIF for Exservicemen publishedin the official website of Army Veterans – Advisory – 8. According to the advisory, the ESM who retires during the specific period will get the Deposited money refund after cetain age. You may check the table mentioned in this advisory.
EXTENDED INSURANCE (EI) SCHEME OF AGIF
AGIF provides insurance benefit for serving soldiers and Ex-servicemen. The Ex-servicemen are eligible to be covered under Extended Insurance scheme of AGIF. At the time of retirement a one time premium is debited from their AGI Maturity amount which is paid towards the extended insurance scheme for retired life which is nominated to the NOK.
AGIF Extended Insurance scheme was introduced wef 01 Jan 81 as an extension of Insurance cover post retirement.
AGIF EI covers specific period and is applicable as per the cover defined at the time of retirement (Please Note: Earlier retirees not entitled to cover provided by the later modifications to the scheme).
Some special features of AGIF Extended Insurance benefit is as under :-
Onetime non refundable premium deducted at the time of retirement.
Being a term insurance, no survival benefits nor any saving component.
An EI Certificate is issued by AGIF to each individual on retirement.
On demise of ESM, NOK required to inform AGIF along with death certificate and the EI Certificate.
On re-employment, EI scheme is suspended as cover provided by existing insurance scheme.
The EI Table below is for general awareness; specific terms and conditions are given in the EI Certificate.
AGIF Extended Insurance Scheme Table
(Note: Term Period of Cover is for Number of years after retirement or age, whichever is earlier & Amount in Lacs)
|Ser||Period of||Sum Assured||Term of Cover||Refundable|
|Retirement||(Whichever is earlier)|
|Years of age|
|1.||01 Jan 81- 31 Mar 89||65,000||30,000||10||65||No|
|2.||01 Apr 89 – 31 Mar 94||1 L||0.5 L||10||65||No|
|3.||01 Apr 94 – 30 Jun 99||2 L||1 L||20||70||No|
|4.||01 Jul 99 – 30 Dec 04||3 L||1.5 L||20||72||No|
|5.||31 Dec 04 – 29 Jun 09||4L||2L||26||75||No|
|6.||30 Jun 09- 30 Jul 10||6L||3L||26||75||No|
|7.||31 Jul 10 – 30 Dec 13||6L||3L||26||75||Yes|
|8.||31 Dec 13 – 31 Dec 14||10L||5L||26||75||Yes|
|9.||01 Jan 15 – 31 Mar 17||10L||5L||30||80||Yes|
|10.||01 Apr 17 – 31 Dec 21||10L||5L||30||80||No|
|11.||01 Jan 22 – 31 May 22||10L||5L||26 Offrs|
|12.||01 Jun 22 Onwards||15L||7.5L||26 Offrs|
Documents Required For Claiming EI.
- Death certificate issued by Registrar of Birth and Death (Death certificate issued by Military Hospital is accepted)
- Cancelled cheque/cheques with name of beneficiaries (alternatively copy of first page of passbook with names, if cheque does not have name imprinted)
- AADHAR Card of beneficiaries (as proof of identity).
- EI Certificate, if available.
In case beneficiary is other than Nominee / Contingent Nominee
- Claim Affidavit as given on website. https://indianarmy.nic.in/Site/FormTemplete/frmTempSimple.aspx?MnId=iegLcCJTM0g8DBSbZxKdgw1eWKghu /FxucWRmyWQIxs=&ParentID=pnxe/af8jupzKsTPN8ObGQ==&flag=8CKP966uzg96kLov0aWdfQ==
Indemnity Bond with surety as given on website. https://indianarmy.nic.in/writereaddata/documents/Indemnity Bond with.pdf