Get Refund Lakhs of Rupees from AGIF : Know your Entitlement

At the time of retirement, you must have got an extended insurance benefit from AGIF. But do you know what is your condition, what are the terms, what is your premium deducted at the time of retirement? 

You had to pay an amount of around Rs. 30,000, whatever was the rate at the time of retirement. You had to pay an amount under which you have got an extended insurance. And how many years is the coverage of this insurance? How long it is valid ? And when this period ends, will you get the amount back? Your sum assured may be 1 lakh, 2 lakh, 4 lakh, 6 lakh, whatever the amount is, according to your rank, will you get the money return? 

Table of Refund of AGIF

Ser NoPeriod of RetirementSum AssuredTerm of Cover(Whichever is earlier)Refundable
OffrsJCOs/ ORYrs Post RetirementAge in Yrs 
1.01 Jan 81- 31 Mar 8965,00030,0001065No
2.01 Apr 89 – 31 Mar 941 L0.5 L1065No
3.01 Apr 94 – 30 Jun 992 L1 L2070No
4.01 Jul 99 – 30 Dec 043 L1.5 L2072No
5.31 Dec 04 – 29 Jun 094L2L2675No
6.30 Jun 09- 30 Jul 106L3L2675No
7.31 Jul 10 – 30 Dec 136L3L2675Yes
8.31 Dec 13 – 31 Dec1410L5L2675Yes
9.01 Jan 15 – 31 Mar 1710L5L3080Yes
10.01 Apr 17 – 31 Dec 2110L5L3080No
11.01 Jan 22 – 31 May2210L5L26 – Offrs 30 – JCOs/ OR80 – Offrs 75 – JCOs/ ORNo
12.01 Jun 22 Onwards15L7.5LYes

Do you know? In this aticle , we will discuss all these things in detail. According to your date of retirement, how long will you get the insurance cover? And when the insurance cover ends, will you get any amount refunded? If you get it, how much will you get? 

Army ESM, may get refund lakhs of rupees from AGIF Insurance Scheme. And in this extended insurance scheme, Army, Navy and Air Force are applicable for everyone with different name and different controlling authority. We will only discuss about Army AGIF here. See, AGIF’s extended insurance scheme was applicable from 1st January 1981. That means, if you have retired after 1981, then only this article is applicable for you. Now see, if you have retired after 1981, then to get extended insurance, a compulsory deduction has been done. You have to deposit premium, which has been deducted from your AGIF balance, the maturity amount. 

Now, what is that amount? And how will you get that amount in return? See, at the time of demise of ESM, when a serviceman dies, his next of kin has to get a death certificate and an extended insurance certificate. Both of these photocopies have to be sent directly to AGIF. You don’t have to go through the record of this. You can get an attestation from the district attorney’s board and send it directly to AGIF. Now see, what is applicable for this? It has a table. 

This table has been issued by AGIF.  You can see in this table, it is rank wise and how much sum is insured for which rank, and for how many years post-retirement and for how much age.Now see, how many years of your age or post-retirement have passed, whichever will end earlier. For example, from 1st January 1981 to 31st March 1989, the people who had retired, their total amount of coverage, for example Rs. 30,000/- and Rs.65,000 for a exserviceman, and post-10 years, after retirement, you will get up to 10 years or 65 years of age, whichever is earlier. 

And after this term ends, you will not get any amount in return. You will only get insurance coverage. If there is an accident, if an exserviceman dies, then the amount you can see on the table, for an officer, Rs. 65,000, and for a JCOs/OR employee, only Rs. 30,000, and for 10 years, i.e. if you have retired in 1989, then up to 1999, after that you will not get. Or when you have completed 65 years of age, whichever is earlier. 

Now you can see in this, from 1989 to July 2010, those who have retired, you can see the amount on the table, and you will not get any kind of refund. When will you get a refund? From July 31, 2010 to March 31, 2017, those who have retired, you can see according to your rank, those who have retired from December 13, Rs.3,00,000, and those who have retired from December 14, Rs. 5,00,000, and for March 31, 2017, Rs. 5,00,000, this amount you will get a refund, on completion of 26 years, and like from January 1, 30 years of age, or 75 years of age, whichever is completed earlier, after that you will get this amount of return.

That is, the extended insurance certificate you have, keep it safe, because your age of 75 years, or after your retirement, after 26 years, then you send the extended insurance certificate, to AGI, then you will get Rs. 3,00,000, or Rs. 5,00,000, whichever is applicable for you, or if you are an officer, then you will get a refund of Rs.6,00,000, or Rs. 10,00,000. Okay, after 2017, it was closed for a few days, now it has started again, from January 1, 2022, those who are still retiring, still keep the extended insurance certificate safe, because you too, after 26 years of age, 30 years of age, or after your age of 75 years, after that, you will get a refund of Rs.7,50,000. 

So , this is not a small amount, that is why, the extended insurance certificate of AGIF, keep it safe, inform your family about it, that if any kind of incident occurs, if death occurs, then the family will get coverage of the incident. 


Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top