Meeting of Group Term Insurance (GTI).

A meeting of the Recognised Unions and Management on Group Term Insurance (GTI) was held on 25.03.2019. From Management Side, Shri Ashutosh Gupta, GM (Trg.) and Shri Goyal, DGM(Trg.), were present. BSNLEU was represented by Com.Swapan Chakraborty, Dy.GS and Com.Gakul Borah, Treasruer (CHQ). NFTE BSNL was represented by Com.Chandeswar Singh, GS and Com.Islamn Ahmed, President. At the outset the Management given the following informations to the Recognised Unions. 

1. The LIC who has made GTI facility to Executives is ready to give the same insurance benefits to the Non-Executives and it has suggested that the sum assured of insurance can be kept at Rs.20 lakh for Non-Executives, which is within the preview of the Regional Office at New Delhi.
2. If the insurance amount will be more than 20 lakh it may take long time since, it is to be processed by the LIC Head Quarter at Mumbai.
3. The insurance in any case should restricted to 5 times of salary of an employee. Hence, the Non-Executives insured amount can be Rs.20 lakh approx.
4. Since mortality rate is higher in case of Non-Executives, GTI may not be more than of Rs.20 lakh.
5. If the terms and conditions of the GTI for Non-Executives is keeping at par with the Executive policy it may take less time for signing the agreement.
6. According to Executive GTI policy, it is categorised in two groups of employees – i.e, (a) upto 50 years of age and (b)from 50 to 60 years.
7. No saving benefits will be available in GTI.
8. The premium should be in annual basis.

The representatives of the Recognised Unions expressed that they will discussed the matter in their respective levels and will come up with their suggestions / proposals within a short time.