Proposals of LIC on Group Term Insurance - Views of the Karnataka circle union is worth considering.

CHQ of BSNLEU had called for the views of the CEC members, on the GTI proposals given by LIC. Karnataka circle union of BSNLEU has immediately responded. It's views are worth considering and are reproduced hereunder for our comrades to go through.

Respected Com. P. Abhimanyu, G.S., CHQ. I first of all want to congratulate you & CHQ for taking up this issue continuously with the management as a result non-executives will now be extended with GTI scheme. This scheme is very good. At this situation of pandemic and many more unanticipated threat to life it is must that one should have this policy. This will be helpful for family of employees in case of any accidental death in addition to the retirement benefit (if eligible). When the premium is noted it is affordable of course for the age group above 50 up to 59 seems to be high (around Rs.1,525/- monthly including GST 18%), but affordable when risk factor is concerned. For employees of the age group of 18 to 50 is also well within reach (Rs. 360/- monthly). It really helps a lot for DRs. Few clarifications are requested in order to communicate to the employees when enquired. 

1.Will the premium be monthly or yearly. 

2. In the present situation where the premium deducted from salary is not being remitted regularly what happens when in case of claim. Will it lead to in eligibility criteria.

3. Will employee will be allowed to opt for annual premium payment.

4. Will each Employee will get any policy or confirming letter from LIC or BSNL Company.

5. Any rebate for Employees paying annual premium.

I think all the circle secretary can hold one special seminar in this regard and help employees to understand the value of hard earned GTI scheme facility. 

Regards.

SUDHARSHAN. H.V

CS, KRK.