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G.O.Ms.No.36,Dt.05.03.2016 - APGLI-Enhancement of Maximum Insurable Age from (53) years to (55) years & Revised Slab Rates



GOVERNMENT OF ANDHRA PRADESH
A B S T R A C T
Public Services Andhra Pradesh Government Life Insurance Scheme – Endowment Policies Enhancement of Age of superannuation from 58 to 60 years and introduction of AP Revised Scales of Pay 2015 - Enhancement of Maximum Insurable Age under AP Government Life Insurance Scheme from (53) years to (55) years and Revision of Rates of Compulsory Premium with reference to Revised Pay Scales, 2015 – Orders Issued.

FINANCE (ADMN.DI&IF) DEPARTMENT

G.O.Ms.No.36                                              Dated: 05-03-2016
Read the following:-


1.    G.O.Ms.No. 16, Finance (Admn.II) Department, dt: 17.2.2011.
2.    G.O.Ms. No.147, Finance (HRM IV) Department, dt: 30.6.2014.
3.    Lr.No.10/Genl/2014dt:11.08.14, of Director of Insurance, A.P.,
Hyderabad.
4.    Govt. Memo.No.738/90/A1/Admin-II/2014, dt: 26.12.2014.
5.    G.O.Ms.No.368, Fin&Plg (FW:Admn.II)Department,
dt: 15.11.1994.
6.    G.O.Ms. No.423, Finance (Admn.II) Department, dt: 29.11.2005.
7.    G.O.Ms.No.231,Finance (Admn.II)Department, dt: 28.6.2010
8.    G.O.Ms.No.46,   Finance   (HRM.V-PC)   Department,   dt:30-04-
2015.
9.    Lr.No.26/Genl/2015 dt: 06.08.2015 of Director of Insurance, AP, Hyderabad.

***

 O R D E R:

Under the existing rules, the Andhra Pradesh Government Life Insurance Department issues the Endowment Insurance Policies to the Government employees based on the maximum insurable age of 53 years and these policies will mature at the age of 58 years. In the Government orders fifth to seventh read above, the compulsory premium under the policy has been revised as and when the Revised Pay Scales were implemented to the State Government Employees based on the recommendations of the successive pay revision commissions and the existing rates are prescribed in the G.O. seventh read above.

2. In the reference 2nd   cited, the Government enhanced the age of superannuation of the State Government employees from (58) years to (60) years.

3 In the G.O. eighth read above, the Government has issued orders introducing the Revised Scales of Pay 2015.

4. After careful examination of the proposal of the Director of Insurance, Government hereby order that the maximum Insurable age under the Andhra Pradesh Government Life Insurance Scheme be raised from 53 years to 55 years and the rates of compulsory premium under the scheme shall be revised as detailed below and accordingly issue the following instructions:-




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