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APGLI-Enhancement of age - Revision of voluntary subscription limit

APGLI-Enhancement of age - Revision of voluntary subscription limit

 PUBLIC SERVICES - APGLI-Enhancement of age of maturity from 60 to 62 years Issue of revised sum assured rates for endowment life insurance policy with maturity age 62 years - Revised compulsory deduction rates as per latest Revised pay scale-2022 slabs-increase of insurable age from 55 to 57- Revision of voluntary subscription limit-Orders issued.

 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 55 years and these policies will mature on the insured attaining age of 60 years. In the Government orders fourth to sixth read above, the compulsory premium rates under the policy had been revised as and when the Revised Pay Scales were implemented to the State Government Employees including the Public Transport Department based on the recommendations of the successive Pay Revision Commission and the existing rates are prescribed in the G.O. read above.

 2. In the reference 2nd read above, the Government enhanced the age of superannuation of the State Government employees from (60) years to (62) years.

 3. In the reference 3rd read above, the Government have issued orders introducing the Revised Pay Scales 2022. Consequent to enhancement of age of superannuation from (60) years to (62) years and introduction of the Revised Pay Scales 2022, the Director of Insurance A.P in the reference 10th read above, has sent proposals for enhancement of the maximum insurable age from 55 years to 57 years and to revise the slab rates according to the RPS 2022 along with the sum assured table applicable to various categories of employees.

 5. After careful examination of the proposal of the Director of Insurance, A.P. Government hereby order that the maximum Insurable age under the Andhra Pradesh Government Life Insurance Scheme be raised from 55 years to 57 years and the rates of compulsory premium under the scheme shall be revised as detailed below and accordingly issue the following instructions

 Existing Slab Rates (RPS-2015)

 Pay from Rs 13000

 Existing Compulsory monthly Premium

 500%  Revised Slab Rates (RPS-2022)

 Revised compulsory monthly Premium



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