Group Term Insurance for BSNL Executives and Non-executives —guidelines for annual renewal of the scheme w.e.f. 01.03.2024
BHARAT SANCHAR NIGAM LIMITED
(A Government of India Enterprise)
CORPORATE OFFICE
Establishment Branch
Bharat Sanchar Bhawan
Mathur Lane, New Delhi-01
F. No. BSNLCO-A/11(11)/2/2022-ESTAB
Dated: 09.02.2024
To,
All Heads of Telecom Circles &
All Heads of other Administrative Units
Bharat Sanchar Nigam Limited
Subject: Group Term Insurance for BSNL Executives and Non-executives —guidelines for annual renewal of the scheme w.e.f. 01.03.2024.
Sir,
I am directed to refer to the above mentioned subject and to state that the Group Term Insurance (GTI) Policy for BSNL Executives and Non-executives is due for renewal w.e.f. 01.03.2024. The new rates of premium for one year i.e. from 01.03.2024 to 28.02.2025 will be as indicated below:
(a) Executives:
| Age Criteria / Slab | Sum Assured | Revised annual premium (including GST) |
| (i) Born on or after 15.09.1973(Upto 50 years of age) | ₹ 50 lakhs | ₹ 9440/- |
| (ii) Born before 15.09.1973 (Above 50 years of age) | ₹ 50 lakhs | ₹ 45,430 /- |
| ₹ 20 lakhs | ₹ 18,172 /- |
(b) Non-Executives :
| Age Criteria / Slab | Sum Assured | Revised annual premium (including GST) |
| (i) Born on or after 15.09.1973 (Upto 50 years of age) | ₹ 20 lakhs | ₹ 3776/- |
| (ii) Born before 15.09.1973 (Above 50 years of age) | ₹ 20 lakhs | ₹ 18,172/- |
2. Ail existing members as well as new entrants will have to compulsorily exercise their option to avail the GTI schema through ERP-ESS Portal during the online window. There will not be auto renewal of the scheme. In case the employee, including existing member, does not exercise any option, he/she will be considered to have not opted for the GTI scheme.
3. The premium for existing members (executive and non-executive) who entered the policy before attaining the age of 50 years and choose to continue the policy, will be the same as applicable for below 50 years age group. However, if any executive employee, who entered the policy after attaining the age of 50 years, he/she can switch between the sum assured of ₹ 20 lakhs and ₹ 50 lakhs, by paying applicable premium.
4. There is no change in the terms and conditions in respect of existing members. However, for new members the following condition will also be applicable:
- The employee should not be absent from work on the ground of health on the Renewal Date.
5. Since limited time is available for exercising the option, all employees shall take extra care in exercising the option. The online window for exercising option in ERP-ESS portal will be open from 10.02.2023 to 14.02.2023 (05 days). However, window for withdrawing the option for the new entrants only, if he/she so desires, can exercise this option during a separate online window from 15.02.2023 to 16.02.2022 (02 days).
6. Important guidelines for exercising online option on the ERP-ESS portal are provided in the Annexure.
This is issued with the approval of competent authority.
Encl: Annexure.
Yours faithfully,
[Sanjeev Kumar]
Asstt. General Manager (Estt. I)
Tel. No. 23037477
COMMENTS