Thursday, September 28, 2017


Issue of Policies
  1. After deduction of first Premium, the employee has to fill up and submit a proposal form duly signed and attested by his/her DDO/Head of office for obtaining APGLI policy.
  2. In respect of second or subsequent policies also, the policy holder has to submit proposal forms and obtain subsequent policies.
  3. Only premium payment without submission of proposal form will not give any risk coverage or monetary benefit to the subscriber and such payments will be treated as unauthorized amounts which will be refunded on application with out any interest or bonus.
  4. Employees who have completed (53) years of age are not eligible to take APGLI policies(first or subsequent).
  5. Proposals submitted after(53) years of age will not be considered for issue of policies even if premiums are paid prior to 53 years of age.

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Sailent Features:

  1. The Government employees who are between 21 and 55 years of age are eligible for taking   APGLI Policies.
  2. The APGLI Department issues only Endowment Policies which mature one day before attaining(58) years of age.
  3. APGLI policies do not lapse.
  4. The Premium rates are low.
  5. APGLI Premium is exempted from income tax under section 80C.
  6. Attractive Bonus rates.
  7. The present rate of Bonus is Rs 100/- for every Rs 1000/- Sum Assured per annum.
  8. The Loans are sanctioned up to 90% of Surrender Value.
  9. Only Simple Interest of 9% per annum is charged against loans sanctioned.
  10. In case of maturity of the policy, the total Sum Assured and Bonus till Date of Maturity are paid to the policy holder.
  11. If the Policy Holder ceases to be Government servant, and decides to surrender the policy by discontinuing the payment of Premium, the subscriber will be paid the Surrender Value and the eligible Bonus.
  12. In case of Death of policy holder before maturity of the policy, the full Sum Assured along with Bonus till date of death are paid to the legal heirs.

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