Extension of Group Insurance Coverage for Five Years after Retirement dt 17.12.2012′
OFFICE MEMORANDUM
Subject: Group Insurance
I am directed to state that the Group Term Insurance Scheme & Coverage for five years after retirement has been extended from 01.07.2017 to 30.06.2015 with State Life Insurance Corporation of Pakistan.
2. The coverage shall continue to extend to five years after retirement of Government Servants without requiring them to pay a premium after retirement. The Government Servants retiring on or after 01 07.2012 shall be covered for revised sums assured, while Government Servants who retired on or before 30.06.2012 shall be covered for the previous sums assured.
3. The annual and monthly rate of premium deduction, w.e.f. 01.07.2012 in respect of different categories of employees of the Punjab Government shall be as follows:-
| B.P.S. | SUM ASSURED | ANNUAL PREMIUM | MONTHLY PREMIUM |
| 1-4 | Rs.150,000 | Rs. 662.00 | Rs. 55.00 |
| 5-10 | Rs. 175,000 | Rs. 772.00 | Rs. 64.00 |
| 11-15 | Rs. 300,000 | Rs. 1323.00 | Rs. 110.00 |
| 16 | Rs. 450,000 | Rs. 1985.00 | Rs. 165.00 |
| 17 | Rs. 600,000 | Rs. 2646.00 | Rs. 221.00 |
| 18 | Rs. 875,000 | Rs. 3859.00 | Rs. 322.00 |
| 19 | Rs. 1,050,000 | Rs. 4631.00 | Rs. 386.00 |
| 20 & above | Rs. 1,250,000 | Rs. 5513.00 | Rs. 459.00 |
As regards Government Employees in BS-14, 1/4th of total premium (i.e.: Rs.13.75 per employed per month) will be paid by the Government of Punjab and the balance premium of Rs.41.25 per month shall be deducted from their monthly salary.
4. You are requested to issue instructions to all drawing and disbursing officers of your Department to ensure that while passing the pay bills of the employees working under them deduction of Group Insurance premium is made according to above new rates w.e.f. 01.07.2012.
5. The Department Head are requested to ensure that apart from the cases of death during service, claims of retired Government Servants may also by lodged with State Life Insurance Corporation of Pakistan in death us within five years after retirement.
