GIS Group Insurance Scheme Final Settlements (Claims) Details, GIS Claim on Retirement, GIS Claim on Death while in Service, GIS Final Settlement when where abouts not known. Details of of Group Insurance Scheme Final withdrawal/Final Settlements/Final Claims. There are three types of GIS Claims. GIS Claim on Retirement (or on super annuation), GIS Claim on Death while the employee in service, GIS Claim for the Death employee when where abouts are not known.
GIS Claim on Retirement:
Saving Fund The total accumulation of saving fund together with the interest thereon will be payable to the Member on his retirement after attaining the age of superannuation oron cessation of his employment, as per Table of Govt. Order/Memo. of Fin. &Plg. Department, Govt of A.P.
GIS Claim on Death While in Service
Sanctioning Authority:
GIS head of account
Government have indicated the following Head of Account for accounting of the deposits and payments of the Andhra Pradesh State Government Insurance Scheme
GIS Group Insurance Scheme Final Settlements (Claims) Details
There are three types of GIS Claims. GIS Claim on Retirement (or on super annuation), GIS Claim on Death while the employee in service, GIS Claim for the Death employee when where abouts are not known.
Saving Fund The total accumulation of saving fund together with the interest thereon will be payable to the Member on his retirement after attaining the age of superannuation oron cessation of his employment, as per Table of Govt. Order/Memo. of Fin. &Plg. Department, Govt of A.P.
GIS Claim on Death While in Service
- Insurance Fund: Lumpsum payment of 15,000/ per one unit subscription
- Saving Fund: Total amount of Saving fund accumulation together with interest on parwith retired employees
Payment when where abouts not known:
- Savings Fund to be refunded after expiry of one year following the month of disappearance.
- Insurance fund to be refunded after expiry of 7 year following the month of disappearance.
- The family must lodge complaint in the police station concern and obtain report stating that the employee has not been traced, after all efforts are made. An indemnity Bond should be obtained from the nominee /dependents of the employee stating that all payments shall be adjusted against the payment due to the employee in case he/she appears on the scene and makes any claim. Recovery of subscription.(a) Full subscription for one year at the rate applicable on the date of dis-appearance + interest, to berecovered from the refundable Savings Fund. (b) Premium for Insurance cover + interest for further period of 6 years be recovered from the refundable insurance fund. (G.O.Ms.No.111, F&P Dt. 22-4-88)
- In the event of Retirement/Death--- H.O.
- If H.O. is a non-Gazetted officer –- His immediate superior officer.
- For the head of office himself –- His immediatesuperior officer.
- For head of Dept.,-Secry. To Govt., Admin.
- For employees on deputation – Head of parent Dept.,
- Annual certificates recorded in the S.R.
- Nominations recorded in the S.R.
- The sanction order should indicate :
- (a) Insurance Fund and Savings Fund separately.
- (b) Relevant bio-data of the employee.
- (c) In the case of death of employee, the names of Beneficiaries and the share of amounts payable to each.
- Name and Designation of the employee.
- Scale of Pay.
- Date of commencement of Insurance cover and the Group to which he/she is enrolled initially.
- Change to higher Group w.e.f.
- Date of retirement/resignation/death.
- Name of the nominee/legal-heirs in the event of Death of the employee.
- Calculation of savings fund and interest thereon as Order from time to time (A separate annexure copy of which should invariably be sent to Director of Insurance)
- Total Amount sanctioned under savings fund (Savings fund + Interest thereon)
- Total amount sanctioned under Insurance fund in the event of death of the employee.
- Head of Account for payment of savings fund/Insurance fund/Interest separately.
Government have indicated the following Head of Account for accounting of the deposits and payments of the Andhra Pradesh State Government Insurance Scheme
- M.H. 8011 -Insurance and Pension Funds
- 107 -State Government Employees Group Insurance Scheme.
- S.H. (01) - Group Insurance for State Government Employees
- (02) -Group Insurance Scheme for Panchayat Raj Employees.
- (04) -Group Insurance for Market Committee Employees.
- (001) -Insurance Fund (Receipts / Disbursements)
- (002) -Savings Fund (Receipts / Disbursements).
