55 Years is the Maximum Insurable Age of APGLI, TSGLI - Fixed by the Governments

55 Years is the Maximum Insurable Age of APGLI, TSGLI - Fixed by the Governments: GO.16 TSGLI/APGLI Maximum Insurable Age is 53 years. AP GO.16 delivered for APGLI Enhancement of Insurable Age from 48 years to 53 years. In this way, Now TSGLI/APGLI most extreme Insurable Age is 53 Year from 2011.

Govt Of AP, Finance Department has given the AP G.O.Ms.No. 16 on Dated: 17-02-2011 for Enhancement of Insurable Age from 48 years to 53 years under Andhra Pradesh Government Life Insurance Scheme. The GO subtleties as follows.

Refreshed: according to the AP GO.Ms.No.36, Dated: 05-03-2016, APGLI Maximum Insurable Age is 55 years under AP PRC 2015 –

Administration OF ANDHRA PRADESH

Public Services – Andhra Pradesh Government Life Insurance Scheme – Endowment Policies – Enhancement of Insurable Age from (48) a long time to (53) a long time – Orders – Issued.

Money (ADMN.II) DEPARTMENT

G.O.Ms.No.16, Dated: 17-02-2011

1.        G.O.Ms.No. 283 Finance and Planning (FR.I) Department, dated 29-10-1979.

2.        G.O.Ms.No. 130 Finance and Planning (Pen-II) Department, dated 21-04-1980.

3.        G.O.Ms.No. 368 Finance and Planning (FW.Admn.II) Department, dated 15-11-1994.

4.        Representation from the President, A.P., Secretariat Association, dated 23-07-2004.

5.        Govt. Notice. No. 177/25/A2/Admn.II/2006 Finance (Admn.II) Department, Dated 07-02-2006.

6.        Director of Insurance Lr.No. 17/General-II/2008-2009, dated:13-08-2004 and 14-12-2010.

7.        G.O.Ms.No. 231 Finance (Admn.II) Department, dated 28-06-2010.

TSGLI/APGLI Maximum Insurable Age:

Request: Under the current Rules the Endowment Insurance Policies gave by the Andhra Pradesh Government Life Insurance Department develop on the guaranteed achieving the age of 58 years.

In the reference third read above, Government have presented the piece paces of obligatory charge towards Andhra Pradesh Government Life Insurance Scheme for the State Government representatives.

In the reference fourth read over, the A.P. Secretariat Association has mentioned to upgrade the Insurable age from (48) a long time to (55) a long time as Life Insurance Corporation of India and other Life Insurance Companies in Government Sector

also, just as Private Sector, for example, SBI Life Insurance, AB Life Insurance, Birla Life Insurance and so on which are taking into consideration Life Insurance up to the age of a long time from the overall population. Consequently, they have mentioned to acknowledge the Life Insurance Proposals of the representatives up to the age of 55 years.

In the reference sixth read over, the Director of Insurance has expressed that the proposition for improvement of insurable age from present (48) a long time to (53) years old is likewise acknowledged by the Accountant General A.P., and furthermore Actuary of the Department.

This will impressively build the exceptional pay of the Department adding more Revenues to the Government Exchequer. Further, the Director of Insurance has expressed that in Rajasthan State Government, the insurable age is (55) a long time, while insurable age in our state is just (48) a long time.

And furthermore the future has additionally worked on impressively because of which the demise rate isn't expanding. Hence, the Director of Insurance has mentioned for upgrading the Insurable age from (48) a long time to (53) a long time as it is helpful to both the workers and to the Government.

In the reference AP G.O.Ms.No. 231, dated 28-06-2010, according to the Revision of Pay Scales - 2010, the necessary premium rates were overhauled with impact from the compensation of June 2010 payable on 01-07-2010.

TSGLI/APGLI greatest Insurable Age is 53 Year

Guidelines on greatest Insurable age:

After cautious assessment of the proposition of the Director of Insurance, Government thusly arranges that the greatest Insurable age will be 53 years rather than 48 years with the accompanying guidelines:

(I) A worker whose age surpasses 53 years as on date of accommodation of proposition structure will not be acknowledged as an individual from the Fund for the issue of protection strategy/arrangements.

(ii) A worker who is now an endorser of the Fund having strategy/approaches, and underneath (53 ) years old can upgrade the premium for extra arrangements.

(iii) A representative who is as of now a supporter of the Fund yet over (53) years old can't expand the Premium for extra strategies. He needs to proceed with the installment of existing Premium until the strategies develop ( Last Premium Due).

(iv) The Sum Assured table which is in power now according to the orders gave in the reference fifth read above to be supplanted by the Sum Assured table attached to this request.

These orders will come into power promptly with impact from 17-02-2011.

Fundamental corrections to the Andhra Pradesh Government Life Insurance Fund Rules will be given independently. APGLI

APGLI Sum Assured Table

Blessing Assurance Maturing At The Age Of (58) Years (With Profits) Table Showing The Sum Assured Under A Life Insurance Policy Is As Follows:

Age next birthday at passage in years and Sum Assured (Rs.)

21 Years – Sum Assured Rs.453.60

22 Years – Sum Assured Rs.437.20

23 Years – Sum Assured Rs.421.10

24 Years – Sum Assured Rs.405.20

25 Years – Sum Assured Rs.389.50

26 Years – Sum Assured Rs.374.10

27 Years – Sum Assured Rs.359.00

28 Years – Sum Assured Rs.344.10

29 Years – Sum Assured Rs.329.50

30 Years – Sum Assured Rs.315.10

31 Years – Sum Assured Rs.301.00

32 Years – Sum Assured Rs.287.20

33 Years – Sum Assured Rs.273.60

34 Years – Sum Assured Rs.260.30

35 Years – Sum Assured Rs.247.30

36 Years – Sum Assured Rs.234.50

37 Years – Sum Assured Rs.222.10

38 Years – Sum Assured Rs.209.90

39 Years – Sum Assured Rs.197.90

40 Years – Sum Assured Rs.186.30

41 Years – Sum Assured Rs.174.80

42 Years – Sum Assured Rs.163.60

43 Years – Sum Assured Rs.152.60

44 Years – Sum Assured Rs.141.80

45 Years – Sum Assured Rs.131.10

46 Years – Sum Assured Rs.120.60

47 Years – Sum Assured Rs.110.30

48 Years – Sum Assured Rs.100.00

49 Years – Sum Assured Rs.90.20

50 Years – Sum Assured Rs.80.60

51 Years – Sum Assured Rs.71.40

52 Years – Sum Assured Rs.62.50

53 Years – Sum Assured Rs.54.10

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