Monthly Contribution and Insurance Cover
-
Details of the insurance cover and monthly rate of contribution for different categories is tabulated below:-
| Sl No
|
Category
(Aircrew Officers &
Aircrew Airmen)
|
Monthly
Contribution
( )
|
Amount of
Insurance Cover
from 01 Oct 18 To 31 Mar 22 ( )
|
Amount of
Insurance Cover
wef 01 Apr 22 ( )
|
| Saving Element |
Risk Element |
Total |
Life |
Disability (100%) |
Life |
Disability (100%) |
| 1. |
Fg Offr & Flt Lt |
500 |
470 |
970 |
12,00,000 |
6,00,000 |
15,00,000 |
7,50,000 |
2. |
Sqn Ldr to Gp Capt |
500 |
360 |
860 |
12,00,000 |
6,00,000 |
15,00,000 |
7,50,000 |
3. |
Air Cmde & above |
500 |
240 |
740 |
12,00,000 |
6,00,000 |
15,00,000 |
7,50,000 |
| 4. |
Airmen Aircrew |
270 |
230 |
500 |
6,00,000 |
3,00,000 |
7,50,000 |
3,75,000 |
Recovery of Contribution
-
The monthly contribution for the revised FPLI-14 will be recovered through IRLA from the pay of the month
of all concerned aircrew officers and aircrew airmen.
Life Cover
-
The amount of life insurance cover under this Scheme will comprise the cover assured and the accumulated balance of Saving Element of contribution up to the month of death together with interest and bonus as applicable.
Disability Cover
-
The amount of disability insurance cover for 100% disability will be 50% of the amount of the life cover and will reduce proportionately up to a minimum of 20% disability admissible in case of invalidment out of service as approved by the DGMS(Air). Disability cover payable will be in addition to the accumulated balance of Saving Element, together with interest and bonus.
-
The accumulated balance of the Survival Benefit (SB) under the earlier FPLI-81 Scheme held with AFGIS
in the credit of each member would continue to earn interest and bonus, if any, as approved by BoT. The accumulated balance of FPLI-81 and the Survival Benefit under FPLI-14 would be payable to the member or his/her nominee(s) at the time of retirement/superannuation or along with the insurance cover/disability cover, as may be the case. The concept of break-even point in FPLI-81 will not apply to FPLI-14.
-
The revised insurance cover (life /disability) shall apply to claims arising on or after 01 Oct 18.
-
All other terms and conditions which were applicable to FPLI-81 Scheme would remain same for FPLI-14 scheme.
Ex-Gratia
-
Ex Gratia is paid to Aircrew Officers and Airmen declared permanently medically unfit for flying duties and retained in IAF,
cease to draw flying allowance. Click for details
-
Wef 01 Apr 22, BoT has approved not to effect any recovery in cases where the aircrew is upgraded from permanently medically unfit category subject to non-credit of flying allowance during the period.