Premium Rates

Rate of Premium & Its Recovery

The monthly premium payable by the insured under the insurance scheme shall be such as is specified below or revised by Government order from time to time.

Premium rates declared by the government vide letter No. F. 4 (36) FD/Revenue/96- Part. Dated 30.10.2017

Pay Slab and Premium Rates

S. No. Pay drawn in Levels in the Pay Matrix Rate of monthly premium (Rs.)
1 Upto Rs. 22000/- Rs.500/-
2 Rs. 22001/- to Rs. 28500/- Rs.700/-
3 Rs.28501/- to Rs. 46500/- Rs.1300/-
4 Rs. 46501/- to 72000/- Rs.1800/-
5 Above Rs. 72000/- Rs.3000/-
6 Maximum Rs.4000/-

Further Assurances:

Whenever, as a result of change in pay slabs, the premium already payable by an insured falls short of the premium to be payable by him, further assurance shall be granted for incremental premium & incremental recoveries shall be effected from his pay from the month of March of the same financial year.