Download form for claiming AGI Maturity and application for extended AGI Scheme as Appendix "T" .
Maturity Benefit. At the time of retirement/release/discharge, Officers are paid their maturity amount based on the length of service and amount contributed.
Disability Benefit. Disability benefit is paid to those who are invalided out of service before completing their contractual service of the rank and their service is cut short due to disability. The disability benefit is equal to 50 percent of sum insured for 100 per cent disability, which is reduced proportionally upto 20 percent disability. Present disability benefit applicable to eligible members is as under :-
Percentage of Disability
Amount Payable
Officers
PBOR
20 %
1,50,000/-
75,000/-
30 %
2,25,000/-
1,12,500/-
40 %
3,00,000/-
50 %
3,75,000/-
1,87,500/-
60 %
4,50,000/-
2,25,000
70 %
5,25,000/-
2,62,500/-
80 %
6,00,000/-
90 %
6,75,000/-
3,37,500/-
100 %
7,50,000/-
Ex-Gratia Disability Allowance for severely handicapped category of disabled personnel at the time of Invalidment. In addition to maturity amount and disability benefit as mentioned at paras 58 & 59 above, with effect from 13 Oct 2006 Board of Governors has approved to establish a corpus fund equal to 50 per cent of the insurance amount for special category of handicapped soldiers like paraplegics, tetraplegic, totally blind, loss of both limbs, who are dependent on others for day to day activities and are provided Constant Attendance Allowance. These special category of pers are provided Ex-Gratia Disability Allowance in addition to normal disability benefit to enable them to improve their quality of life. This corpus fund is only for those categories of personnel who are invalided out with 100 per cent disability and provided Constant Attendant Allowance (CAA) permanently. The interest earnings on this amount will be paid to the beneficiary during his life time only. On the demise of the member, corpus amount will be refunded to AGIF Disability Fund
Benefit in case of death while in Service.
Benefits under main Insurance scheme. In case of death during service irrespective of cause of death the following benefits are provided to the NOK of Officers under insurance scheme :-
Ser No
Regular Army
Depends on contribution made
Cadets (IMA & OTA)
(a)
Insurance
Rs. 15 Lac
(b)
Maturity
Rs. 15 lac
Nil
NDA
Rs. 8 Lac
Territorial Army
Ser No Type of benefit NOK of Offrs Regular Army (a) Insurance Rs. 15 lac (b) Maturity Depends on contribution made Cadets (IMA & OTA) (a) Insurance Rs. 15 Lac (b) Maturity Depends on contribution made 10+2 (TES) Entry (a) Insurance Rs. 15 lac (b) Maturity Nil NDA (a) Insurance Rs. 8 Lac (b) Maturity Nil APS (Deputationists from P & T) (a) Insurance Rs. 15 lac (b) Maturity Depends on contribution made Territorial Army (a) Insurance Rs. 9 lac (b) Maturity Depends on contribution made
Additional Insurance Cover to Aviation Corps Officers
It was started in Oct 1981 by the Army Group Insurance Fund. The scheme presently provides an additional insurance cover of Rs. 3 lac to Army Aviation Corps Officers from whom an additional monthly subscription varying from to Rs. 250/- to Rs. 325/- based on rank structure is charged.
Benefits under House Building Advance (HBA) and Conveyance Advance (CA) Linked Group Life Insurance Schemes. The AGIF has introduced a compulsory Group Insurance Scheme to insure all loanees under the AGI HBA and CA Linked Group Life Insurance Schemes for an amount equivalent to the scheduled outstanding loan due to the AGIF. Under these schemes, all loanees are compulsorily insured by charging a one time non-refundable premium calculated on reducing balance of loan amount. In the event of death of a loanee, the NOK will not be required to pay the scheduled outstanding balance of AGI House Building/Conveyance loan. However, there is no saving component/survival benefit payable under this scheme.
Benefit to NOK in case of death of officers after retirement
Extended Insurance Scheme. Extended Insurance (EI) scheme was implemented with effect from 01 Jan 81. It is a term insurance which provides only risk cover during the period of policy and there is NO saving or survival benefit. The insurance cover and period of cover vary from Rs. 65,000/- to Rs. 4,00,000/- and 15 yrs to 25 yrs years depending on the date of retirement. The Extended Insurance cover for those members who have retired with effect from 31 Dec 2004 is Rs. 4 lac and Rs. 2 lac for officers and PBOR respectively which is upto 25 yrs after retirement or 75 years of age whichever is earlier.