RULES OF GSLI AND GI SCHEME

 INSURER- LIFE INSURANCE CORPORATION OF INDIA

 EMPLOYEES JOINING THE SCHEME UP TO 28TH APRIL,2014 ARE COVERED UNDER GSLI SCHEME.

 EMPLOYEES JOINING THE SCHEME ON AND AFTER 28TH APRIL, 2015 ARE COVERED UNDER GI SCHEME

 ELIGIBILITY FOR JOINING THE GI SCHEME (FOR THE EMPLOYEES) : EMPLOYEES JOINING THE BANK AFTER 28 TH APRIL 2004. A
MEMBER ONCE DELETED FROM THE SCHEME CANNOT RE-ENROL HIMSELF/HERSELF IN THE GI SCHEME WITH THE SAME EMPLOYEE
NUMBER.

 ELIGIBILITY FOR JOINING THE GI SCHEME (FOR THE SPOUSES) : 1) AGE BETWEEN 18 AND 60 YEARS 2) RELATED EMPLOYEE MUST
BE ENROLLED IN THE GSLI OR GI SCHEME.

 SPOUSES IN ALL CASES ARE COVERED UNDER GI SCHEME IRRESPECTIVE OF THEIR YEAR OF JOINING.

 FRESH ENROLMENT IN THE GI SCHEME IS EXERCISED ONLINE IN THE MONTH OF APRIL EVERY YEAR.

 CHANGE OF CATEGORY, IF ANY, OF THE EXISTING MEMBERS OF THE GSLI/GI SCHEME COMES INTO EFFECT ONLY IN THE MONTH OF
APRIL EVERY YEAR, EVEN IF PROMOTION/DEGRADATION TAKES PLACE SOMETIME BEFORE.

 PREMIUM HAS TO BE PAID BY A MEMBER POSITIVELY EVERY MONTH. IF A MEMBER FAILS TO PAY THE PREMIUM FOR ANY MONTH
DUE TO LOSS OF PAY OR OTHERWISE, HIS/HER POLICY STANDS DISCONTINUED AND THE BANK WILL NOT BE LIABLE IN ANY
MANNER.
 GSLI : PREMIUM AND LIFE COVER

CATEG SCALE GSLI GI GST SAVING LIFE PAYAB PAYABLE PAYABLE PAYABLE ON DEATH
ORY PREM PREM ON PORTIO COVER LE ON ON ON OF SPOUSE
(Rs) (FOR SPOUS N NON- NATURAL ACCIDENT (OTHERWISE ENTIRE
SPOUSE E DEATH DEATH OF AL DEATH PREMIUM PAID ON
) PREMI EXIT EMPLOYEE OF A/C OF SPOUSE IS
UM(18 OF EMPLOYEE FORFEITED)
%) EMPLO
YEE
A Officer,Scale 425/- 160/- 29/- 268/- 4,00,000/- Accum 4,00,000/- 8,00,000/- 4,00,000/-.
-IV & above ulated + +
Saving Accumulat Accumulat There is no double
Portion ed Saving ed Saving accident benefit on
with Portion Portion death of spouse.
interes with with
t @8% interest interest
p.a. @8% p.a. @8% p.a.
B Officer,Scale 319/- 120/- 22/- 201/- 3,00,000/- Accum 3,00,000/- 6,00,000/- 3,00,000/-
-I to III ulated + + There is no double
Saving Accumulat Accumulat accident benefit on
Portion ed Saving ed Saving death of spouse
with Portion Portion
interes with with
t @8% interest interest
p.a. @8% p.a. @8% p.a.
C Clerical 213/- 80/- 15/- 134/- 2,00,000/- Accum 2,00,000/- 4,00,000/- 2,00,000/-
Cadre ulated + +
Saving Accumulat Accumulat There is no double
Portion ed Saving ed Saving accident benefit on
with Portion Portion death of spouse
interes with with
t @8% interest interest
p.a. @8% p.a. @8% p.a.
D Subordinate 106/- 40/- 8/- 67/- 1,00,000/- Accum 1,00,000/- 2,00,000/- 1,00,000/-
Cadre ulated + +
Saving Accumulat Accumulat There is no double
 Portion ed Saving ed Saving accident benefit on
with Portion Portion death of spouse
interes with with
t @8% interest interest
p.a. @8% p.a. @8% p.a.

GI : PREMIUM AND LIFE COVER

CATEG SCALE GI PREM GI PREM SAVI LIFE PAYABLE ON PAYABLE PAYABLE ON PAYABLE ON
ORY (FOR (FOR NG COVER NON-DEATH ON ACCIDENTAL DEATH OF
EMPLOYEE SPOUSE) PORT EXIT OF NATURAL DEATH OF SPOUSE
) + GST ION EMPLOYEE DEATH OF EMPLOYEE (OTHERWISE
+GST(18% (18%) EMPLOYEE ENTIRE
) PREMIUM PAID
ON A/C OF
SPOUSE IS
FORFEITED)
A Officer,Scale 160/-+ 160/-+ 0 4,00,000/ ENTIRE 4,00,000/- 4,00,000/-. 4,00,000/-.
-IV & above 29/-=189/- 29/-=189/- - AMOUNT OF NO DOUBLE
PREMIUM PAID ACCIDENT
WILL BE BENEFIT
FORFEITED
B Officer,Scale 120/-+ 120/-+ 0 3,00,000/ ENTIRE 3,00,000/- 3,00,000/- 3,00,000/-
-I to III 22/- = 22/- = - AMOUNT OF NO DOUBLE
142/- 142/- PREMIUM PAID ACCIDENT
WILL BE BENEFIT
FORFEITED
C Clerical 80/- + 80/- + 0- 2,00,000/ ENTIRE 2,00,000/- 2,00,000/- 2,00,000/-
Cadre 15/-= 95/- 15/-= 95/- - AMOUNT OF NO DOUBLE
PREMIUM PAID ACCIDENT
WILL BE BENEFIT
FORFEITED
D Subordinate 40/- + 8/- 40/- + 8/- 0 1,00,000/ ENTIRE 1,00,000/- 1,00,000/- 1,00,000/-
Cadre = 48/- = 48/- - AMOUNT OF NO DOUBLE
PREMIUM PAID ACCIDENT
WILL BE BENEFIT
FORFEITED