ICAI / HRD (P) / 2015 11.09.2015

To all the employees of the Institute

As a welfare measure, the President of the Institute has accorded his kind approval to the extension of the facility of reimbursement of full premium paid by the employees towards the Pradhan Mantri Suraksha Bima Yojana, from out of the funds of the Institute.

It is hereby informed that this facility is extended to all the regular employees in service in the Institute, as on 01.07.2015. Those who have already taken this policy for the period of 2015-2016, are also eligible for reimbursement under this facility.

In order to claim reimbursement under the aforesaid facility, a proof of payment of premium paid for taking insurance coverage under the Pradhan Mantri Suraksha Bima Yojana, along with a request for the reimbursement of the same shall be required to be submitted to HRD (P), ICAI by 10th October 2015.

The highlights of Pradhan Mantri Suraksha Bima Yojana are as under;

Eligibility: Available to people in age group 18 to 70 years with bank account.

Premium: Rs. 12 Per annum.

Payment Mode: The Premium will be directly auto-debited by the bank from the subscribers account. This is the only mode available.

Risk Coverage: For accidental death and full disability - Rs. 2 lakh and for partial disability - Rs. 1 lakh

Terms of Risk Coverage: A person has to opt for the scheme every year. He can also prefer to give a long-term option of continuing in which case his account will be auto-debited every year by the bank.

Who will implement this Scheme?: The scheme is offered by Public Sector General Insurance Companies and other insures who are willing to join the scheme and tie - up with banks for this purpose.

Period: The policy period is from 1st June 2015 to 31st May 2016 (date of joining the Scheme has been extended up to 30th September 2015)

It may be noted that the coverage under the Pradhan Mantri Suraksha Bima Yojana can be taken in addition to any other insurance scheme also. The other details of the policy viz. Pradhan Mantri Suraksha Bima Yojana alongwith relevant forms and FAQs thereon are available at www.financialservices.gov.in or www.jansuraksha.gov.in (Toll free no. 1800180111).

S.K. Garg
(Joint Secretary)