Pune: The Army has increased the insurance cover for Jawans from Rs 37.5 lakh to Rs 40 lakh. The insurance cover for officers has remained unchanged at Rs 75 lakh.
“The board of governors of Army Group Insurance Fund (AGIF) has approved an increase in insurance coverage for JCOs/ORs from Rs 37.5 lakh to Rs 40 lakh without a change in the monthly subscription. It will come into effect from 1st January 2018.
The enhanced insurance cover is not applicable to personnel of APS and DSC”, states a letter from AGIF dated December 1. It has been sent to all Commands of the Army.
Officials said that counter-insurgency operations in Jammu and Kashmir and North-East region have always been a major task for the Army and its role during disasters and natural calamities across the country has further risen stress on its men.
Army Group Insurance Fund (AGIF) was established in January 1976 as a Group Insurance Society.
The Army Group Insurance has completed 40 years of its dedicated service to the present and past members of the Indian Army and their dependents.
Starting with two schemes in 1976, it operates more than 16 schemes at present and covers approx 20 lakh serving and former members and their dependents.
The scheme also provides disability benefit for eligible members and post-retirement Extended Insurance. This is a self-sustaining venture managed entirely out of the monthly subscription paid by an Army personnel.
