Re: Digest for bankpensioner@googlegroups.com - 8 updates in 3 topics

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vaidya nathan

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Sep 29, 2025, 12:33:18 AM (11 days ago) Sep 29
to bankpe...@googlegroups.com
Sir.    Premium amount

IBA and UFBU say thatonly 20% of retirees have joined the scheme. Even if 50 percent have become members the insurance amount may be reduced comparatively. Insurance also Needs a profit out of it. Though GMIS is a joint policy including working employees,  Bank is paying the premium for the m.  So any increase is not going to affect them. Only if more reyirees join the scheme.  There will he benefit for us. 


On Fri, Sep 26, 2025, 5:25 PM <bankpe...@googlegroups.com> wrote:
Ravinder Singh <puri...@gmail.com>: Sep 26 04:40AM +0530

Sir
Does the premium of 5.25 lac RS.40231 includes GST.
 
Ravinder
 
On Thu, 25 Sept, 2025, 3:29 pm S H Subramanian, <canma...@gmail.com>
wrote:
 
MOHAN P <moha...@gmail.com>: Sep 26 10:59AM +0530

Mr Ravinder
Quoted premium does not include GST
Regards
Mohan.P
 
Mani B <mani...@gmail.com>: Sep 26 11:40AM +0530

No pensioner or retiree requested UFBU/IBA for increase in insured amount
for officers from selection from 3 lahs and above with a band of 1 lakh
each. Negotiators unilaterally increased the ins.amt to 5.25 lakhs and it's
premium accordingly to 47k+.
 
Indirectly, it seems, insurers and negotiators are driving the pensioners
to get out of the GMI scheme, if they have any complaints on the
negotiations and/or its finalisation. It is a take it or leave it scheme
now.
 
That's IBA/UFBU insurance scheme. It is not group insurance but a gross
violation of the health insurance scheme prescribed by IRDA terms.
 
In the bell the center tongue has been forcibly removed and hence no one
could ring the bell, forever.
 
Now the GMI is common to all in-service staff and retirees/pensioners
equally. So, the common concern is expressed since it affects in-service
staff also and is a welfare measure paid out of staff welfare fund for them.
 
If my concern is correct in your opinion, if you feel, you will also feel
it without any doubt.
 
Bala
 
Mani B <mani...@gmail.com>: Sep 26 12:13PM +0530

Now, the declared premiums for the IBA GMI schemes are with GST.
 
If at all any changes in mind happen between "negotiators" and "UG FM" on
removal of 18% GST on GMI policies, before 20.10.25, then we can say that
they are without GST, since as on date and till official circular is
released, let us make up our mind that we are extorted with GST on our GMI.
 
Bala
 
Hans Raj Manuja <manuj...@gmail.com>: Sep 26 10:12AM +0530

Rs47473/- is the exact premium including GST.
 
Narayanan Venkateshwaran <seevi...@gmail.com>: Sep 26 09:39AM +0530

AIBRF may please clarify well in advance whether this group policy is
available for non members of their group
C V Narayanan
 
On Mon, 22 Sept, 2025, 4:21 pm Vvns Varaprasadrao, <
Mohan V.R <vrmoh...@gmail.com>: Sep 25 04:05PM +0530

Dear Sir,
Whether details of this policy has been circulated by Bank of Baroda and
last date for submission of application?
 
It is your *ATTITUDE* *not *your *APTITUDE* which determines your
*ALTITUDE* in life.
Mohan.V.R.
F-1, CSR HOMES,
Plot 95, Nehru Street,
Alwar Thiru Nagar,
CHENNAI 600087.
MOB No. 8148236931
anilke...@gmail.com <anilke...@gmail.com>: Sep 26 04:16AM

Yes, BOB has circulated the details yesterday evening.Renew before 20.10 on HR connect module.Premium will be debited on 27.10.25
 
Yahoo Mail: Search, Organize, Conquer

On Fri, Sep 26, 2025 at 9:25, Mohan V.R<vrmoh...@gmail.com> wrote: Dear Sir,Whether details of this policy has been circulated by Bank of Baroda and last date for submission of application?
 
It is your ATTITUDE not your APTITUDE  whichdetermines your ALTITUDEin life.
Mohan.V.R.F-1, CSR HOMES, Plot 95, Nehru Street,Alwar Thiru Nagar,CHENNAI 600087.
MOB No. 8148236931
 
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Sridhar Mandyam

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Sep 29, 2025, 6:51:54 AM (11 days ago) Sep 29
to bankpe...@googlegroups.com
The hard facts about our GMIS is

1 Banks will not subsidise the premium paid by retirees. If at all a small amount is paid as reimbursement.

2 Insurance company will not reduce the premium. Why should they? They are there to make profit. When our own banks do not help, how can we expect it from others.

3 GST is a much broader issue not just limited to bank retirees. We have no say.

4 Since most of members of GMIS are above 60, the claim ratio will be high. Normally any group insurance scheme requires all the members to compulsorily join the scheme, irrespective of the health condition. So the group is a good mix of healthy and not so healthy members. The claim request ratio will be normal. In GMIS your joining is optional. Retirees who are healthy and don't foresee any health issues in near future will not join. Naturally the claim ratio will be high. Next year some more healthy members will opt out of the scheme. The subsequent year premium will be higher. It is a vicious circle.

My suggestion is those who are below the age of 65 and have no health issues to
Opt for individual policy from any insurers. They are eligible for no claim bonus. May be, I am not sure, waiting period may be waived if they have not claimed under GMIS

To view this discussion visit https://groups.google.com/d/msgid/bankpensioner/CAK_8OKR%2Be-txYA30u9KfBNs9M-7BHhUvkEhA0M3je0TeDiu%3D7g%40mail.gmail.com.
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