PART – XIII [LITIGATION AND LEGAL ADVISORS]

Dated Lahore, the 15th January, 2005

Subject: ENHANCEMENT OF SUM ASSURED IN RESPECT OF GROUP TERM INSURANCE SCHEME AND RATES OF DEDUCTION. #

In continuation of this Department’s letter of even number dated 10-10-2003, on the above noted subject.

2. As you are aware that Government of the Punjab had enhanced the sum assured for the Government Servants w.e.f. 01-07-2002 and this facility was also extended to the employees of erstwhile Local Councils w.e.f. 01-07-2002 vide above quoted reference.
3. The new coverage also required enhancement of amount of premium by the concerned employees. As regard employees BS-1 to 4, i.e., Rs. 10/- of the total premium per month will be paid by the Local Councils and additional amount of Rs. 30/- per month shall have to be deducted from employee’s monthly salaries. The annual and monthly rates of premium as per enhanced sum assured for different categories of employees’ w.e.f. 01-07-2002 will be as under:

B.P.S. SUM ASSURED ANNUAL PREMIUM MONTHLY PREMIUM
1-4 Rs.1,20,000.00 Rs.480.00 Rs.40.00
5-10 Rs.1,40,000.00 Rs.560.00 Rs.46.67
11-15 Rs.2,40,000.00 Rs.960.00 Rs.80.00
16 Rs.3,60,000.00 Rs.1,440.00 Rs.120.00
17 Rs.4,80,000.00 Rs.1,920.00 Rs.160.00
18 Rs.7,00,000.00 Rs.2,800.00 Rs.233.34
19 Rs.8,40,000.00 Rs.3,360.00 Rs.280.00
20 & above Rs.10,00,000.00 Rs.4,000.00 Rs.333.34

4. Further directed to enter into an agreement with the State Life Insurance Corporation of Pakistan as per revised slab.
5. You are, therefore, requested to take further necessary action accordingly and pay the premium according to revised rates w.e.f. 01-07-2002.