The Army Group Insurance got registered with the Registrar of Societies under the Registration of Societies Act for providing speedy Insurance benefit to the families of Army personnel after their death. Army personnel receive the lump sum maturity benefit after the retirement and AGIF (Army Group Insurance Fund) also offer other benefits as applied by the Board of Governors from time to time.
AGIF had started its operations with two schemes and gradually introduced many more schemes to fulfil the requirements of Army personnel and their families.
Some of the AGIF schemes are as mentioned below:
Ø Life Insurance cover
Ø Disability Benefit
Ø Maturity Benefit
Ø Post Retirement extended Insurance Scheme
Ø Conveyance Advance Linked Group Life Insurance Scheme
Ø Personal Computer Advance Scheme
Ø House Building Advance Scheme
Ø Insurance Cover for APS personnel
Ø Insurance cover for DSC personnel
Ø House Building Advance Linked Group Life Insurance Scheme
Ø Conveyance Advance
Ø Social Security Deposit Scheme for widows and minors
Ø Insurance Cover for TA personnel
Extended Insurance (EI) Scheme:
The main features of El Scheme include the following:-
(i) There is no requirement of any Medical Examination and it covers even low medical category for the same amount at the same premium.
(ii) It offers coverage against High risk category including Cancer, Renal, Heart disorder, and even AIDS patients.
(iii) The payment of EI benefits is very simple and easy.
(iv) It includes the nomination procedure and period of coverage is mentioned on EI certificate.
(v) The EI scheme is available for all Low Medical Category persons if they have sufficient funds available in their maturity amount on retirement or release.
Army Group Insurance Death Benefit
In the event of death of army personnel while in service an amount of Rs 3.75 lakhs is paid to NOK(s) towards the Army Group Insurance Benefits. The procedure for claiming the insurance benefits by Nominee is simple.
Procedure for claiming the insurance benefits: The nominee or widow of Army Personnel is required to submit the following list of documents to AGI Directorate, New Delhi.
(1) Affidavit (2) Bank Details (3) Family details (4) Indemnity Bond It is applicable in cases where the beneficiary is other than the widow)
(5) Two copies of passport size photo duly attested for issue of Medical Benefit Scheme Card (applicable only for widows)
AGI Directorate, New Delhi will settle the claim and forward the cheque for crediting AGI death benefit into the bank account of nominee.
Army Group Insurance Maturity Benefits
Army Group Insurance Maturity Benefits is provided to the nominee or widows in the event of death of JCO / OR while in service.
Procedure for claiming the Maturity benefits
The Record Office of the deceased individual needs to forward application duly completed and signed by the nominee / widow; to SAO / 5 / S / 78. The duplicate copy of the application needs to be addressed to the PAO (OR) and advance copy to AGIF.
Address of Army Group Insurance Fund
AGI Bhawan. Rao Tula Ram Marg, PO Box No.14,
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