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APGLI Application Form Andhra Pradesh in Telugu
Andhra Pradesh Government Life Insurance (APGLI) is considered to be one of the oldest departments in the State that focuses on the Social Security Measure for the welfare of the Government employees. Government Employees in Andhra Pradesh can subscribe to APGLI bond, which has various benefits as under:
- APGLI Policy Bonds do not lapse.
- The premium rates are low.
- APGLI premium is exempted from income tax under Section 80C.
- There are very attractive bonus rates.
- The loan can be availed up to 90% of surrender value of the APGLI bond policy.
- State Government employees can contribute maximum premium up to 20% of the basic pay, irrespective of slab rates.
- Insurable age has been increased to 53.
- The total Sum Assured and Bonus till Date of maturity are paid to the policyholder when there is a maturity of the policy.
- The subscriber will be paid Surrender Value and the eligible Bonus when the policyholder steps down as a Government employee and surrenders the policy by discounting the payment of Premium.
- In the case of Death of the policyholder before the maturity of the policy, the legal heirs will be paid the full Sum Assured along with Bonus till the date of his demise.
- Municipal Employees including Municipal Teachers can enroll for APGLI Bond
Functions of Andhra Pradesh Government Life Insurance Directorate
All aspects of APGLI Bond is managed by the Andhra Pradesh Government Life Insurance Directorate. The Directorate in turn controls the District Insurance Offices for management of all aspects of APGLI Bond. Some of the major functions of the APGLI Directorate and District Offices are:
- Issue of Policies.
- Posting of Schedule Premiums.
- Sanction of Loans.
- Settlement of Claims.
APGLI Bond Premium
The following are the compulsory Premium Slab Rates:
|Pay Slabs (In Rupees)||Compulsory Premium Rate (In Rupees)|
|25601 and above||1000|