The Finance Department of Andhra Pradesh has released the APGLI Slab Rates 2024 or APGLI Monthly Premiums 2024.
These rates, established under the Andhra Pradesh Government Life Insurance (APGLI) Scheme, apply to state government employees.
Employees can check and download the official Government Order (GO) detailing these rates from the official website, apgli.ap.gov.in.
Understanding the APGLI Scheme and Slab Rates
The APGLI Scheme is a life insurance program specifically designed for government employees in Andhra Pradesh. The scheme offers life coverage based on slab rates, which are calculated according to an employee’s salary. These slab rates determine the premium amount employees must pay monthly, varying by salary bracket and age.
Salary-Based Premiums: The slab rates are categorized by salary levels, with higher salaries resulting in higher premium payments. For example, an employee with a salary between ₹13,000 and ₹16,400 would pay a premium of 3.5% of their salary, whereas an employee earning between ₹50,000 and ₹60,000 would pay 4% of their salary.
Periodic Revisions: These rates are periodically reviewed and adjusted in accordance with changes in pay scales, such as those introduced by the Pay Revision Commission (PRC).
Age and Coverage: The slab rates also consider the employee’s age and desired coverage amount. The premium ranges from 1.5% to 2.5% of the employee’s salary.
Important Government Orders (GOs) Related to APGLI
The Government Order (GO) Ms.No.36, issued on March 5, 2016, introduced key changes to the APGLI Scheme:
- Enhanced Superannuation Age: The age of superannuation for state government employees was increased from 58 to 60 years.
- Maximum Insurable Age: The maximum insurable age under the scheme was raised from 53 to 55 years.
- Revised Premium Rates: The GO also revised the compulsory premium rates to align with the 2015 Revised Pay Scales.
APGLI Slab Rates 2024 under RPS 2015
| Revised APGLI Slab Rates (Pay Slabs) | Monthly Premium (Rs.) |
|---|---|
| Pay from Rs.13000 to Rs.16400 | 500/- |
| Pay from Rs.16401 to Rs.21230 | 650/- |
| Pay from Rs.21231 to Rs.28940 | 850/- |
| Pay from Rs.28941 to Rs.35120 | 1150/- |
| Pay from Rs.35121 to Rs.49870 | 1400/- |
| Pay from Rs.49871 and above | 2000/- |
Key Instructions for Employees
Premium Adjustment: All employees must increase their premiums according to the revised rates and submit the necessary ‘Proposal Form’ after the first premium deduction. Without submitting this form, enhanced insurance coverage will not be granted.
Policy Terms: The minimum policy term is five years, and employees must ensure they apply for premium adjustments before reaching 55 years of age.
Implementation: The new rates came into effect on April 1, 2016. The Drawing and Disbursing Officers (DDOs) are responsible for ensuring the revised premiums are deducted from eligible employees’ salaries.
AP PRC 2010 APGLI Slab Rates
| Existing Slab Rates (Pay Slabs) | Monthly Premium (Rs.) |
|---|---|
| Pay from Rs.6700 to Rs.8440 | 250/- |
| Pay from Rs.8441 to Rs.10900 | 350/- |
| Pay from Rs.10901 to Rs.14860 | 450/- |
| Pay from Rs.14861 to Rs.18030 | 600/- |
| Pay from Rs.18031 to Rs.25600 | 750/- |
| Pay from Rs.25601and above | 1000/- |
Compliance and Implementation
To guarantee smooth implementation:
- Departmental Responsibilities: DDOs and Heads of Departments must ensure all eligible employees are covered under the APGLI Scheme.
- Verification: The District Treasuries and Pay & Accounts Officers must verify premium collections according to the revised slab rates before processing salary bills.
The APGLI Slab Rates 2024 are crucial for government employees in Andhra Pradesh, determining their life insurance premiums under the APGLI Scheme.
By understanding these rates and following the outlined procedures, employees can ensure they are adequately insured and compliant with government regulations.