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Circular No. 21/2017 Date : 02-10-2017

Dear Comrades,

As you are aware our Bank has issued a communication dated 29-09-2017
advising about the terms & conditions/ procedure for renewal of the Medial Insurance policy of
the retirees for the year 2017-18, The Bank has also mentioned therein that in regard to the
Super Top Policy offer of United India Insurance Company ,the Bank has no role and the retirees
should directly contact the Insurance Brokers in this behalf. This is very strange and unfortunate
since many other Banks have undertaken processing of options for top up cover of United India
insurance Company and recovery and remittance of the premium for the same alongside the
premium for renewal of the main policy. We have also received representations about the
difficulties in adhering to the date stipulated for debit of the insurance premium as 26-10-2017.

We have, therefore, taken up these issues with the management of our Bank and
addressed a letter No. 18/2017 of 01-10-2017 to the General Manager ( HR ) of our Bank. We
have also requested General Secretary, Federation of Bank of India Officers Associations to
kindly take up the matter with Head Office authorities for reconsideration of the above issues.
We reproduce below for your information our letter referred to above for your information:.

Re: Renewal of Medical Insurance Policy by retired employees.

. We invite reference to your IOM No.HO:HR:IR:I:0291 dated 29-09-2017

addressed to all offices/ functionaries of the Bank on the captioned subject providing the procedure and
time limits for renewal of the Medical Insurance Policy for the year 2017-18 by the retired employees of
the Bank.

We observe that the date prescribed for debit of the renewal of the premium is stipulated
as 26th October, 2017 and the retirees desirous of renewal / joining of medical insurance are required to
maintain adequate balance in their respective Bank accounts to facilitate payment of renewal premium
and that failure to do so will entail discontinuation of medical insurance cover for them. In this context, as
you are aware ,the month of October,2017 coincides with important festival of Diwali and as such many
of the retirees who wish to renew the policy may find this stipulation difficult to comply. We may state that
other Banks have stipulated different dates for debit of the insurance renewal premium to facilitate
convenience of the retirees .Canara has prescribed such date as 30-10-2017. We would, therefore,
request you to reconsider and revise the date of debit of premium to the date of crediting monthly
pension for the month of October,2017 or alternatively advance the date of payment of Pension
for the month of October,2017 to 25th October,2017.
As regards exercise of option for super top up policy cover, Head Office IOM under
reference further states that the Bank has no role in this regard and that the retirees should contact
M/s Dastur Insurance Brokers Pvt. Ltd for the purpose. In this regard, we would request you to reconsider
this aspect for the following reasons :

a) Super top Policy is only an extension to the base policy offered by the
lead Insurance Company viz. United India Insurance Company
designed under the Xth bi-partite settlement dated 25-05-2015 and
implemented by the member Banks;
b) In view of the cover already extended under main policy by the United
India Insurance Company, it is a matter of administrative convenience
and ease in settlement of the claims that offer of super top up cover of
the same Insurance Company is found convenient by the retirees;
c) Most of the Banks have agreed and accepted to recover the premium
for super top up alongside the renewal of the base policy. We have
already sent to you through our mail dated 26-09-2017 a circular issued
by Allahabad Bank . Several other Banks viz. Dena Bank, Bank of
Baroda, Punjab National Bank, Central Bank of India, Canara Bank
have also undertaken acceptance of the option for Super top up policy
and recovery and remittance of the stipulated premium in this regards
alongside the renewal of the main policy. For your ready reference and
perusal, we attach one more circular issued by Head Office of Canara
Bank on 27-09-2017;
d) The above referred Banks have undertaken to recover the premium of
Super top up policy knowing full well that some of the retirees may avail
the top up policy offered by some other Insurance companies such as
New India Insurance Company etc.;
e) Leaving the retirees already covered under the main policy to
individually deal with the united India Insurance company for top up
cover does not augur well with the spirit of the introduction of the need
based medical insurance cover which basically is a welfare measure for
the senior citizens.
f) Considering the large number of retirees in their their advanced age,
with very wide geographical spread and non-acquaintance with
communication technology, Bank,s help for availing additional
insurance cover is quite a reasonable expectation from those who
served the Bank and contributed to its growth in yesteryears.

In view of the foregoing, We earnestly request you to reconsider the above aspects and
provide relief and succor to the retirees for availing the facility of adequate insurance cover.

Thanking you,

We may inform you that IBA has convened a meeting with the representatives of
UFBU, United India Insurance Company , the Insurance Broker M/s K.M. Dastur and TPAs on
06-10-2017 to review the Group Medical Insurance Company .

We shall apprise you of the developments as and when they take place.

With greetings,

Yours Sincerely

General Secretary