7th Pay Commission recommendation for CGEGIS
Central Government Employees Group Insurance Scheme (CGEGIS): The Rates of contribution as also the insurance coverage under the CGEGIS have remained unchanged for long. They have now been enhanced suitably. The following rates of CGEGIS are recommended:
| Present | Proposed | |||
| Level of Employee | Monthly Deduction (Rs) |
Insurance Amount (Rs) |
Monthly Deduction (Rs) |
Insurance Amount (Rs) |
| 10 and above | 120 | 1,20,000 | 5000 | 50,00,000 |
| 6 to 9 | 60 | 60,000 | 2500 | 25,00,000 |
| 1 to 5 | 30 | 30,000 | 1500 | 15,00,000 |
I have following queries ..
1. it is compulsory ?
2. Its life Insurance or Personal Accident Insurance ?
3. What will happen if the the insured person alive at the time of retirement ?
4. Premium will remain constant or it will change ?
5. Sum insured will remain same or will it change ?
ur early and prompt reply is solicited.