Group Insurance Scheme was introduced for Government employees w.e.f. 01.03.1974 vide Finance Department Resolution No. 2594/F; dt 25.01.1974.
Initially, it was an optional scheme but made compulsory for all Government employees vide Finance Department Resolution No. 19043/F; dt. 15.04.1976, with a view to provide some financial benefit to the family for the un-timely death of a Government employee while in service.
Deposit by Government Employee :
Quantum of one time refundable deposit during entry into service (to be realised from the employee in 10 (Ten) installments)
- ₹20,000 (Grade pay upto 4800)
- ₹30,000 (Grade pay 5400 & above)
In case death of employee before retirement :
In case untimely death of Government Employee, following benefits will be availed by his/her family members.1) Sum assured under GIS in case of death while in service :
- ₹4,00,000 (Grade pay upto 4800)
- ₹6,00,000 (Grade pay 5400 & above)
2) Amount of financial assistance for performance of obsequies:
- ₹10,000
3) Amount of one time refundable deposit made by the Employee
In case of retirement on attaining age of superannuation or Resignation
On retirement / resignation, only the deposited amount will be refunded to the employee.
CIRCULARS
1387 Dt.12.01.2023 : Comprehensive Guidelines for implementation of Goup Insurance Scheme in the State
28557 Dt.08.10.2021 : Quantum of one time deposit (Revised) in GIS
