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Tuesday, July 25, 2017

Super Top Medical Insurance

Letter Written by Retirees Association on Super Top Medical Insurance 

                                                                                                                          Ref:2017/80                                                           Date:25.07.2017


   Shri Sanjiv K. Bandlish
   Convenor , United Forum of Bank Unions

   Dear Comrade,

                    Re: Proposal of K.M.Dastur & Co. for Super Top Policy
                          For Retirees.

We wish to invite your kind attention on the communication of M/s K. M. Dastur Reinsurance Brokers Pvt. Ltd. addressed to unions giving proposal for Super Top Policy of United India Insurance Company for the retirees.

2. As per our understanding, this proposal will become operative and can be implemented only if the same is accepted by management committee of IBA with due process of biding and advises member banks to implement the same.

3. Since the broking firm approached to unions, we shall be grateful to you if you will kindly advise us UFBU stand on it and whether it would be taking up this proposal  with IBA for further action. Further, we find that 4 unions representing officer staff have demanded in the charter od demands submitted to IBA recently for the next wage settlement that “comprehensive medical scheme for pensioners/retirees should be introduced in lieu of medical insurance scheme” In view of the above stand of 4 officer staff unions, we shall be happy to  know whether they would support above proposal of K.M. dastur.

4. As you may be aware that AIBRF representing more than 1.5 lakhs retirees have been taking up with IBA since introduction of group health insurance for retirees to introduce Top up insurance cover for them to meet growing expenses on medical treatment. During last 2 years, IBA has  remained unresponsive on our representations on the subject. In view of this with long drawn  efforts, we have recently    finalised Super Top Policy at very reasonable terms and conditions with the largest insurance company on the country namely, New India Assurance Company Limited and is now  in process of its  implementation. But we find that immediately after finalisation of the scheme with New India Insurance Company, K.M. Dastur has submitted proposal of Super Top Policy to unions.

5. In view of this AIBRF is eager  to know Unions stand on the proposal and early decision of IBA on it.

6. We would also like to draw your kind attention on the fact that basic policy of United India Insurance Company Limited for bank
retirees would be due for renewal after about 13 weeks period. However, K.M. Dastur Company who is broker for base policy too  has not quoted premium for renewal of base policy while quoting the price for super top up policy. In case the broking firm proposal for super top  is accepted by IBA , both the policies will be  with the same company. Under these circumstances to protect interest of the retirees effectively, we are of the view that it will be appropriate to know total premium payable for next renewal of basic policy as well as premium payable for super top up so no scope is left with the insurance company/ broking firm for arm twisting at the later stage. Kindly consider this also and take up the issue at appropriate level.

7. We shall be obliged to receive  early response on the subject so retirees can take clear cut decision on top up proposal within available time and do not lose the opportunity for one more year.

                  With Warm Regards,

Subject: Super Top Medical Insurance 

(Regd. No. MS/Mum/189/2017/GBBSD dated18/01/2017)
Affiliated to: All India Union bank Retirees’ Federation
                                        All India Bank Retirees’ Federation
D. A.  Masdekar,              R. K. Powar                               U. P. Kavdi
 Chairman                          President                          General Secretary
 9970899393                  7710030963                                  9422016674

No. 011/2017-18/GS                                                         25th July, 2017

 Dear Members,

        I have already appraised you about the inauguration of super top  medical insurance policy for retirees members under the roof of AIBRF on What's App media this day morning. 
        The detailed  information is enclosed in  the literature provided  at the said occasion is  forwarded herewith for your information and clarification. The attachments  are as under :-
1)     Description 
2)     Illustrations
3)     Claim specimen
4)     Proposal Form

        Hope the above literature will meet with your requirement stroke clarification. 
With Regards,

U.P. Kavadi
General Secretary 

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