Good Letters On Insurance

CBPRO  to IBA
"When EDs & MDs have been extended the
benefit of free unlimited medical aid even after their short term of contract, why can't extend the same gesture of GOOD WILL to the Lower Rungs but why  a raw deal to them in as much as they too contributed their best?
Letter dt 19/9/17 (received on 26/9/17)

Shri V G Kannan
Chief Executive,
Indian Banks’ Association
Mumbai.

Respected Sir,
Sub: Medical Insurance Scheme for Retirees
We refer to several of our letters in the past regarding the above Medical Scheme. We are at a loss to understand as to how IBA decided to thrust the Premium on the Bank Retirees when IBA MEDICAL CLAIM INSURANCE SCHEME was introduced in the year 2015. Passing on the premium to Bank Retirees was at variance with the directives contained in the Government communication no. DOFS F.No. 14/7/92-IR(Volume II) dated 24th February 2012. 
We hasten to reiterate that the said communication addressed to IBA was devoid of any such clause regarding premium to be borne by the Retirees. This kind of left- handed compliment to Retirees after taking the best from them during their service is not appreciable We are happy that the Executive Directors and Managing Directors have been extended the benefit of free unlimited medical aid even after their short term of contract. 

We whole heartedly appreciate the gesture of goodwill extended to them. At the same time staff retired at lower rungs should not be given a raw deal in as much as they too contributed their best to the growth of the respective Banks. The decision of IBA is thus discriminatory to say the least. In this background the recent communication from IBA to Banks advising steep increase in Medical Insurance Premium in respect of domiciliary treatment has further anguished the Retirees.

In the light of the above it has become essential that the IBA as a body of Bank Managements and in line with the Management Philosophy of Inclusive approach in respect of Serving Employees and Ex-employees advised the Banks to bear the Premium of the Medical Insurance Policy including the premium for reimbursement of expenses incurred on domiciliary treatment.

This will not only give the needed relief to the Bank Retirees but also will enhance the morale of the Retirees vis-a - vis the confidence in the fairness of IBA and Bank
Managements.
We once again request you to treat the issues of Retirees with more compassion and decide thesame in consultation with us.
We request you to kindly take a very positive decision in this regard and communicate the sameto the Member Banks.
With regards,
Yours sincerely 
(A.Ramesh Babu) (K.V.Acharya)
Joint Conveners CBPRO⁠⁠⁠⁠

Dear Sir

While I protest against the steep increase in the premium of retirees/bank pensioners Policy with domiciliary claims.We need the fllowing information from you
1-Actual claims received & how many sanctioned,how many are pending ,with period wise & Rejected by you with reasons commonly ?
2- Exect amount paid to KM Dastur & co  insurance broker during- 2016-17.Policy period.
3- Howmuch amount paid to TPA for processing claims (2016-2017.)
4-Amount adminstrative expenses incurred & debited to retirees/ pensioner vis a vis working employees.(2016-2017)
5-What is the justification of not obtaining prior approval of IRDA for revising premium.Though this is a prime condition of notice in Policy.
6- What is your stand on not giving three months clear notice to Policy holders to revise premium( This is a condition in policy document))
7-Most of  the parents of working employees ,Inlaws are of our or/same age group only.Their numbers are more,even then their claims said to less.Same premium demanded from banks , while even for Single pensioner's premium is same.ie  you  mean- EMPLOYEE,SPOUSE,CHILDERN,PARENTS, PARENTS INLAW  having the same age  group (minimum six members) Cost is less then a single retiree???
PLEASE EXPLAIN WITH DATA.
Your immediate replied requested. In case of delay I will be comlelled to ask It in RTI.An early reply is requested.
Thanking you
Yours Faithfully
RKVERMA
SAHARANPUR.
9758303450

27.09.2017 9 pm
While we received figures of 220% availing under domiciliary claims by pensioners from UIIC. We tried to find out the figures by calling a joint meeting of retirees of four banks at SAHARANPUR. The survey was from those only ,who joined domiciliary policy. The survey gave thrilling figures as under for your information. 
OUR SURVEY OF DOMICILIARY CLAIMS
*********************************
We made survey of 80 members who had taken domiciliary claim policy of UIIC. The survey revealed that-
1-39 members have not taken any claim from UIIC under domiciliary claim.Though paid for the same. 
2-24 mwmbers have submitted claims from Rs1800/-to 6000/-only.Some sanctioned , few pending & qurries which are flimsy in nature .
3-11 members submitted claims Rs 11000/- to 15000/-,some sanctioned, some under qurries which are unnecessary in nature. 
4-3 members submitted claims Rs 20000 & above.only on member availed fully 40000/-limit.
5-3 members were operated one cardiac TWO Cataract. Total Claim Rs 1.82lac.
This way 39+24+11+3+3=80 person availed this policy. 
Net result shows less than 50% claim ratios of premium paid . How UIIC claims to be 220%of premium collected. If we have a big survey only 10-15% variations may be possible .
There is a case to have complete audit of these figures; matter will prove a scam done by UIIC. Figures given by insurance Co are cooked. 
REGARDS 
RKVERMA 
SAHARANPUR 
9758303450

Solution of increase in medical insurance premium:
The entire scheme of medical insurance policy has been made a mess purposefully by IBA. Had a common policy for both in service and retirees  been taken with domiciliary benefits , the premium would have been reasonable due to spreading the risk for younger insured  persons (around 80 per cent) and aged (around 20). By taking two separate policies, premium for retirees is now unbearable specially for those who r not taking any domiciliary treatment. With a common policy, premium cost to the bankers for in service staff would have been slightly more but premium cost to the retirees will remain reasonable and constant.

We should appeal to UFBU to take up the issue with IBA and get amendment for single medical insurance policies with domiciliary benefits for retirees and serving staff in xith BPS.


Ref:2017/101                                                           Date: 25.09.2017
    

    The office Bearers/ Central Committee Members/ State Body Chiefs
    A.I.B.R.F


    Dear Comrades,

                    Re: REVISED OFFER OF NEW INDIA ASSURANCE LTD
                          ON SUPER TOP POLICY FOR AIBRF GROUP

In respect of Super Top Policy of New India Assurance Ltd. For bank retirees, we would like to give following clarifications on the points being raised.

(a) We do not expect any bank to issue circular for Super Top Policy of New India for bank retirees as it has been designed at the instance of AIBRF. Therefore members who are interested  are advised to take necessary steps to buy this policy before the stipulated last date of 10.10.2017 without waiting circular from the concerned banks.
(b) Basic policy with UIICL is to  be renewed with the concerned bank by paying necessary premium for 2017-2018 before the last date fixed. We find that UIICL has already advised renewal premium rates  to IBA. However IBA is yet to advise the rates to member banks and in turn member banks have so far not issued communication for payment of renewal premium by retirees. We are following up with IBA for early communication. We request our affiliates to follow up the matter with the concerned banks.
(c) As advised earlier, we also find that UIICL has given offer to IBA for introduction of Super Top Up policy for retirees w.e.f. 01.11.2017. But IBA is yet to issue communication to member banks. Most of the banks have also to take final call on UIICL offer for super top policy. It will become operational only after IBA/ banks accept it and issue communications for its implementation. It may also be mentioned that provisions of settlement dated 25.05.2015 only deals with basic policy of Rs. 3lakhs/ 4 lakhs. Therefore introduction of super top policy by IBA/ banks will be outside the preview of the settlement.  
    
                   With Regards,
                                                                           Yours Sincerely,
                                                            
                                                                    


                                                                       ( S.C.JAIN)
                                                                GENERAL SECRETARY

Jokes On Bankers

A retired MD of a Bank came to a branch in Chandigarh where nobody recognised him, as the branch is run by new generation people. 
He had to identify himself as ex-MD of the same Bank. 
Curiously one employee  of that branch asked him, "How is the life after retirement" ?

The ex-MD said, " I have realised that after Chess game is over, the King & Soldiers are kept in the same basket".

aa

Letter reportedly written by   Bank Of India Ex-GM Mr. D P Bhatejaji

Today i have posted the following on the facebook page of PM Mr. Narendra Modi and sent an email to FM Mr. Arun Jaitley. For information of all my friends.

Respected Prime Minister Shri Narendra Modi ji,
Respected Finance Minister Shri Arun Jaitely ji,

First of all I extend my sincere thanks in anticipation that you will spare a few minutes of your valuable time to read and take suitable action in the matter.

I am a senior citizen and on 01.08.2012, I put Rs 40 lakhs in a nationalized Bank for 5 years. I was being paid an amount of Rs. 35,352/- every month (of course subject to income tax) enabling me to lead a worry free life financially. Now on maturity I have reinvested the amount in the same Bank and I will be paid Rs. 26,489/-; a shortfall of Rs. 8863/- i.e. 25% over the previous return, per month. Can you please advise me from where I should make good the loss or sacrifice consumption of medicines or atta or dals or vegetables or fruit or milk or what?

Practically your government after taking over in 2014 has done nothing for senior citizens. No additional facilities extended but withdrawal of what existed in 2014. No commodity or provision item is available at the price of 2014. Yes you have been able to bring down the figures of inflation and indices but not the actual prices. Every off and on the prices of some essential daily use items go rocket high like dals, chana/besan, salt, onion and now the tomatoes. At that time we cannot even dare see those items. 

I know you have political and the theoretical replies for these issues like interest on deposits and advances in banks depend on demand and supply. The prices of daily use items vary with seasons being agricultural products. But the straight upward shoot of prices cannot be justified by these reasons. If the government wants to provide cheaper credits to the trades and industries, it should not be at the cost of depositors. Banks are sitting over volcanoes of NPAs and all good money is being diverted for bad money. 

But is it not the duty of the government to enable the senior citizens to lead a respectable life who have spent their golden years in serving various organizations and finally the nation? Government cannot see the other way. I am at a loss to understand from where this deficit of 25% be met. Is any of the minister/MP/MLA is ready to cut his salary and allowances by this percentage? If not, then why the public especially the senior citizens? 

Perhaps it is because that, like you, we do not have the power to fix our own salaries, allowances and perqs and getting everything for full year, for sessions of total of 3 months and that too attending sessions at their sweet will. When the matter of increasing your salaries comes, you pass the same just in 2 minutes with no discussion, with all heads together be it from ruling or opposition benches. For this increase, you totally over look the cost to the exchequer, deficit, economics and any other factor.

The government had started a scheme for deposits of senior citizens and the rate was 9.20% but In July, 14 it was reduced to 8.3%; the amount limited to Rs 15 lakhs. This is totally unjustified. The rate should be a minimum of 12% and the amount limit should be equal to what a person gets as terminal benefits. The government should ensure financial respectability to the senior citizens to walk with their heads straight.

I am sure you will understand the plight of the people whose good part of expenses comes from the interest of their savings of life time.
Sorry if I have offended you in any way.
Thanks and Regards

D. P. Bhateja 2246 sector 48C Chandigarh
Mobile : 9417819504