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Renewal premium for the IBA Group Mediclaim Insurance for Retirees for 2017-18(Existing policy is expiring on 31/10/2017)

As you are aware that the current IBA Group Mediclaim policy of Retirees is expiring on 31/10/2017.We have received the renewal premium details for Retirees policy of the Indian Banks’ Association from M/s United India Insurance Co Ltd and details are given below:

Option I- Normal renewal of on as is basis (Without Domiciliary Cover)

Category Sum Insured Annual Premium Domiciliary coverage GST @18% Total Premium


Rs. 4 lakhs

Rs. 13935.00


Rs. 2508.00

Rs. 16443.00

Clerks/Sub staff

Rs. 3 lakhs

Rs. 10452.00


Rs. 1881.00

Rs. 12333.00

Option II- With Domiciliary Expenses Benefits (59 diseases are covered as per Annexure)

Category Sum Insured inclusive of Domiciliary coverage Domiciliary coverage Annual Premium GST @18% Total Premium


Rs. 4 lakhs

Rs. 40000.00

Rs. 31354.00

Rs. 5644.00

Rs. 36998.00

Clerks/Sub staff

Rs. 3 lakhs

Rs. 30000.00

Rs. 23517.00

Rs. 4233.00

Rs. 27750.00

Further, this year United India Insurance Co. Ltd., has confirmed to issue a Super Top Up Policy for the Retirees as per the terms and conditions of the IBA policy for Retirees without the Domiciliary cover. The details are given separately. If you are interested in opting for Super Top Up Policy, you have to pay the additional premium as mentioned against the sum insured over and above the premium mentioned in the above table.

For our Bank the TPA viz M/s Vidal Health Care TPA Pvt Ltdshall provide Cashless facilities through their empanelled hospitals across India and Retired Employees/dependant can avail the facility. For any query on the Reimbursement/cashless facility, Retired employees /officers can contact the TPA on their customer care number 0484-2356526 or at the dedicated help desk at our corporate office at 0487-6617253. The TPA will also process reimbursement claims of Hospitalization as per policy terms and conditions. The terms and conditions and continuation of the scheme shall also be subject to Industry level decision and the clarification /interpretation of various terms and conditions of the scheme shall be strictly as communicated by IBA and Retired employees/officers shall be bound by the same.

Please note that those who have not opted this policy last year can also be enrolled if they are interested in joining the policy, without Domiciliary cover. Existing retirees who are cover under with domiciliary policy may be allowed to switch over to without domiciliary cover. Option to switch over to with domiciliary is not available.

Please submit the consent for renewal of the policy by choosing the relevant option viz without Domiciliary /with domiciliary cover /disagreement in the tear off portion before 10/10/2017. Please note that if we do not receive your option letter before cutoff date, we will treat your option as to continue the policy without domiciliary cover. Please also keep sufficient balance in your account where pension amount is credited so as to debit the premium and include in the Retirees policy. We shall debit the account on 25/10/2017..

The detailed scheme guidelines, Coverage’s and exclusions, Claim forms, List of networked Hospitals, FAQ, are given below :

Submission of Life Certificate for Pensioners

Retired Employees, who are drawing monthly pension from the Bank, have to mandatorily submit Life Certificate during the month of November every year. Duly filled up and signed application form shall be submitted to Human Resources Department through branch from where the pension is drawn.

Human Resources Department
Dhanlaxmi Bank Ltd.
Dhanalakshmi Buildings
Naickanal, Thrissur - 680 001
Phone : 91-487-6617000
Fax : 91-487-6617222

Click here to download Life Certificate form







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