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Renewal premium for the IBA Group Mediclaim Insurance for Retirees for 2018-19(Existing policy is expiring on 31/10/2018)

As you are aware that the current IBA Group Mediclaim policy of Retirees is expiring on 31/10/2018.We have received the renewal premium for Retirees policy and Super Top Up Policy* premium for the Retirees of the Indian Banks’ Association from M/s United India Insurance Co Ltd and details are given below:

This year room rent has been agreed to be revised from existing Rs.5000/- to Rs.4000/- per day. Also all bills receipts for purchase of medicine upon which a claim is made shall bear the valid GST No of the issuer of such bills, receipts etc.

Option I- Normal renewal (Without Domiciliary Cover)

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


Rs. 4 lakhs

Rs. 24400.00


Rs. 4392.00

Rs. 28792.00

Award Staff

Rs. 3 lakhs

Rs. 18301.00


Rs. 3294.00

Rs. 21595.00

Option II- With Domiciliary

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


Rs. 4 lakhs

Rs. 40000.00

Rs. 69808.00

Rs. 12565.00

Rs. 82373.00

Clerks/Sub staff

Rs. 3 lakhs

Rs. 30000.00

Rs. 52359.00

Rs. 9425.00

Rs. 61784.00

Further, this year also United India Insurance Co. Ltd., has confirmed to issue 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 above.

TPA shall provide Cashless facilities through their empanelled hospitals across India and Retired Employees/dependant can avail the facility. 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 only existing retirees who are covered in IBA GMC Retiree Policies and employees who have retired during the policy period 2017-18 will be allowed to join the IBA Retiree GMC Policy 2018-19.

Please submit the consent for renewal of the policy by choosing the relevant option viz without Domiciliary /with domiciliary cover /disagreement in the option letter attached before 26/10/2018. 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 so as to debit the premium and include in the Retirees policy. We shall debit the account on 29/10/2018.

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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