New Delhi: The Supreme Court Bar Association (SCBA), in an August 13 circular, informed that the group insurance policy undertaken by the SCBA has been extended after extensive negotiations.
The SCBA wants to assist members in securing general medical health insurance and had commenced taking group insurance policy with members contributing the premium for individual insurance covers which suited them. These policies being annual policies were valid up to August 13.
This year the executive committee decided to continue the policy, and after extensive negotiations, the terms for continuance of the group Mediclaim Policy have now been settled. The terms of the present policy are substantially the same as the premium applicable earlier.
The benefits have, however, been negotiated and improved upon as follows:
· The premium covers family members who are over age of 70 years without the required medical check-up. The premium for such insurance is substantially less.
· The normal premium for an individual taking a policy for Rs 5,00,000 is far higher than the negotiated rates.
· Existing diseases are covered
· No medical check up for any beneficiary
· All terms of the previous policy will apply to the new policy.
· Insurance cover available after age 70 till 85 without medical check up – there is no such policy under normal conditions
· The policy covers all treatment in case of an infection by the Corona virus
The circular further states that after prolonged negotiations and the kind intervention of SG Tushar Mehta, the insurance company has finally agreed to a cumulative renewal premium of Rs 1,38,00,000. The current premium after negotiation is substantially less.
It has been informed that the premium has to be paid simultaneously by all those who seek to insure themselves under the policy negotiated by the bar association. The premium covers 2,400 persons and those who seek to ensure themselves have been requested to send their respective premiums by RTGS as detailed in the circular.
Read the circular here;Circular-1
– India Legal Bureau