Jai Hind, Shano Varuna !


Main Menu

Naval Service Personnel Service
Personnel

Civilian Naval Personnel Civilian
Personnel

Retirement
Retired

Health
Health

Guidance & NWWA
Guidance

Naval Training School & Education Education

Miscellaneous
Miscellaneous


Information Board
Home Home
At the Helm At the Helm
Naval Training Schools/Establishments Training Schools
Looking for shipmates Looking for Shipmates
Downloads Forms Download
Web Links Web Links
E-zines & Naval History E-zine & Naval History
Navy Wives Welfare Association NWWA
National Portal
FAQs FAQs



Who's Online
There are currently, 2 guest(s) and 0 member(s) that are online.








Naval Group Insurance Fund

The Administrators of Naval Group Insurance Fund have approved WIE Post Retirement Death Insurance Extension Scheme to Short Service Commissioned Officers on Expiry of Engagement against payment of one time premium.


INDIAN NAVAL BENEVOLENT ASSOCIATION

The following benefits are admissible from INBA to the Serving/Retired Naval Personnel and their families.

SERVING NAVAL PERSONNEL

Sl.No.

Description

Officers

Rs.

Sailors

Rs.

Remarks

1.

Loans

(a)

Normal house repairs

50,000/-

40,000/-

Interest 8.5%

(b)

Higher education of children

8,00,000/-

8,00,000/-

Interest 8.5%

(c)

Higher education of spouse

50,000/-

50,000/-

Interest 8.5%

(d)

Sister's marriage

50,000/-

40,000/-

Interest 8.5%

(e)

Daughter's marriage

50,000/-

40,000/-

Interest 8.5%

(f)

Self marriage

1,00,000/-

50,000/-

Interest 8.5%

(g)

House repairs (Natural Calamity)

20,000/-

20,000/-

Interest Free

(h) Higher education of dependent sister 50,000/- 50,000/- Interest 8.5%
(j) Higher education of self 50,000/- 50,000/- Interest 8.5%

2.

Grants

(a)

House repairs (NC)

20,000/-

20,000/-

House owned by Self/Spouse

(b)

Merit scholarship after(10+2)

10,000/- Day scholar

10,000/-

Up to 6 years

20,000/-Boarder

20,000/-

study after 10+2 subject to laid down criteria

(c)

Purchase of special equipment like hearing Aids for self, wife and children

3,000/-

3,000/-

Maximum upto3 times

(d)

Wheel chair

Amount as decided by the Administrators of INBA

(e)

Ex-Gratia grant to NOK on death whilst in service

20,000/-

10,000/-

Paid by respective Commands (CBF)

(f)

Ph.D

30,000/-

30,000/-

Degree obtained on his own accord

(g)

M. Phil.

10,000/-

10,000/-

-do-

(h)

Incentive for excellence In sports

3,000/-State -

3 ,000/-

As per norms applicable

10,000/National

10,000/-

20,000/- International

20,000/-

(j)

Reimbursement of coaching fee for JEE of IIT/MBBS/MBA and Architecture (for serving sailor's children only)

Up to

5,000/-

Per child maximum 2 children

(k)

Reimbursement of coaching fee for admission to IIT/MBBS

33% of Coaching Fee

EX NAVAL PERSONNEL

Sl. No.

Description

Officers

Sailors

Rs.

Rs.

01.

Monthly maintenance

On merit of each case

As decided by the

02.

Rehabilitation grant

--

7,500/-

Administrators of INBA one time grant

03.

Purchase of special equipment like hearing aids etc.

3,000/-

3,000/-

Maximum three years

04.

Wheel Chair

Amount as decided by the Administrators of INBA

05.

Economic Activity Venture

--

20,000/-

One time grant

06.

Scholarships for handicapped children

200/- P.M. Day scholar 400/- P.M. Boarder

200/- P. M Day scholar 400/- P.M. Boarder

After attaining the age of 3 years upto 25 years of age

07.

Lump sum grant on death of naval pensioner

20000/-

10,000/-

08.

Travel incidental expenses on transfer of handicapped naval personnel from one service hospital to other

500/-

09.

Reimbursement of fee for vocational courses for widows of naval personnel who died in harness. Up to 30,000/-

10.

Marriage of children of deceased naval personnel maximum two children

20,000/-

10,000/-

maximum for two daughters

11.

Merit scholarship for Graduation and Post Graduation after 10+2

6,000/- Day scholar 10,000/- Boarder

6,000/- Day scholar10,000/-Boarder

Up to 5 years study after 10+2 subject to laid down criteria

NAVAL GROUP INSURANCE FUND

GENERAL GROUP INSURANCE SCHEME

OFFICER SAILOR/NAVIK
CONTRIBUTION PER MONTH Rs.4000.00 Rs.2000.00
INSURANCE COVER Rs.40.00 LAC Rs.20 LAC
DISABILITY RISK COVER (100%) (ELIGIBLE 20% & ABOVE) Rs.20 LAC Rs.10 LAC
TERMINAL BONUS (MIN. 10 YRS SERVICE) (JOINED BEFORE 01 APR 91) Rs.5000.00 Rs.2000.00
RATE OF INTEREST 2010-11 9% p.a.
ADDL GIS SCHEME FOR AVIATOR
CONTRIBUTION PER MONTH # (COMMANDERS & BELOW) Rs.1140.00 Rs.580.00
CAPTAIN & COMMODORE Rs.895.00
FLAG OFFICERS Rs.875.00
INSURANCE COVER Rs.7.00 LAC Rs.3.50 LAC
DISABILITY COVER (100%) Rs.3.5 LAC Rs.1.75 LAC
TERMINAL BONUS (MIN. 10 YRS SERVICE) (JOINED BEFORE 01 APR 91) Rs.5000.00 Rs.2000.00
RATE OF INTEREST 2009-10 9% p.a
ADDL GIS SCHEME FOR SUBMARINER
OFFICER SAILOR/NAVIK
CONTRIBUTION PER MONTH Rs.825.00 Rs.525.00
INSURANCE COVER Rs.7.00 LAC Rs.3.50 LAC
DISABILITY COVER (100%) Rs.3.5 LAC Rs.1.75 LAC
TERMINAL BONUS (MIN. 10 YRS SERVICE) (JOINED BEFORE 01 APR 91) Rs.5000.00 Rs.2000.00
RATE OF INTEREST 2010-11 9% p.a
POST RETIREMENT DEATH INSURANCE EXTENSION SCHEME
ONE TIME CONTRIBUTION AT RETIREMENT
(NON REFUNDABLE)
OFFICER SAILOR/NAVIK
20775.00 15500.00
INSURANCE COVER 4.50 Lac 2.0 Lac
ELIGIBILITY : ON COMPLETION OF PENSIONABLE SERVICE
COVER PERIOD : 30 YRS AFTER RETIREMENT OR 75 YRS OF AGE WHICHEVER IS EARLIER.
CADET INSURANCE SCHEME 10+2 EXECUTIVE / TECHNICAL ENTRY SCHEME CADETS
ONE TIME NON-REFUNDABLE PREMIUM Rs.4370.00
INSURANCE COVER Rs.8.00 LAC
TERM 3 YRS
ADDITIONAL PER RELEGATED PERIOD PREMIUM Rs.780.00
ELIGIBILITY : APPLICABLE TO NON - STIPEND CANDIDATES

LOANS

NATURE OF LOAN AMOUNT MAXIMUM PERIOD RATE OF INTERST
HBL (Officers) 25.0 LAC 20 yrs 9%
HBL Addition/Alteration (officers) 06.0 LAC 20 yrs 9%
HBL (Sailors) 12.0 LAC 20 yrs 9%
HBL Addition/Alteration (Sailors) 03.0 LAC 20 yrs or Depend upon remaining Service 9%
Motor Car Officers 05.0 LAC 120 months 10%
Motor Car Sailors 02.50 LAC 84 months 10%
PC/TW (Officers/Sailors) 40,000.00 60 months 10%









Copyright © by Indian Navy Information Resource and Facilitation Centre All Right Reserved.

Published on: 2006-04-19 (24120 reads)

[ Go Back ]
Content ©

New Page 2

Terms and Conditions | Copyright Policy | Hyperlinking Policy | Privacy Policy | Contact us

Copyright Indian Navy since 2002. All Rights Reserved.
The site is Designed, Developed and Maintained by the Team of IR&FC
Last updated on 18 Sep 2014