The government of the Punjab Service & General Administration Department (PROVINCIAL WELFARE BOARD) issued notification regarding Group insurance rates in Punjab. This notification is about group insurance amount scale-wise.
Group Insurance Rates
We are sharing here the group insurance amount scale-wise. This is the agreement of the group insurance scheme w.e.f 01.07.2020 to 30.06.2023. I am directed to refer to the subject noted above and to intimate that The government of Punjab through the process of open bidding has awarded contracts to the State Life Insurance Corporation of Pakistan for Group Term Insurance for the employees of the Punjab Government for a period of three years w.e.f 01.07.2020 to 30.06.2023. This contract was awarded under the provisions of the Punjab Government Employees Welfare Fund Ordinance, 1969. The annual and monthly rates of premium deduction, with effect from 01.07.2020 in respect of different categories of employees of Punjab Government are as follows:
| BPS | Sum Assured | Monthly Premium |
| 1-4 | 150,000 | 67 |
| 5-10 | 175,000 | 79 |
| 11-15 | 300,000 | 135 |
| 16 | 450,000 | 202 |
| 17 | 600,000 | 269 |
| 18 | 875,000 | 392 |
| 19 | 1,050,000 | 471 |
| 20 and Above | 1,250,000 | 560 |
Benevolent Fund and Group Insurance
It is requested that necessary instructions may immediately be issued to all Drawing and Disbursing Officers of respective departments for compliance, ensuring deduction of Group Insurance Premium according to above-mentioned rates with effect from 01.07.2020 while sanctioning pay bills of the employees under their administrative control. As regards, Government Employees in BS-1 to BS-4, the Government of Punjab shall pay 1/4th of the total premium i.e. Rs.16.75 per month per employee, to the State Life Insurance Corporation of Pakistan and the balance premium of Rs.50.25 per month shall be deducted from monthly salaries at its source of the employee in BS-01 to 04.
More Latest Govt Notifications
Group Insurance Death Case
It is further directed that all Departmental Heads ensure that w.e.f. 01.07.2020 all claims pertaining to Group Term Insurance i.e. in-service death or death within five (05) years of retirement, shall now be referred to General Manager, State Life Corporation Lahore.
