APGLI Loan Aplication Form
The APGLI Department is one of the oldest departments in the State. The Scheme was originally started in 1907 by the Nizam of erstwhile State of Hyderabad for the welfare of his employees.
A Management Committee used to run the scheme initially in the name of Family Pension Fund. Later the scheme was renamed as Hyderabad State Life Insurance Fund in the year 1913.
After formation of Andhra Pradesh state in 1956, the scheme was changed as "Andhra Pradesh Government Life Insurance Fund". The first Managing Committee meeting after formation of Andhra Pradesh State consisting of 4 members, one Secretary and a President was held on 25-9-1957 and Sri B.Gopala Reddi, the then Honorable Finance Minister was President of the meeting.
APGLI Scheme is a Social Security Measure for the welfare of the Government employees and is mandatory for all Government employees and provincialised Local Body employees.
APGLI Department is under the Administrative Control of Finance Department.
sailent features of apgli:
1.The Government employees who are between 21 and 53 years of age are eligible for taking APGLI Policies.
2.The APGLI Department issues only Endowment Policies which mature one day before attaining(58) years of age.
3.APGLI policies do not lapse.
4.The Premium rates are low.
5.APGLI Premium is exempted from income tax under section 80C.
6.Attractive Bonus rates.
7.The present rate of Bonus is Rs 100/- for every Rs 1000/- Sum Assured per annum.
8.The Loans are sanctioned up to 90% of Surrender Value.
9.Only Simple Interest of 9% per annum is charged against loans sanctioned.
10.In case of maturity of the policy, the total Sum Assured and Bonus till Date of Maturity are paid to the policy holder.
11.If the Policy Holder ceases to be Government servant, and decides to surrender the policy by discontinuing the payment of Premium, the subscriber will be paid the Surrender Value and the eligible Bonus.
12.In case of Death of policy holder before maturity of the policy, the full Sum Assured along with Bonus till date of death are paid to the legal heirs.
The APGLI Department is one of the oldest departments in the State. The Scheme was originally started in 1907 by the Nizam of erstwhile State of Hyderabad for the welfare of his employees.
A Management Committee used to run the scheme initially in the name of Family Pension Fund. Later the scheme was renamed as Hyderabad State Life Insurance Fund in the year 1913.
After formation of Andhra Pradesh state in 1956, the scheme was changed as "Andhra Pradesh Government Life Insurance Fund". The first Managing Committee meeting after formation of Andhra Pradesh State consisting of 4 members, one Secretary and a President was held on 25-9-1957 and Sri B.Gopala Reddi, the then Honorable Finance Minister was President of the meeting.
APGLI Scheme is a Social Security Measure for the welfare of the Government employees and is mandatory for all Government employees and provincialised Local Body employees.
APGLI Department is under the Administrative Control of Finance Department.
sailent features of apgli:
1.The Government employees who are between 21 and 53 years of age are eligible for taking APGLI Policies.
2.The APGLI Department issues only Endowment Policies which mature one day before attaining(58) years of age.
3.APGLI policies do not lapse.
4.The Premium rates are low.
5.APGLI Premium is exempted from income tax under section 80C.
6.Attractive Bonus rates.
7.The present rate of Bonus is Rs 100/- for every Rs 1000/- Sum Assured per annum.
8.The Loans are sanctioned up to 90% of Surrender Value.
9.Only Simple Interest of 9% per annum is charged against loans sanctioned.
10.In case of maturity of the policy, the total Sum Assured and Bonus till Date of Maturity are paid to the policy holder.
11.If the Policy Holder ceases to be Government servant, and decides to surrender the policy by discontinuing the payment of Premium, the subscriber will be paid the Surrender Value and the eligible Bonus.
12.In case of Death of policy holder before maturity of the policy, the full Sum Assured along with Bonus till date of death are paid to the legal heirs.
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