Insurance

The Indian Navy

As compared to other profession in the civilian world, the Indian Navy has a great deal to offer to young men and women.

The Indian Navy

Life Insurance Schemes for Serving Personnel

The Naval Group Insurance Scheme had originated in the form of Officers and Sailors Welfare Assistance Scheme in Apr 1969.The emphasis of the scheme is to provide meaningful death benefits to the bereaved families at minimum cost to the members. In addition, payment of reasonable survival benefits to the members on retiring from service will help them in providing financial security.

The details of monthly contribution, Saving element and insurance cover for the scheme and Additional Schemes are as follows:-

Life Insurance Schemes for Serving Personnel
Schemes Contribution Saving Element Insurance Cover
  Officers Sailors Officers Sailors Officers Sailors
General Group Insurance 5000/- 2500/- 4365/- 2245/- 50 Lac 25 Lac
Addl GIS for Aviators/MCs RAdm& Above- 875/-
Cmde/Capt 895/-
Cdr & below- 1140/-
580/- 821/- 438/- 07 lac 3.5 lac
Addl GIS for Submariners 825/- 525/- 756/- 493/- 07 lac 3.5 lac