The scheme was set up by the late Nizam of the State of Hyderabad in 1907 for the well being of his employees. This was initially run by a Management Committee under the name Family Pension Fund. In the year 1913, it was renamed as Hyderabad State Life Insurance Fund. The name was finalized as Andhra Pradesh Life Insurance Fund after the formation of the State of Andhra Pradesh. Currently APGLI is managed by the Andhra Pradesh Government Life Insurance Department.
APGLI
Andhra Pradesh Government Life Insurance (APGLI) is considered to be one of the oldest departments in the State that focuses on the Social Security Measure for the welfare of the Government employees. Government Employees in Andhra Pradesh can subscribe to APGLI bond, which has various benefits as under:
- APGLI Policy Bonds do not lapse.
- The premium rates are low.
- APGLI premium is exempted from income tax under Section 80C.
- There are very attractive bonus rates.
- Loan can be availed upto 90% of surrender value of APGLI bond policy.
- State Government employees can contribute maximum premium upto 20% of the basic pay, irrespective of slab rates.
- Insurable age has been increased to 53.
- The total Sum Assured and Bonus till Date of maturity are paid to the policyholder when there is a maturity of the policy.
- The subscriber will be paid Surrender value and the eligible Bonus when the policyholder steps down as a Government employee and surrenders the policy by discounting the payment of Premium.
- In case of Death of the policyholder before the maturity of the policy, the legal heirs will be paid the full Sum Assured along with Bonus till the date of his demise.
- Municipal Employees including Municipal Teachers can enroll for APGLI Bond.
Functions
- Issue of Policies.
- Posting of Schedule Premiums.
- Sanction of Loans.
- Settlement of Claims.
Issue of APGLI Policy Bond
The Government employee after deduction of the first premium needs to complete and submit a proposal which has to be signed by the DDO/ Head of Office. Further, the policyholder has to submit proposal even for issue of second or subsequent policies.
APGLI Bond Premium
| Pay Slabs (In Rupees) | Compulsory Premium Rate (In Rupees) |
| 6700-8440 | 250 |
| 8441-10900 | 350 |
| 10901-14860 | 450 |
| 14861-18030 | 600 |
| 18031-25600 | 750 |
| 25601 and above | 1000 |
APGLI Bond Payment
To make payment, use the Head of the Account of APGLI Department: 8011-105-01.
Major Head 8011 – Insurance and Pension Funds.
MH 105 – State Government Insurance Fund.
SH (01) – Andhra Pradesh State Government Life Insurance Fund.
The premium is recovered at source in the salary bills of the employees and the details are sent through schedules. The employees whose salaries are not paid through Treasury/PAO and who have to pay the premium through Challan have to credit the premium to the above head of the account.
Its important to know that if premium payment is made without submission of proposal form, there would be a risk of not getting any coverage or monetary benefit, as such payments will be treated as unauthorized amounts which will be refunded on application without any interest or bonus. Hence, before making any payments towards an APGLI Bond policy, contact the concerned District Insurance Office.
- Those employees who are above 53years are not allowed to take APGLI policy.
- Proposals submitted by employees who are above 53years will not be taken into consideration in issuing policies.
FAQs
Who is eligible for the APGLI scheme?
All regular employees of the Andhra Pradesh state government, including those in teaching, non-teaching, and police departments, are eligible to enroll in the APGLI scheme. Membership is mandatory for employees under 45 years of age.
How do I apply for an APGLI Bond?
Employees can apply through the official APGLI website or their respective department by submitting an application along with required documents like age proof, identity proof, and employment details.