TSGLI Policy Bond: Telangana Government Life Insurance (TSGLI) is the Social Security Measure for the welfare of the TS state Government employees. Therefore it guarantees the protection for the families of the deceased govt employees and to extend their support at the time of retirement. Thus TS state government employees can subscribe to the TSGLI bond, to gain various benefits under this scheme.
For more details regarding TSGLI, employees can visit. Here we will provide all important details like
- How to submit a proposal form for TSGLI Policy Bond
- Procedure to search policy number
- Procedure to download application form of policy/loan
- How to search the status of loan/application/claim
- How to get employees annual account slip
Therefore we will explain each and every topic related to the TSGLI bond in a clear manner.
As we know TSGLI Department is separated from APGLI after the bifurcation of Andhra Pradesh state. Therefore it has started its own operations from 2014. Thus after many enactments, the TS government has extended this scheme to Municipal Employees including Municipal Teachers except the employees of GHMC.
TSGLI is one of the oldest departments in the State. This Scheme was initially started in 1907 by the Nizam of the previous State of Hyderabad for the welfare and safety of his employees. Where the Management Committee used to run this scheme in the name of Family Pension Fund. Thus in 1913, the scheme was renamed as Hyderabad State Life Insurance Fund. But due to the Reorganization of Telangana state “Telangana State Government, Life Insurance” started its own functions from 2014. Now the TSGLI Department is under the Administrative Control of Finance Department.
- You Can Also Check APGLI Bond
Important Benefits of TSGLI:
- TS Government employees who are between 21 years and 53 years of age are eligible for taking TSGLI Policies
- TSGLI Policy Bonds do not lapse
iii. It offers very high bonus rates
- Monthly Premium rates are low
- TSGLI premium is exempted from income tax under section 80
- The loan can be given up to 90% of the surrender value of TSGLI policy bond
vii. The present rate of Bonus is Rs 100/- for every Rs 1000/- Sum will be Assured annually viii. In the case of Death of the policyholder before the maturity of the policy, the legal heirs will be paid the full Amount Assured along with Bonus
- Only 9% Simple Interest per annum is charged against TSGLI loans
- The total Assured amount and Bonus till Date of maturity are remunerated to the policyholder in case of maturity of the policy
- But Employees who have completed 53 years of age are not eligible to take TSGLI policies either first or subsequent.
xii. So Bond Proposals submitted after 53 years will not be considered for the issue of policies even if premiums are paid before the age limit.
- You Can Also Check TSRTC Bus Pass
TSGLI Premium Bond Rates:
before submitting Proposal form employees have to check below given TSGLI essential Premium Slab Rates.
Slab Pay Rates in Rupees Compulsory Premium
Rate (In Rupees)
48601 and above 2000
How to submit a TSGLI Proposal form:
TS state government employees who are willing to apply for this policy bond have to follow the given steps.
Steps 1: Visit official website http://tsgli.telangana.gov.in
Step 2: Select the download tab from the menu bar, the next page will display a list of forms
Step 3: from the dropdown menu select “Proposal for Insurance on own life (fresh/enhancement)”
Step 4: then automatically application will be downloaded to your computer, take the printout of application
Step 5: Fill the application form with necessary details
The first page contains personal details like employee name, father name, designation, DOB, office address, basic pay, salary details, and nomination details.
The second page contains health details, subscription details, and your head office details
The third page is the declaration form, here you have to enter treasury token number and date of the token issued
Step 6: then submit the filled TSGLI application at MEO/HM office
Step 7: your proposal will be verified by the concerned Drawing and Disbursing Officer.
Issue of TSGLI Policy Bond:
- After the verification of the GLI Proposal form
- Within 15 days, the first Premium as per slab rates will be deducted from salary
iii. Again the employee has to fill up and submit a proposal form duly signed and attested by his/her DDO/Head of office
- Then your policy proposal form will be processed and DDO will forward it to the Directorate and concerned District Insurance Offices
- Then TSGLI will issue the policy bond within 15 days.
How to Track the TSGLI Application Status:
after the successful submission of a policy bond application, employees can track their status of the application by following the given steps.
- Visit the official website http://tsgli.telangana.gov.in/
- Then select Status from Menu Bar
- On the next page, you have to fill all necessary blocks
- Policy number
- Applicant name
- Applied for Section: the issue of policy/loan/claim
- Financial year
- Please enter the generated number on the screen and click on view tab
- The next page will display the status of your application
- Check the status of your application and know whether the application is processed or not.
TSGLI Annual Account Slip:
if any employee wants to check the annual account slip, then follow the given procedure
- Visit the TSGLI official website http://tsgli.telangana.gov.in/
- Choose the Annual Account Slip from the menu bar
- On the next page enter your
- Policy number
- Select financial year
iii. Enter the number displayed on the screen and click on view report
- Next page will display your annual account slip report.
- Click on download and take the printout of it for further usage.
TSGLI Policy Bond Download process:
Employees can easily download the TSGLI Policy Bond by following the given steps:
- first visit the official website http://tsgli.telangana.gov.in/
- Then select the Policy Bond from home page
- On the next you have to enter
- Enter policy number without mistakes
- employee has to select the correct suffix
- Enter the number generated in the image and click on Get Policy bond
- TSGLI Bond will appear on the screen, then click on the download option and take the print
- After taking printout, keep the policy bond with you and submit the Letter to your DDO for information.
Procedure for Clearance of TSGLI missing Credits:
For clearance of missing credits, the policy subscriber has to submit the places of posting with deduction particulars. Such as Month,
- Loan Instalment/ Amount of Premium,
- Token Number/Voucher Number,
- Total sum of money TSGLI schedule attested by the DDO
- In case of Challan payment subscribers have to mention the Challan amount/ Challan number and date attested by DDO along with full details of Policy bond numbers and names of the employees.
How to get TSGLI Duplicate Policy Bond:
policyholders can apply for the duplicate bonds when the original policy has been by mistake destroyed or can’t be found. Thus follow the given 3 steps to get a duplicate bond
Step 1: Payment to DDO: the employee has to request their DDO to deduct One rupee extra in addition to the regular premium in the salary schedules for one time only.
Step 2: Compliance Declaration Form: After deduction, the employee has to submit a declaration form on a paper stating that they have lost the policy or the policy is destroyed. Where this declaration has to be signed by the employee and attested by DDO / Head of the Office
Step 3: District Insurance Officer Submission: The employee has to submit the declaration form along with a copy of the monthly schedule to their respective District Insurance Office.
Hence TSGLI is an endowment policy that provides an insurance cover as well as a savings plan. Thus it fulfills the dual need for life cover and savings plan under a single policy. Therefore all TS state government employees can apply for TSGLI policy Bond and get all the benefits under this scheme.