Human Resources Department, Central Office

#239, Union Bank Bhavan, Vidhan Bhavan Marg, Nariman Point, Mumbai–400021
STAFF CIRCULAR NO.7783 September 26, 2022

To: All Branches/Offices,

Group Medical Insurance Policy for Retired
Employees/ Family Pensioners (Policy year 2022-23):
- Continuation of ‘graded options’ in Base
Policy and Super Top-Up Policy

- Information on Premium Rates, as quoted

by ‘National Insurance Company Ltd’ for all
Such graded options.

Subject : Group Medical Insurance Policy for Retired Employees/ Family Pensioners
Policy Period 01.11.2022 to 31.10.2023

1. The Group Medical Insurance Policy vide which the retired employees of Union Bank of India
are guided, is bound to expire on 31st October, 2022. To ensure uninterrupted policy coverage,
premium for renewal of the policy is to be remitted in the month of October 2022 to the
Insurance Company.

2. We are in receipt of letter from Indian Banks’ Association (IBA), vide which we have been
informed that, the services of “National Insurance Company Ltd” have been acquired, to
offer ‘Group Health Insurance Policy’ for the policy year 2022-23 also.

3. The National Insurance Company Ltd, after obtaining due concurrence and approval from the
Indian Banks’ Association, has continued the provision of “graded options” in the ‘sum insured
amount’ for both Retirees’ Base Policy and Retirees’ Super Top-Up Policy. The details of the
premium rates as quoted by ‘National Insurance Co Ltd’ for renewal of Group Medical
Insurance Policy for retired employees, for the policy period from 01.11.2022 to 31.10.2023,
are as follows:

Premium Rates for Base Policy {including GST}

For Clerical/ Sub Staff (Award Staff) Cadre/ Workmen Retired Employee
Options Without Domiciliary With Domiciliary
Basic Sum Insured Family Floater Single Person Family Floater Single Person
(in Rs.) (in Rs.) (in Rs.) (in Rs.) (in Rs.)
300000 41334/- 27901/- 77920/- 52596/-
200000 27557/- 18600/- 51047/- 34457/-
100000 15308/- 10333/- 25520/- 17226/-

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 For Officer Cadre Retired Employee
Options Without Domiciliary With Domiciliary
Basic Sum Insured Family Floater Single Person Family Floater Single Person
(in Rs.) (in Rs.) (in Rs.) (in Rs.) (in Rs.)
400000 57808/- 39020/- 97776/- 65999/-
300000 41334/- 27901/- 77920/- 52596/-
200000 27557/- 18600/- 51047/- 34457/-
100000 15308/- 10333/- 25520/- 17226/-

 Family Floater – includes retired employee & spouse: 2 lives insured.

 Single Person – Retiree without Spouse (unmarried, separated, divorced or widowed) or
Surviving Spouse: 1 life insured.
 If retired employee & spouse both are alive, the retired employee would mandatorily be
required to opt for ‘family floater’ policy and ‘family floater’ premium has to be paid.
 Note:- If the employee is alive and his/her spouse is employed somewhere, and he/she is
already getting medical facilities from his/her organization. In this scenario ONLY, the
employee can opt for "Single Premium'' after submitting an undertaking from him/her in
this aspect.

 It has been informed by the National Insurance Company that, award staff/ clerical cadre
(workmen) retired employees cannot opt for Rs.4.00 lacs sum insured in Base policy (With
& Without Domiciliary). They can choose Base Policy (With & Without Domiciliary) sum
insured only in the range of Rs.1.00 lac to Rs.3.00 lacs. However, officer cadre retired
employees can opt for any sum insured from Rs.1.00 lac to Rs.4.00 lacs in Base Policy(With
and Without Domiciliary).

 With Domiciliary Cover: Limited up-to 10% of the Basic Sum Insured of base policy, both for
‘family floater’ & ‘single person’ policy. Example: For overall Sum Insured of Rs.1,00,000/-
max. Domiciliary Cover would be of Rs.10,000/-. Similarly, for overall Sum Insured of
Rs.2,00,000/-, max. Domiciliary Cover would be of Rs.20,000/- and like-wise the same
would continue for sum insured amounts of Rs. 3,00,000/- & Rs. 4,00,000/- respectively.

S. No. Basic Sum Insured 10% of SI available for

(in Rs.) Domiciliary coverage (in Rs.)
1. 100000.00 10000.00
2. 200000.00 20000.00
3. 300000.00 30000.00
4. 400000.00 40000.00

 Super Top Up: Super top up facility is available to the retired employees, as an additional
Insurance Coverage beyond the regular Sum Insured, on payment of extra premium.
Please note that Super Top Up is only available for Retirees who take the highest
amount of base policy (Rs. 3.00 lakhs for Award staff and Rs 4.00 lakhs for Officer cadre).
No other base amount irrespective of cadre is eligible for Super Top Up.

 Retired award staff (workmen) employees who opt for Base policy with sum insured of
Rs.3.00 lacs can opt for super top-Up policy with a sum insured ranging from Rs.1.00 lac to
Rs.4.00 lacs.

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 Retired Officer Cadre employees who opt for Base Policy with sum insured of Rs.4.00 lacs
can opt for Super Top-Up Policy with a Sum Insured ranging from Rs.1.00 lac to Rs.5.00
lacs.

The provision of ‘graded options’ in respect of the sum insured for Super Top-Up Policy,
has also been continued for the policy year 2022-23. The details of the premium rates as
quoted for Super Top-Up policy for the policy year 2022-23 are given in the following
tables:-
Premium Rates for Super Top-Up Policy {including GST}

For Clerical/ Sub staff (Award Staff) cadre/ Workmen Retired Employee
Top Up Sum Insured (in Rs.) Family Floater (in Rs.) Single Person (in Rs.)
400000 12475/- 8420/-
300000 9639/- 6507/-
200000 6291/- 4246/-
100000 3730/- 2518/-
For Officer cadre Retired Employee
Top Up Sum Insured (in Rs.) Family Floater (in Rs.) Single Person (in Rs.)
500000 15180/- 10246/-
400000 12475/- 8420/-
300000 9639/- 6507/-
200000 6291/- 4246/-
100000 3730/- 2518/-

The salient features of Super Top-Up Policy are as follows;

 OPD treatment/ domiciliary expenses are not covered under the Super Top-Up
policy. In other words, for all the retired employees who opt for ‘with domiciliary
policy + super top up’, the OPD expenses coverage will remain unchanged.

 The Super top up policy commences w.e.f. 01.11.2022 and the period will be identical
to the main policy period i.e. expiry date will be 31.10.2023.

 In case of claim, the basic/ base policy will be triggered first and only if, the Sum
Insured of the base policy is exhausted, the Super Top Up policy will be activated.

Special Note:

 The Indian Banks' Association (IBA), in their letter no. HR&IR/MBR/MEDINS/11501

dated September 13, 2022 have mentioned that, inclusion of following treatments
have been made in the policy year 2022-23
 Inclusion of approved targeted therapies for treatment of Cancer in day care
and on a standalone basis. The term Immunotherapy- Monoclonal
Antibody cancer treatment on standalone basis be added in the list of Day-
care and domiciliary treatments.
 Inclusion of Intra vitreal injections for eye disorders other than ARMD also.
The current Bipartite agreement specifies Treatment for Age related
Macular Degeneration (ARMD) only.

 Retired employees, who retired from Bank’s services either on Superannuation or

voluntary retirement under Union Bank Employees’ Pension Regulations or their
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 family pensioners, are eligible to be covered under the ensuing IBA GMC Retirees
policy for the year 2022-23. Employees retired under ‘Compulsory Retirement’/
employees who resigned from the services of the Bank/ terminated employees &/
or their family pensioners are not eligible to be covered under the ensuing IBA
GMC Retirees policy for the year 2022-23.

 As informed by National Insurance Company, all those retired employees/ family

pensioners who are not covered under the expiring Retirees Policy for 2021-22, can
be covered under IBA GMC Retirees’ policy for the year 2022-23, subject to payment
of revised requisite premium amount.

 Retired employee/ Family Pensioner can opt for ‘with/ without domiciliary’ option in
the ensuing IBA GMC Retirees Policy 2022-23 irrespective of option retired employee
had chosen in the expiring retiree policy for 2021-22.

 Also, retired employees/ family pensioners who are not covered/ had not opted for
Super Top-Up policy in the policy year 2021-22, can avail Super Top-Up policy in the
ensuing IBA GMC Retiree Policy for the policy year 2022-23, on payment of revised
requisite premium amount.

 Moreover, the employees, who retired between the period of 01.10.2021 to

30.09.2022, will have option to join the Medical Insurance Policy for the policy year
2022-23, ‘with or without domiciliary cover’ irrespective of their option given at the
time of retirement.

 There is no change in the Room rent charges and are the same as previous policies,
which are
 For Sum Insured Rs. 1 Lakhs and Rs. 2 Lakhs: Room rent per day shall be payable
up to 1.5% of Sum Insured and ICU Charges per day shall be payable up to 2% of
Sum Insured.
 For Sum Insured Rs. 3 Lakhs and Rs. 4 Lakhs: Room rent per day shall be payable
up to Rs. 5000/- and ICU Charges per day shall be payable up to Rs. 7500/-

4. Registration Process & Deduction of Premium:

 For both, retired employees (retirees)/ family pensioners already covered under the
expiring retiree policy of 2021-22 & for new joinees/ retired employees (retirees)/
family pensioners, not covered under expiring retiree policy of 2021-22, renewal/
registration would be carried through online portal, only.
 Manual renewal/ registration would not be carried out. Hard copy/ scanned copy of
consent, would not be accepted, either for renewal of the policy or for new
registration (new joinees).
 A specially designed portal, providing for various option(s) to continue in or withdraw
from the ensuing policy year 2022-23 will be made live on Union Bank of India’s
Corporate Website – www.unionbankofindia.co.in. The link shall be displayed at
“www.unionbankofindia.co.in ABOUT US  HR  Information for Retired Staff”.
The information on availability of the portal i.e. as and when the portal is made live,
and the detailed procedure on the registration process, will be shared with all
concerned in due course of time, through a separate circular.

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5. Policy Period: All the retired employees/ family pensioners, who renew/ join the
ensuing Group Medical Insurance Policy for the year 2022-23, through ‘online portal’,
will be provided coverage for the period from 01.11.2022 to 31.10.2023, on payment
of full premium amount.

6. By Default Option: In case no option is exercised by the retired employee/ family

pensioner, it will be presumed that retired employee/ family pensioner has opted to
EXIT from the ensuing policy for the year 2022-23.

7. It would be mandatory for a retired employee to provide consent, through the online
portal and pay the requisite full premium amount to successfully renew/ join the
ensuing policy for the year 2022-23.

8. The facilities of cashless hospitalization in all the tie-up hospitals and reimbursement
including domiciliary (Option II) will continue uninterrupted upon successful renewal
of/ joining in the policy and as per the option exercised by the concerned retired
employee/ family pensioner as stated above for the period from 01.11.2022 to
31.10.2023.

9. This staff circular has been specifically issued to provide information to all the retired
employees/ family pensioners on the following two major points

A) Continuation of ‘graded options’ in Base Policy and Super Top-Up Policy for the
ensuing Medical Insurance Scheme for the year 2022-23.

B) Information on Premium Rates, as quoted by ‘National Insurance Co Ltd’ for all

such graded options.

10. Contact Details: For any kind of query regarding online registration, team members
may be contacted on the following numbers:

Union Bank of India, Central Office, Mumbai –

Landline Nos.:– 022- 22896255/ 22896383
IP Nos.: 116252/ 116264/ 116263/ 116254

11. The contents of the circular to be brought to the notice of all Retirees. The Circular is
to be prominently displayed on the notice board of the Branches. All branches/ offices
are hereby advised to display Annexure I & II of this circular on their notice boards
prominently.

Sd/-
General Manager (HR)

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 Annexure I to SC7783

CENTRAL OFFICE, MUMBAI

Premium rates, as proposed & quoted by National Insurance Company (NIC), for Group
Medical Insurance Policy of Retired Employees, for the period of 01.11.2022 to 31.10.2023
are as follows:

Premium Rates for Base Policy {including GST}

For Clerical/ Sub staff (Award Staff) cadre/ Workmen Retired Employee
Options Without Domiciliary With Domiciliary
Basic Sum Insured Family Floater Single Person Family Floater Single Person
(in Rs.) (in Rs.) (in Rs.) (in Rs.) (in Rs.)
300000 41334/- 27901/- 77920/- 52596/-
200000 27557/- 18600/- 51047/- 34457/-
100000 15308/- 10333/- 25520/- 17226/-

For Officer cadre Retired Employee

Options Without Domiciliary With Domiciliary
Basic Sum Insured Family Floater Single Person Family Floater Single Person
(in Rs.) (in Rs.) (in Rs.) (in Rs.) (in Rs.)
400000 57808/- 39020/- 97776/- 65999/-
300000 41334/- 27901/- 77920/- 52596/-
200000 27557/- 18600/- 51047/- 34457/-
100000 15308/- 10333/- 25520/- 17226/-

Page 6 of 7
 Annexure II to SC 7783

CENTRAL OFFICE, MUMBAI

Premium rates, as proposed & quoted by National Insurance Company (NIC), for Group
Medical Insurance Policy of Retired Employees, for the period of 01.11.2022 to 31.10.2023
are as follows:

Premium Rates for Super Top-Up Policy {including GST}

For Clerical/ Sub staff (Award Staff) cadre

Top Up Sum Insured (in Rs.) Family Floater (in Rs.) Single Person (in Rs.)
400000 12475/- 8420/-
300000 9639/- 6507/-
200000 6291/- 4246/-
100000 3730/- 2518/-

For Officer cadre

Top Up Sum Insured (in Rs.) Family Floater (in Rs.) Single Person (in Rs.)
500000 15180/- 10246/-
400000 12475/- 8420/-
300000 9639/- 6507/-
200000 6291/- 4246/-
100000 3730/- 2518/-

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