Naval Group Insurance Fund

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Post Retirement Death Insurance Extension Scheme (PRDIES)

  • Period of coverage for PRDIES has been revised to 25 years after retirement or 72 years of age, which ever is earlier, for officers and sailors retiring after pensionable service.
  • One time non refundable premium for the above scheme has been revised to Rs.19,650/- for officers and Rs.10,775/- for sailors.
  • Sum assured for officers and sailors is Rs.3.6 lakh and Rs.1.5 lakh respectively.
  • The revision in period of coverage, sum assured and premium payable is applicable only for those members retiring after 01 Nov 04. For those who retired earlier, the earlier applicable conditions and rates would apply.

Interest on Car Loans 

Interest on the car loans availed prior to 01 Jun 2003 has been revised to 9% p.a. monthly reducing w.e.f. 01 Jan 2005 thus bringing it at par with the current interest rate.