Flying Pay Linked Insurance - 14 (FPLI-14)

Govt of India, Ministry of Defence, approved enhancement of flying pay for all aircrew wef 01 Sep 1981 vide their letter No Air HQ/24011/71/PP&R-1/2282/DOIIB/D(Air-III) dated 28 Sep 81 amended vide letter No Air HQ/24011/71/PP&R-1/2305/D (Pay services) dated 13 May 1986.

Based on the feedback received from all stakeholders and the advice obtained from accredited actuary, the Board of Trustees (BoT) of AFGIS has approved introduction of Flying Pay Linked Insurance Scheme ( FPLI-14) to replace FPLI-81 Scheme. The revised Scheme (FPLI-14) has come into effect from 01 Oct 14.

Insurance Cover and Monthly Contribution

Details of the insurance cover and monthly rate of contribution for different categories is tabulated below:-

(Aircrew Officers & Aircrew Airmen)
LIFE DISABILITY (100%) Saving Element Risk Element Total
1 Fg Offr & Flt Lt 10,00,000 5,00,000 500 470 970
2 Sqn Ldr to Gp Capt 10,00,000 5,00,000 500 360 860
3 Air Cmde & above 10,00,000 5,00,000 500 240 740
4 Airmen Aircrew 5,00,000 2,50,000 270 230 500

Recovery of Contribution

The monthly contribution for the revised FPLI-14 will be recovered through IRLA from the pay for the month of Sep 14 of all concerned aircrew officers and aircrew airmen.

Life Cover

The amount of life insurance cover under this Scheme will comprise of the cover assured and the accumulated balance of Saving Element of contribution up to the month of death together with interest and bonus as applicable.

Disability Cover

The amount of disability insurance cover for 100% disability will be 50% of the amount of the life cover and will reduce proportionately up to a minimum of 20% disability. Disability cover payable will be in addition to the accumulated balance of Saving Element, together with interest and bonus.

The accumulated balance of the Survival Benefit (SB) under the earlier FPLI-81 Scheme held with AFGIS in the credit of each member would continue to earn interest at the rate (at present 10% pa) and bonus, if any, as approved by BoT. The accumulated balance of FPLI-81 and the Survival Benefit under FPLI-14 would be payable to the member or his/her nominee(s) at the time of retirement/superannuation or along with the insurance cover/disability cover, as may be the case. The concept of break-even point in FPLI-81 will not apply to FPLI-14.

The revised insurance cover (life /disability) shall apply to claims arising on or after 01 Oct 14.

All other terms and conditions which were applicable to FPLI-81 Scheme would remain same for FPLI-14 scheme.