Naval Group Insurance Scheme is a risk cum saving scheme. The general scheme covering all Naval & Coast Guard personnel has been revised w.e.f. 01 Apr 2010, and the rates of subscription and various benefits admissible to members are as follows:-

(All figures are in Rupees)		Officer	Sailor / Navik
(a)	Monthly Contribution	4000	2000
(b)	Insurance Cover	40,00,000	20,00,000
(c)	Disability cover for 100% disability on invalidment out from service prior to expiry of engagement	20,00,000	10,00,000
Pro-rata disability benefit is admissible for 20% and above disability.

II. POST RETIREMENT DEATH INSURANCE EXTENSION SCHEME

Post Retirement Insurance Scheme cover against death only is provided on payment of one time non refundable contribution by officers and sailors on their retirement from the service on completion of pensionable service. This insurance cover does not cover professional flying risk. The period of cover and sum assured for members who join the scheme are follows:

(All figures are in Rupees)		Officer	Sailor
(a)	Single Non-Refundable one time Contribution	20775	15500
(b)	Insurance Cover	4,50,000	200,000
(c)	Period of Cover	30 years from the date of retirement or upto 75 years of age, whichever is earlier