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IAP’S FAMILY BENEFIT SCHEME Brief summary HEAD QUARTERS HYDERABAD Andhra Pradesh India.

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Presentation on theme: "IAP’S FAMILY BENEFIT SCHEME Brief summary HEAD QUARTERS HYDERABAD Andhra Pradesh India."— Presentation transcript:

1 IAP’S FAMILY BENEFIT SCHEME Brief summary HEAD QUARTERS HYDERABAD Andhra Pradesh India

2 Family Benefit Society Reg. No:152/2011 Hyderabad. Indian Academy of Pediatrics Central President Dr T U Sukumaran President-Elect Dr Rohit Agrawal Launched on 27 March 2011

3 MESSAGE WHY JOIN IAP-FBS? Financial growth as the Scheme Rolls-GOOD FINANCIAL INVESTMENT Spiritual growth - Feeling of oneness among all Contentment Security: Registered elected body under purview of experienced seniors, auditors and Central IAP control. Passing on to the next generation indirect after-effects of contribution

4 SALIENT FEATURES The benefit can be > Rs. 10 lakhs.(>3000 members).More members more 300/death. Members below “65” years are only eligible to join now and from next year( ) it will be only up to 55 Years. The total amount payable by a member throughout his lifetime will be less than Rs.1 lakh for a benefit of > Rs.10 lakhs to his family. Ex: IMA AP FSS 11 th bill,d: DFC paid 15 lakhs, total amount paid average Rs 38000/member - since inception The admission fee will be more and the age of admission will be less every year.

5 EARLY JOINING BENEFICIAL So join now with a small amount of money and give > Rs. 10 lakhs (>3000 members) protection to your family and that of your colleagues. If any young earning FBS member dies suddenly, this scheme is of immense help to the family.

6 PAYMENTS The yearly payment by a member will not exceed Rs , per year now* when the membership of the scheme goes to 3000 and the benefit to the family will be > Rs.10 lakhs. Average death rate per 3500 Members may vary from 0 to 4 per year. A member will pay less than 1 lakh in his life time (~50 years of membership) to the scheme to get benefit to his nominee of > Rs. 10 lakhs, increases with more members. *Based on an average of past 20 years reported death rates at Central IAP

7 BILL PAYMENTS TRANSPARENT: ALL ON WEB! SBH/ SBI online A/c No. for admission payment for new members …………. For FC Collections another a/c may be opened in which the members can directly pay the dues online from anywhere in India in any SBH/SBI Branch or from any connected bank and send the Original pay in Slip to the office. Or log on to and/ or to for any other information on the society. List of members, payments, dues, corpus, defaulters, beneficiaries etc. will be put up on website in individual accounts with password.

8 ADMISSIONS AND ADMINISTRATION FBS IAP certificates will be sent to all the new members immediately after admission. The scheme is registered under the Society’s Act. Governed by All India Managing Committee of ~ 55 members under Central IAP control. Headquartered at Hyderabad with Local team management for day to day administration.

9 General Life Insurance Queries FBS IAP FBS IAP IS LIFE INSURANCE. ACCIDENT INSURANCE ALSO EVEN IN FIRST YEAR OF ENROLLMENT (window period) IT IS A CONTRACT BETWEEN FBS IAP & IT’S MEMBERS. FBS IAP IS WHOLE LIFE TERM INSURANCE POLICY. Covers natural, accidental, homicidal or suicidal deaths PERIOD FOR WHICH PREMIUM SHOULD BE PAID IS LIFE LONG PRESENTLY AND/OR 25 YEARS MEMBERSHIP AND 75 YEARS OF AGE.

10 LIC / FBS FBS IAP COVERS RISK. RISK MEANS DEATH DUE TO ANY CAUSE AFTER 1 YR./ACCIDENT IN 1 ST YEAR. FBS IAP PROVIDES FACILITY FOR NOMINATION. SINCE FBS IAP IS WHOLE LIFE TERM INSURANCE POLICY, COMPARE IT WITH ANY WHOLE LIFE TERM INSURANCE POLICIES IN MARKET. FBS IAP IS THE CHEAPEST WHOLE LIFE TERM INSURANCE POLICY. YOU PAY LESS AND YOURS AND YOUR COLLEAGUES FAMILY WILL GET MORE.

11 CONSTITUTION OF FAMILY BENEFIT SCHEME OF IAP MODELS TAKEN FROM IMA NATIONAL, AP STATE FSS, IMA FBS, AIOS., AMC MUMBAI ALL-INDIA RADIOLOGIST AND OTHER PROFESSIONAL BODIES TAKING POSITIVE POINTS AND AVOIDING PITFALLS OF SUCCESSFULLY RUNNING FBS ALL OVER INDIA. REFER : or

12 VOLUNTARY HEALTH DECLARATION ONLY VOLUNTARY HEALTH DECLARATION BY MEMBERS JOINING THE FBS FOR TERMINAL ILLNESS;BP, HEART, DIABETES AND CHRONIC DISEASES NO BAR. ONE YEAR WINDOW PERIOD. NO NEED FOR MEDICAL TESTS AND CERTIFICATION.

13 FUND & TAX Safe in Nationalized Bank Death Benefit Fund to the nominee is tax-free FC not tax-deductible X NO 12 A, NO 80 G I T EXEMPTIONS X

14 SOUND FOOTING Scheme is receiving good response. Taken off well, So far > 350 members joined in initial 4-5 months from all over India (September end 2011). More are joining every day Aim is to make 3500 membership ASAP achieve > Rs 10 Lakhs as DBF. Cherished goal 5000 Members- Rs 15 lakhs DBF.

15 JOIN FBS IAP Spread the message, promote & pave the way for Financial security to your family/Nominee. Get immense benefits the Scheme offers. First & only IAP project caters to the welfare of the IAP members and their families.

16 Address You can join IAP FBS even if you are IMA & other FBS’s member Thank you


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