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IAP’S FAMILY BENEFIT SCHEME Brief summary

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

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IAP’S FAMILY BENEFIT SCHEME Brief summary

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  1. IAP’SFAMILY BENEFIT SCHEMEBrief summary HEAD QUARTERS HYDERABAD Andhra Pradesh India

  2. Family Benefit SocietyReg. 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. MESSAGEWHY 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 benefit @Rs 300/death. • Members below “65” years are only eligible to join now and from next year(26-03-2012) 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 11th bill,d:15-9-11 DFC paid 15 lakhs, total amount paid average Rs 38000/member - since inception 2003. • 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. 1000-1500, 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 PAYMENTSTRANSPARENT: 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 www.fbsiap.org and/ or e-mail to fbs.iap@gmail.com 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 1ST 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 : WWW.AIOS.INor WWW.IMANSS.ORG WWW.IMAAPSTATE.ORG

  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 www.fbsiap.org fbs.iap@gmail.com You can join IAP FBS even if you are IMA & other FBS’s member Thank you

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