Family Benefit Scheme
Salient features of the All India Ophthalmological Society Family Benefit Scheme .
(Only Life Members of AIOS are eligible to join the scheme)
I. The Scheme shall be known as Family Benefit
Scheme All India Ophthalmological
Society and in short FBS AIOS.
II. Head Quarters : The head quarters shall be located at
5-87-104. Laxmipuram Main Rd. GUNTUR 522007.A.P.
Phone. 0863- 2235344 O863 5585286 Cell. 0863 3100428.
FAX. 0863 5540773
E mail. eyecare@vsnl.com & drramc@sancharnet.in .
III. Date of effective operation . : The Scheme will start from 1-1-04. and becomes operative on the date of enrolment of a minimum of 500 members. A member will become eligible for any claim 12 months after he / she being admitted to the scheme.
Aims and Objectives .:
1.To provide immediate substantial Financial help to the family of the members of the Scheme on his / her demise and to look after the interests of the Members by Admitting 3000 members so that the Scheme can provide Rs.15 lakhs to the family.
2. To promote all the Aims& Objectives of AIOS.
IV. Eligibilit y : The applicant must be a life member of AIOS .If a doctor couple intends to join the scheme they have to join the scheme as individual members.
V. Procedure for Enrolment of membership :
1.Already Life Members of AIOS have to apply in the prescribed application form which can be obtained from the Hony. Secretary / Convenor FBS AIOS or from the Co Convener or from Secretary of the concerned State or local Ophthalmological society Branches.
New life members of AIOS , annual members of AIOS and Hon.Life members of AIOS above the age of 49 also can apply after becoming the Life members of AIOS during this year only before the end of 2004.
2.The completed application form should be submitted to the convener along with the membership fee (contribution to the Corpus Fund) of the Scheme (as described below ) by a Demand Draft or chalan of the ICICI Bank for the amount specified as per the age of the individual at the time of applying (Taking the D.D.) in favor of Family Benefit Scheme All India Ophtahalmological Society (FBS AIOS) Payable at Guntur to the following address.
( Dr.C.Sri rama Murthy, Convener FBS AIOS 5-87-104. Laxmipuram Main Road. Guntur 522007. A.P.) Please enclose A Xerox Copy of the evidence of AIOS Life membership certificate or AIOS Life membership Number and an acceptable proof of date of birth certificate copy.
VI. Contribution to the Corpus fund of the Scheme .:
1. At the time of application each member shall contribute an amount to the corpus fund of the scheme according to his / her age as on the date of receipt of application (Taking the DD) along with the necessary Documents and the Demand Draft for the amount specified below.:
| Age in years |
Amount Rupees |
Age of Member on or after.. |
| Up to 44 years Not completing 44 |
5000.0 |
1-1-1961 |
| 44 to 49 years not completing 49. |
7000.0 |
1-1-1956 |
| 49 to 54 years not completing 54. |
10,000.0 |
1-1-1951 |
| 54 to 59 years not completing 59 |
15,000.0 |
1-1-1946 |
| 59 to 6 4 years not completing 64 |
20,000.0 |
1-1-1941 |
| 64 to 69 years not completing 69 |
30,000.0 |
1-1-1936 |
| 69 to74 years not completing 74 |
40,000.0 |
1-1-1931 |
| 74 to 79 years Not completing 79. |
50,000.0 |
1-1-1926 |
2. Life members of AIOS below the age of 48 years can join the scheme any time. The Life members above the age of 49 should join Scheme before one year of starting otherwise they will permanently Miss the opportunity of becoming a member of FBS and their families do not get the financial b enefit at all . This one year period is a golden opportunity to the members to join the Scheme who have completed 49 years and above.
VII. Applying for Fraternity Benefit .
a) In the event of death of a member ,the nominee /nominees shall inform the same to the Hony.Secretary of FBS AIOS and ask for the claim form.. The claim form duly filled in along with the death certificate & other relevant enclosures as noted in the claim form are to be sent to the Hony secretary of the scheme through the secretary of the local Branch of state or district ophthalmological society .
b) The fraternity Contribution will be drawn from the FBS Corpus fund with in 60 days of passing of the claim. Then a demand will be made by the Hony. Secretary from each member once in 6 months ( January and July ) of each year for the out standing dues as on that date. This amount has to be paid by all the members with in 30 days of demand. If the member does not pay in time a penalty of Rs.100 per each month or part there off will be collected .If a member does not pay even after 6 months after the demand notice with penalty, he looses his membership automatically after a registered letter of intimation to the member s available permanent address with the office .
c) The Fraternity Contribution will be calculated according to the membership strength as on the first day of the month in which the death has occurred. In the case of death of a member Rs.550.0 (Five hundred and fifty rupees) will be collected per member per death from which Rs.500.0 (Rupees five hundred only) will be paid to the member s Nominee / Nominees. This Fraternity Contribution may be changed from time to time depending on the requirement for successful running of the scheme .The rest of the Rs.50 will be for the office expenses.
d) In case of death of a newly admitted applicants above the age of 70 years and below the age of 75 years Rs.350 (Rupees three hundred and fifty only) will be collected out of which Rs.300 goes to the nominee.
e) In case of death of a newly admitted member above the age of 75 and below the age of 80 years. Rs.250 (Rupees two hundred and fifty only) will be collected from the members and Rs.200 (Rupees two hundred only) will be paid to the nominee of the deceased member.
(d) & (e ) clauses apply to the newly admitted aged members above the age of 70 and 75 years only as there is no possibility of admitting new members above the age of 50 years after one year of starting the scheme. As the payment duration is less to these members this condition of collecting less from the members of the Scheme and giving less to the nominees. There is no possibility of a member above 65 years taking up a policy of LIC and as an honorary gesture we are admitting these seniors who have served the association and the society.
VIII. Payments.
All payments have to be made only by Demand Draft or Chalan of ICICI Bank ( enclosed with the application )Payable at GUNTUR drawn in favor of FBS AIOS to the office address of the Convener. The membership of a member will get terminated if he does not pay the dues with in 6 months of the due date with penalty. A final registered notice will be given to the member about the dues 5 months after the due notification and if he does not respond he will get his membership terminated automatically with out intimation. The details of membership dues will be available on the web site and any member can see on line and pay the dues. The details of membership, Corpus fund, and expenses report will also be available on line .
I.C.I.CI Bank will collect the admission fee (corpus fund) and dues to FBS AIOS without processing fee (cheque commission and DD Commission if a chalan of the scheme is used) and members are encouraged to make use of the facility wherever the services of ICICI and its associate bank's services are available.
A newly admitted 70 75 year old member dies his nominee will get 3 lakhs, 6 lakhs, 9 lakhs if the membership is 1000 or 2000 or 3000.
A 75 79 Member dies his nominee will get 2.lakhs- 4 lakes- 6 lakhs if the membership is 1000 or 2000 or 3000.
All others nominees of members who joined below the age of 70 years now will get 5 Lakhs and 10 Lakhs and 15 Lakhs as per the membership of the FBS 1000 or 2000 or 3000.
The yearly Fraternity Contribution to FBS, which gives a cover of 15 lakhs, will be far less than 2 lakhs of LIC policy s yearly premium of a person.
Payments to FBS AIOS are exempt from tax under 80 G.(5) ( VI) of the Income Tax act 1961.vide letter NO. DIT (E) /2002-2003/ A-899 /489. of the Director of Income Tax (E) dated 19-6-03.
All the correspondence may be addressed to the following address of the Convener for any clarifications by e mail ( for immediate response ) or letter or by phone at any time of any day.
Dr.C.Sri rama murthy. Convener FBS AIOS 5-87-104.
Laxmipuram Main Road. GUNTUR 522007. A.P.
E-mail . drramc@sancharnet.in
Cell -- 9394100428
Phone 0863- 2235344 - 2239934 ( 0) 2243186 (R)
FAMILY BENEFIT SCHEME
ALL INDIA OPHTHALMOLOGICAL SOCIETY
This Scheme is meant to help the families of the deceased members with low investment and high benefit to the family with a considerable financial help . Early admission of 3000 membership will help to give Rs,15 lakhs to the family of the deceased member Date of Commencement of the FBS AIOS is from 1-1-2004. This scheme starts effectively as soon as 500 members join in the Scheme. Eligibility for claim is 1 year after admission of the member and 500 membership in the Scheme. Eligibility for admission in FBS AIOS is only for Life members of AIOS. All annual and Honorary Life members also can join the Scheme this year if they become Life members of AIOS No member above 49 yrs can join from 31-12-2004
Contribution to Corpus Fund is to be sent only by DD or ICICI Bank Chalan (to be supplied ) at the time of admission as per the age of the member as detailed above .
If a newly admitted 69-73 years old member dies his nominee will get 3 lakhs, 6 lakhs, 9 lakhs if membership is 1000 or 2000 or 3000 on that day. If a newly admitted 74-79 year old member dies his nominee will get 2 lakhs, 4 lakhs, 6 lakhs if the membership is 1000 or 2000 or 3000 on that day. All other nominees of members who joined now below the age of 69 years will get 5 lakhs, 10 lakhs and 15 lakhs as per the membership of the FBS 1000 or 2000 or 3000 on that day. No yearly payments if there are no deaths. Payments to FBS AIOS are exempt from income tax under 80G (5) (6) of the income tax act 1961. A member pays less than 25% of initial LIC Policy Payment and less than 10% of annual payment of LIC for a one lakh policy and the family gets the benefit of 15 Lakhs after the membership goes to 3000. As per the statistics the no of deaths after reaching the membership of 3000 is likely to be less than 12.
Hon Secretary AIOS is the main Signatory for the cheque withdrawal along with either the Convener or the treasurer. Please send the DD with correct calculation of age to avoid delay in admission and unnecessary correspondence.
As FBS AIOS is a part and parcel of AIOS the 80G.tax exemption applies to it also. The exemption starts from the day of taking the DD. If a member dies before 12 months after joining the Scheme the Corpus fund will be returned to the nominee deducting 20% of the total amount paid. If the member's nominee is in any way connected with the cause of death the benefit amount will not be given to him / her and it will be the property of the AIOS and will be spent in a befitting manner to honor the member .This last item however is to be decided by the G.B. after the commencement of the Scheme.
