The Social Security scheme I is the most benevolent and prestigious scheme of IMA Kerala State Branch, launched on 1st July 1987. The scheme has completed 20 years and has given substantial financial benefit to 164 bereaved families till date. The fraternity benefit at present is 5.39 lakh.

 

1. The main aim of the scheme is to give financial support to the bereaved family of a member of the scheme in the event of unfortunate death.

2. Charitable activities to help those who are in need of financial assistance for their treatment at the request of local branches of IMA.

Any member of IMA Kerala State Branch below the age of 55 years is eligible to join the scheme provided

a)        Any member above the age of 50 but below 55 yrs should have a continuous membership of 5 years in IMA on the day of joining the scheme.

b)        Any member above the age of 40 but below 50 yrs should have a continuous  membership of 2 years in IMA on the date of joining the scheme

c)        For those IMA members who are below the age of 40 continuous membership in IMA is not mandatory

 

        Any life member of IMA KSB who are eligible to join Social Security Scheme can become a life member of the scheme by making a one time lump sum payment of Rs. 60, 000/- towards the scheme. They need not make any further payment after this.

Admission fees

Admission fees vary from Rs. 1000 to 3000 depending on the age of the member at the time of joining the scheme.

Initial subscription for the ordinary membership

The initial subscription is comprised of admission fees and annual subscription of Rs. 300/-.

The amount to be paid to the scheme at the time of joining the scheme is given below.

The amount has to be paid as DD or Cheque drawn in favour of Social Security Scheme payable at Koyilandi. Online payment can be made at any of the branches of SBT. The SB account No. is 670 144 390 69 maintained at Koyilandi branch of SBT. Those who are making online payment, the Photostat copy of the counterfoil should be send to the scheme office.

 

The filled up application form with the stipulated amount and the document to prove the age can be submitted to the branch secretary or to the honorary secretary of the scheme. The branch secretary, the district representative or the honorary secretary of the scheme can be contact for application forms.

 

Every year Rs. 200/- has to be paid as annual subscription for 20 years. Apart from this Rs. 100/- for each death for a maximum of 25 deaths in a year has to be paid for 20 years. The exact amount to be paid each year will be intimated by the scheme secretary individually on 3rd week of January. Last date for payment with out fine is February 28th and with a fine of Rs.25/- per month or there off .

 

Those who have completed 20 years of payment will be honorary members of the scheme they need not make any further payment towards the scheme but will enjoy all the benefits of an ordinary member.

 

In the event of unfortunate death of a member, the nominee / legal heir will be given an amount equivalent to 150 times the current net membership of the scheme. This amount will increase with the increase in membership of the scheme. The net membership is calculated by deducting the total Number of demises + total number of resignations + total number of deletions + total number of honorary members from the total enrollment number on the previous day of death.

 

Nominee 

Whenever you join the scheme, you can nominate one or more persons to receive the fraternity benefit .the nominations can be changed at any time in due course if necessary. For this you have to write to the scheme secretary.

 

In the event of death of a member, the honorary secretary of the local branch will inform the matter to the scheme secretary. The scheme secretary will send a claim form to the branch secretary. The completed claim form along with the original policy document has to be submitted to the scheme office. On receiving this, the scheme secretary will send a DD in favour of the nominee to the branch secretary who in turn will hand over the same to the nominee. The financial help will be given irrespective of the cause of death of the member.

 

If the annual subscription and fraternity contribution as demanded by the scheme secretary is not paid by 31st May of every year, a registered notice will be send to the member. if the member does not make the payment with in 15 days of receipt of this letter, then the membership shall stand terminated forthwith. As per the rules and bye-laws of Social Security Scheme if any member at any time for any reason ceases to be a member of IMA KSB his membership of the scheme shall cease automatically. Make sure to renew your membership in IMA every year

 

 

Age Group	Admission Fee	Annual Subscription (Rs)	Total Amount (Rs)
Below 30 yrs	1000	300	1300
30 to 40 yrs	1500	300	1800
40 to 45 yrs	2000	300	2300
45 to 50 yrs	2500	300	2800
50 to 55 yrs	3000	300	3300

Every member of Social Security Scheme II shall pay Rs. 500/- as annual subscription for a period of 25 years. Out of this Rs. 150 /- will be credited to the family benefit fund and Rs. 100/- shall be paid to support the activities of IMA KSB.

 

Every member of the scheme II shall pay a fraternity contribution of Rs.300/- per death for a continuous period of 25 years.

 

Those who make payments for 25 years continuously need not make any further payment. They will remain as honorary members of the scheme with all the benefits of an ordinary member.

 

Every member of the scheme II shall pay the annual membership (Rs. 500/-) and fraternity contribution at the rate of Rs. 300/- per death. The secretary of the scheme will send individual demand notice in the 3rd week of July showing the exact amount to be paid. The last date for payment with out fine is 30th September every year, after that there will be a fine of Rs. 100/- per month. If the member does not make the payment with in 90 days a registered notice will be send at the members cost. The membership shall stand terminated forth with, if the member does not make payment with in 15 days of receipt of this letter.

 

The bereaved family of the member will receive an amount equivalent to 300 times the current net membership of the scheme. Net membership is calculated by deducting the total number of demises +total number of resignations + total number of deletions + total number of honorary members from the total enrollment number on the previous day of death.

The present fraternity benefit is Rs. 4.6 lakhs.

 

Application forms can be obtained from the branch secretaries, District representatives or from the honorary secretary of the scheme. Filled up application forms with documents to prove the age and copy of the life membership certificate along with the Cheque or DD for appropriate amount can be handed over to the branch secretary or can be directly send to the scheme secretary. Policy document will be sent to all the members with in a month of receipt of the application form and realisation of the Cheque. Payment to Scheme II can be made online at any of the branches of SBT. The account is maintained at Thalassery branch. SB account No. 670 144 390 14.

 

Age	Rate (Rs)
Below 30 years	3000
30 yrs but below 35 yrs	3500
35 yrs but below 40 yrs	4000
40 yrs but below 45 yrs	5000
45 yrs but below 50 yrs	7000
50 yrs but below 55 yrs	10000
55 yrs but below 60 yrs	15000

 

 

 

The scheme was launched on 1st April 2004.

a)        To provide financial assistance to the family of a member in the event of his death

b)        To provide financial assistance to the member / family at the time of crisis during the members life time

c)        Charitable activities to help those who are in need, recommended by the local branches.

 

Any Life member of Kerala State Branch of IMA below the age of 60 years on the day of joining are eligible to become a member of scheme II provided

a)        A life member of 55 years and below the age of 60 years has a continuous membership of IMA KSB at least for 5 years on the day of joining the scheme II

b)        A life member of 45 years and below the age of 55 years has a continuous membership  of IMA KSB at least for 3 years on the day of joining the scheme II

c)        For a life member below the age of 45 years period of continuous membership in IMA is not mandatory

 

Admission fees varies depending on the age at the time of joining the scheme

Dr.  Srikumar Vasudevan

Sree, Near 3rd Railway Gate,

Thiruvangad P.O ,Tellicherry  670 103

Tel :      0490-2341130(H)

             0490-2322355,2306442(R)

Mobile : 9447355058

E-mail :  srikumarvsd@gmail.com

Dr. O.K. Balanarayanan

“Prasannam”, Kothamangalam,

Koyilandy-673 305, Kozhikode

Tel     : 0496-2620632, 2621728(R)

Mobile : : 94469 56062

Email  : akbn@rediffmail.com

Dr. P. Sachidanandan

Treasurer, Social Security Scheme

‘Anand Bhavan’, P.B.No-18

Meladi.P.O, Kozhikode 673522

Tel :0496-2603033 (H), 2602232 (R)

Mobile : : 94462 81448

Email  : sachidanandan@doctorspost.com