CBS | Vasant Sakpal | Insurance Schemes Advisor for Doctors and Hospitals

Consultant Benevolent Scheme (CBS)

A UNIQUE BENEVOLENT SCHEME DESIGNED FOR AMC MEMBERS ONLY.

Biggest Highlights of CBS:

Unlike other Term plans in the market, "No Medical check-up is required to become a CBS Member."

It’s not easy to get Term plans for everyone considering strict norms by Insurance regulators for issuing a term policy. If you’re only a Diabetic or hypertensive, your chances are less to get a regular policy. Whereas if you have undergone any major surgery like bypass, etc. you’re sure not to get a policy for yourself.

Thanks to AMC, for bringing out CBS for its Members, irrespective of their current Health condition.

1. Highlights of the Scheme

You can change the nominee at any stage if required.

Non-Medico Spouse can also become a member of CBS by paying only Rs. 1000 extra along with the Scheme Joining Fee. Yearly Contribution fee remains the same as an AMC member for non-spouse.

Minimum Paperwork

Guaranteed Amount payable to the nominee, on unfortunate event of Death or Total Disability of the member.

Lifelong Validity: Annual Contribution

2. Eligibility

Who can Join this scheme?

AMC member’s & Spouses (A Non-medico & Non-AMC Member “spouse” can also enrol for CBS by paying ₹1000 Extra towards the Scheme Joining Fee).

Maximum 65 years of Age at the time of joining the scheme.

3. Fee payable

Each member while joining the scheme has to pay:

a) Scheme Membership Fee according to the age group (once in lifetime) (This Includes Advance Contribution of Rs. 6000 refundable but interest free.)

b) Annual contribution : Fixed + Variable (for a fixed tenure of 25 years from joining the scheme).

Fixed at present Rs. 400 per year

Variable: Rs 1000 per death or Total physical disability, of any CBS Member.

4. Benefits Payable to the Members

Benevolent fund payable on death is more than Rupees 11,00,000/- as of today.

The fund payable will keep increasing with the number of increasing CBS members.

Spouse also can become members by paying Rs. 1000/- extra and he or she becomes an associated member. They will have the same benefit.

5. How this Scheme works?

“This is a pure number game = More the members in the scheme, More the Amount payable to the deceased family. So please join the scheme today only.”

*Fund payable to a member will depend on the number of valid members in the scheme existing at the time of death or disability, of the deceased member.

6. Claim Process

The fund will be given to the nominee within 30 days (maximum) on receiving confirmation of incidence, of course after satisfying the de-facto position of the case i.e. completed claim form with death certificate of member.

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FAQ

Every year during March you will get letter through post mentioning details about number of death of CBS members in the past year. Also, AMC arranges a call from its staff for intimating about the contribution.

Policy will be active in 3-4 working days.

No medical tests are required at all to become a member of CBS Scheme.

You can pay through IMPS/NEFT/ IRGS/ CHEQUE, as per your convenience, details are as follows:

ACCOUNT NAME: ASSOCIATION OF MEDICAL CONSULTANTS MUMBAI

ACCOUNT NO: 37486042433

BANK NAME: STATE BANK OF INDIA

BRANCH NAME: ANDHERI (EAST)

IFSC CODE: SBIN0000539

ACCOUNT TYPE: CURRENT ACCOUNT