MEDICAL / CRITICAL ILLNESS & TERM INSURANCE PREMIUM ASSISTANCE SCHEME
- Reimbursement: Up to 50% of premium, subject to:
- ₹3,000 – Medical Insurance
- ₹1,000 – Critical Illness Cover
- ₹1,000 – Term Insurance ( Maximum ₹5,000 per seafarer)
- Reimbursement will be made against self-attested premium receipt and policy copy issued by IRDA-approved insurance companies.
- Eligibility includes Indian CDC holders with minimum 6 months cumulative sea service as prescribed.
- Application must be submitted within 60 days before policy lapse.
DETAILS / RULES FOR THE WELFARE SCHEME MEDICAL / CRITICAL ILLNESS & TERM INSURANCE PREMIUM ASSISTANCE SCHEME
1. Objective
To provide financial assistance to Indian seafarers by way of part reimbursement of insurance premium paid towards Medical Insurance, Critical Illness Insurance and Term Insurance policies for themselves and their dependent family members.
2. Effective Date
The scheme shall be applicable only for the above referred insurance policies taken on or after 01.01.2026 from the IRDA approved Insurance Company.
3. Eligibility
An applicant must satisfy all the following conditions:
- (a) Must be an Indian seafarer holding a valid Indian CDC.
- (b)Active seafarers (of any age) should have completed a minimum cumulative sea service of six (6) months
during the preceding five years at the time of submission of application either:
- through an Indian Shipping Company, or
- through an RPSL-approved company./5
- (c) Seafarers aged above 50 years as on 01.01.2026 or retired seafarers of any age must have completed a minimum cumulative sea service of six (6) months after attaining the age of 50 years, through an Indian Shipping Company or RPSL.
- (d) The insurance policy (Medical / Critical Illness / Term) must be obtained only from an IRDA-approved Insurance Company.
4. Nature of Assistance
Financial assistance shall be provided in the form of part reimbursement of insurance premium paid by the eligible seafarer, as approved by the management of the SWFS.
5. Quantum of Assistance
Reimbursement shall be limited to a maximum of 50% of the insurance premium paid, subject to the following ceilings:
| Type of Insurance | Maximum Reimbursement |
|---|---|
| Medical Insurance Policy | ₹3,000 |
| Critical Illness Cover | ₹1,000 |
| Term Insurance Cover | ₹1,000 |
| Total Maximum Assistance | ₹5,000 per seafarer |
6. Documents Required
The following documents shall be submitted along with the application:
- (a) Self-attested copy of the Insurance Policy document.
- (b) Self-attested copy of the Insurance Premium Paid Receipt, issued by an IRDA-approved Insurance Company.
- (c) Copy of Indian CDC.
- (d) Proof of sea service (as applicable).
- (e) Bank details for reimbursement. (Should be a normal savings account and NOT be NRE/NRO account)
7. Time Limit for Submission
The application along with all requisite documents must be submitted within 180 days of issue of the insurance policy.
8. Mode of Disbursement
The reimbursable amount, as approved by the Competent Authority, shall be credited directly to the bank account of the seafarer.
9. Authority
The scheme shall be implemented as approved by the Committee of Management (COM) and administered by SWFS as per prescribed procedure.