AFVOA Newletters of Year 2013

Page 56 of 61 >50 and <55 Rs 6000 >55 and <60 Rs 5500 >60 and <65 Rs 4000 >65 and <70 Rs 3500 >70 and <75 Rs 3000 >75 and <80 Rs 2500 >80 and <85 Rs 2000 >85 NIL 2. Those unwilling to pay LTS may pay on an annual basis. 3. LTS covers the member as also the spouse after the demise of the member. 4. 01 Apr of every year will be the date for reckoning age related subscription. If a person is born on 25 Mar 1948, on 01 Apr 2013, he will be 65 plus. He will then fall in the age band 65 to 70. However, if a member is born on 5 Apr 1948, he will have to wait for one more year to be eligible for the subscription as applicable to the 65 to 70 category. 5. For those who have been members for a period of two years and have crossed 85, Life Time Membership Subscription will be totally waived. They will be made Life Term Members without any payment. 6. Such members and lady members who have crossed 85 and 75 respectively, and have paid their annual subscription for the year 2013-2014, will be given a refund of their subscription, since they qualify for Life Time Membership without paying anything. 7. For those lady members who have been members for a period of two years and have crossed 75, Life Time Membership Subscription will be totally waived. They will be made Life Term Members without any payment. 8. We have several lady members who are spouses of deceased gentlemen members. Similarly, it may be possible that we have, sometime in the future, gentlemen who are spouses of deceased lady members wanting to join the organisation. It is proposed that They may pay a lump sum of Rs 1000 and become Life Time Members. 9. For a member who is say 83, it may be prudent to pay the annual membership for two years and on crossing 85, claim the free life term membership. Similarly, some other members who are reaching the age cut-off, may time the commencement of their life term membership to their best advantage. 10. Members, who have paid prospectively, will have the option to use the money at their credit to convert their membership into life term. 11. Life Time Members will be assigned membership numbers. When the member passes on, the widow will continue to use the same number. 12. Proposal of LTS can work by periodically and regularly investing the accumulating LTS in long term deposits.