Some years ago, the think tank of IMA, Maharashtra State formulated a scheme “IMA-MS-Social Security Scheme”. Generally, we all have LIC & the scheme ends there. The scheme not only gives the taxes benefits & covers the risk of uncalled for death but also takes care of the mental & or the physical disability due to which doctor cannot pursue the medical practice permanently, the benefit is payable even if member alive. The member has to contribute for 25 years for the deaths occurring every year. He will not pay for the deaths after that. (He will only pay the annual subscription) & will be a continuous member of the scheme till death or complete permanent physical / mental disability.

How does the scheme work ?

Eligibility: Life member of IMA of any local branch of Maharashtra State up to the age of 60 years.

Rule of Benefits: Benefit of Fraternity Contribution of the scheme is available after the completion of one year of membership of I.M.A. – M.S. – S.S.S. However, a nominee of the member is entitled to such benefits if the death of member occurs in an accident even within one year of joining the scheme.

IMA: Life Member wishing enrollment pays-

  • 3,0007/- Advance Fraternity Contribution, which is returned (without any interest) after 25 years upon death, whichever is earlier.
  • The Admission Fees are paid according to the age bracket.
  • Annual Subscription for 2 years.

The date of registration shall be on the acceptance of the documents and payments as per the schedule, subject to realization of cheque. Incomplete documents will result in a delay in enrollment.

Every year in the month of April ‘100/- per Death X No of Deaths in year = _______ + ‘100/- Annual Subscription = Total, a demand note is sent to every member. This money is known as “Fraternity Fund Contribution”(FFC). ’70/- of this is paid to the nominee of the deceased member & ’30/- goes to form a Corpus. The interest of this Corpus will take care of the FFC payment of the doctors who have survived & Paid Contribution for 25 years in the scheme and who are not needed to contribute thereafter.

The nominees of deceased members will receive ‘3,79,610/- + ‘3000 refund of Advance Fraternity Contribution.

For each of us, it is a Small Step, but for our Dependents, it will be a great help

What we need?

  • A form, duly completed, with an endorsement of the Hon. Secretary/ President of a local branch that you are a life member of IMA or Certified copy of Life Membership Certificate issued by IMA HQ, New Delhi
  • Age Proof – Certified copy of school / College Leaving Certificate / Passport / LIC Policy 1st Pg. / Local Self Govt. Birth Certificate / PAN Card. [No Driving License / Election Card please]
  • Cheque (From Mumbai Area) / Demand Draft (From outside Mumbai Area) of the appropriate amount
  • A name of a nominee, if there is more than one nominee, the full benefit amount will be given to the first named nominee. In case 1st nominee expired to the 2nd nominee unless specified otherwise
  • Passport Size Photo to be posted in Photo Space 1 of the applicant and two of the nominee
  • Dispute of any nature whatsoever to be subjected to Mumbai Jurisdiction only

Contact Dr. Sanjay Devdhar for any enquiries

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