Pay Your PLI Online
Pay Your PLI Online. If you have PLI ( Postal Life Insurance ) and you cant pay it online than now you can pay it online. Download below form and submit in your post branch than you get userid and password by mail. That can you pay your PLI ( Postal Life Insurance ) primium online. For more contact your PLI post Branch.
Pay Your PLI Online ( Postal Life Insurance )
The policy for which any premium/premia have become due, not paid either on first day of the month for which the premium is due or within the period of grace allowed as per Rule 44, the policy shall become void.
In the case of a policy which has not completed thirty six months from the date of acceptance of the policy and where any premium/premia have become due, not paid either on first day of the month for which the premium is due or within the period of grace allowed as per Rule 44, the policy shall become void and if death of insurant takes place at any time after becoming the policy void, all claims to any benefit in virtue thereof shall cease and all money that have been paid in consequence thereof shall be forfeited except in cases mentioned hereafter
The Postmaster General, however, has discretionary powers in special cases to allow ex-gratia payment of the value of a policy or a part thereof, or ex-gratia refund of premia paid by the insurant or part thereof, with interest or without interest, provided he is satisfied that there has been no deliberate infringement of rules with the object of using the insurance fund in a manner adversely affecting its interest, and circumstances warrant payment of policy money.
In the event of a policy-holder of a void policy desiring re-instatement of his/her policy within a period not later than six months from the date of first unpaid premium had become due in respect of such policy, he may deposit all the arrears of premium/premia till the date of payment along with interest thereon at the rates as prescribed by the Director General of Posts in the Post Office or online on the authorized website of the Department of Posts.
The re-instatement of the policy shall be automatic without any further act on the part of the insurant or the Department, subject to continued insurability of the life at the time of payment of arrears, and for that the insured person shall submit declaration of good health;
Provided that if any payment purporting to be premium payments are made during the period of six months mentioned above and if they do not cover all the arrears together with interest thereon required to prevent the policy from becoming void, such payment shall be held in suspense and shall not be considered as payment by way of premium to cover the risk of the life assured.
No claim whatsoever shall lie on the Department in the event of death of the life assured during such period when premium/premia are held in suspense and the policy is not re-instated. Such premia as are held in suspense shall be refunded to the policy holder or his/her nominee, or his/her legal heir as the case may be, as and when applied for along with interest as prescribed by the Director General of Posts.
Pay Your PLI Online ( Postal Life Insurance )
Note: For Information Contact Your Post Office Branch.
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