Ludhiana: Last date to revive postal life insurance extended to August 31
PLI covers all government, postal employees and specialised degree holdersUpdated: Jul 05, 2020 00:51 IST
Due to residents facing issues in obtaining medical certificates amid the Covid-19 pandemic, the department of posts, ministry of communication, has extended the date for revival of lapsed postal life insurance (PLI) and rural life postal insurance (RPLI) to August 31.
PLI was introduced in February 1, 1884, as a welfare scheme for the postal employees. But now, it covers all government employees and specialised degree holders, including BSE (non-medical), BCom, BCA, BBA, MSc (IT), postgraduate diploma in fashion designing and others.
Prabhjot Singh, administrative officer at Ludhiana city post office, said, “We appeal to all the customers to revive their policy by August 31. PLI is a good investment option on account of lower premium and higher bonuses. To reap the benefits of the policy, regular payment is mandatory.”
To revive the policy, insurants have to visit the nearest post office and submit a medical certificate from authorised doctors or medical officer as a declaration of good health and put in a request for revival by filling the form.
The penalty is applicable under the revival procedures and the customer will get all earned bonuses for a number of years the policy remained lapsed.
The department of posts has directed all post offices to send reminders to all policy-holders asking them to revive their accounts failing which it will be cancelled as per rules.
PLI offers six different policies including whole life assurance (suraksha), endowment assurance (santosh), convertible whole life assurance (suvidha), anticipated endowment assurance (sumangal), joint life ass4urance (yugal suraksha) and children policy (bal jeevan bima).