PLI as a scheme has been available since 01.02.1884.

PLI is only for Government, Semi-Government employees and professionals.

One policy on each child can be taken, subject to the maximum of two children.

PLI /RPLI policy need not be transferred from one Circle to another Circle. Now premium can be paid at any post office across the country and policy payment can also be taken from any post office.

Every scheme has some unique features, as given in pre-pages.

'YugalSuraksha' scheme under which both can jointly get a policy, after paying a little more premium.

One can continue by making payment at any post office throughout the country, even after quitting service.

Loan can be taken from Endowment Assurance, YugalSuraksha after completion of 3 years and in respect of Whole Life, Convertible Whole Life Policy after completion of 4 years. Loan facility is not available in AEA policies.

No

• Endowment Assurance (Santosh)policies after 3 years from date of issue of policy.
• Whole Life Assurance (Suraksha)policies after 4 years.
• Interest @ 10 % p.a calculated on six monthly basis.
• Loan entitlement is calculated on a prefixed proportion of the surrender value.
• Interest is payable once in six months.

"Surrender value" of a policy, means the amount Life assured when on surrender of a policy for immediate cash payment.

"Surrender value" of a policy, means the amount Life assured when on surrender of a policy for immediate cash payment.

• Proportionate Bonus on reduced sum assured is paid if policy is surrendered after 5 years.
• Endowment Assurance policy can be surrendered after 36 months
• WLA policy can be surrendered after 48 months
• No surrender of AEA policy
• No, Bonus will be given only once policy completed. Surrendering any policy is always a loss.

Premium receipt book is issued to the insurants for deposit of Premium in any Departmental PO. There is a facility of recovery from pay for all employees belonging to central government organizations.

Premium can be paid online through https://pli.indiapost.gov.in

Yes, recovery of the premia through salary is possible.

Yes, before date of last premium, he can apply for its revival and after credit of due premium with interest @ 12% per annum and a good health certificate, he can continue this policy. After revival due bonus will be automatically attached with this policy.

If the premia are not paid for 6 month in case policy within 3 year, (or) 12 months in case of policy is for more than 3 years, then the policy becomes lapsed. This needs revival to make it active. Revival shall be on any number of occasions during the entire term of the policy.

One can pay the premium in the subsequent month, by paying a minimum fine of 1% of premium amount per month.

Available under section 80 C of I.T. Act. toward premium paid.

For every Rs.20000/- sum assured Rs.1/- is allowed as rebate every month, as long as the policy continues e.g. for taking Rs.one lakh policy PLI allows Rs.5/- as rebate in EA/WLA/AEA policy. Further, if premium is paid in advance for six months 1 % rebate will be given. If premium is paid in advance for 12 months 2 % rebate will be given. Besides this rebate, Income tax Department also allows rebate on Income tax for your premium payment.

All claims are settled as per set norms promptly.

Sum Assured with accrued bonus till the date of death of the policy holder.

Yes, if the policy continues for two years.

PLI payment is made to the right person through proper identification by the local postmaster. The variation in signature will not be a hurdle in taking payment. No comparison is done in normal circumstances.

Medical examination of the proposer is compulsory in the following cases :-
PLI : Sum assured/Aggregate Sum assured limit is more than Rs. 1 lacs or proposer's age is more than 35 years.
RPLI : Sum assured/Aggregate Sum assured limit is more than Rs.25,000/- or proposer's age is more than 35 years.

It is always better & safe to go for medical policy. Non medical policy attracts deduction of a sizable percentage of death claim amount, if policy holder dies within 3 years from the date of acceptance of policy.

Yes, it is always safe and secure to declare truthfully about one's health condition, ailments or family history while taking a policy.

Policies may be assigned by the policy holder, either:
For valuable consideration, loan against policy or by way of gift.

Nomination can be made for maximum three persons.

A policy holder is advised to nominate a person to whom the sum assured shall become payable in the event of his death, so as to save his legal heirs the trouble and expense of obtaining legal title to the sums payable under the policy.

Where the policy matures for payment during the life time of the person whose life is insured or where the nominee or, if there are more nominees than one, all the nominees die before the policy matures for payment, the amount secured by the policy shall be payable to the policy holder or his heirs or legal representatives of the holder on the basis of succession certificate as the case may be.

All persons, male or female, who permanently reside in rural areas and are ordinarily residents in India in the age group between 19 years and 55 years, can take RPLI policies. A person having non standard age proof should be in age group between 19 years and 45 years.

Extract from School Register, extract from transfer certificate, extract from service register, extract from service records of small commercial institute, ID card of Defense Personnel, Board or University Certificate showing date of birth, Municipal or other live records.

Horoscope, elder's declaration, Medical examiner's appropriate age certificate, self-declaration counter signed by Panchayat member.

The holder of a policy of life insurance may, where the nominee is a minor, appoint any person to receive the money secured by the policy in the event of his death during the minority of the nominee. The consent of the appointee should be obtained at the same time as the appointment is made. Provision for this is made in the Proposal form.

The assignment may be made either by an endorsement on the reverse of the policy itself or by a separate deed. The assignment must be dated and signed by the assignor in the presence of a witness. Except in the case of an assignment in favour of the President of India as a security for the repayment of any loan granted out of the fund, an assignment, otherwise complete, will be inoperative against the Fund, unless a notice in writing of the assignment has been delivered to the CPC/Divisional Head /Chief Postmaster General/ Postmaster General.

Customers can contact the Customer Care Centre, Office of the Chief PMG of the concerned Postal Circle from where the policy has been taken. Toll free number : 18002666868