Postal insurance: Expired postal insurance policies can be retrieved before 31st December!
Posted on: 21/Nov/2019 11:35:35 AM
The Chennai Metro City General Post Office has announced that the expired postal insurance policies can be redeemed and revived before 31st December. A notification in this regard mentions:
As per the government announcement, the PLI (Postal Life Insurance) policies and RPLI (Rural Postal Life Insurance) which expired due to the default of the premium payment for 5 successive years cannot be redeemed or revived after 1st January 2020.
Further, it will be deemed these policies as rejected as per the Postal Insurance Policy Rules and Regulations.
As an offer in the form of 1-time activity/proposal, the policyholders who failed to pay the premium over the last 5 successive years may now make the default payment ad renew and revive the expired postal insurance policies until 31st December.
To avail of this offer, take a medical fitness certificate from a doctor confirming being in good health and attach it along with the filled up form for the postal insurance policy renewal and approach the Chennai General Post Office.
Further, the policies where the premium payments have not been paid for 36 months and thus expired, can also be redeemed and revived by applying as above before 31st December. Only then, the policyholder can avail the financial benefits of either surrendering the policy or claim after the policy maturity or claim the insurance post-death.
Please note that the above-expired policies can be retrieved and redeemed only before the date of maturity.
The application form for renewal can be obtained from the Chennai General Post Office.
For further information, contact: 044- 25212549.
