Business & Economy

Premium payment for Postal Life Insurance & Rural Postal Life Insurance extended up to April 30

NetIndian News Network

New Delhi, April 1, 2020

In view of the threat posed by the COVID-19 outbreak and the countrywide lockdown, the date for premium payment for Postal Life Insurance and Rural Postal Life Insurance has been extended up to April 30.

Directorate of Postal Life Insurance (PLI) has given the extension of the period for payment of their due premium of March up to April 30 without charging any penalty/default fee.

Directorate of PLI said that although many Post Offices are functional as part of essential services, Postal Life Insurance/Rural Postal Life customers are facing difficulty in approaching post offices for payment of premium. Therefore, as a measure of convenience to all the PLI / RPLI customers, the period of payment has been extended.

The decision is likely to benefit approximately 13 lakh policyholders (5.5 Lakh PLI and 7.5 Lakh RPLI) who have not been able to pay a premium for the current month. As compared to about 42 lakh policyholders who paid premium last month, only 29 lakh of them had been able to pay the premium for this month till March 30.

Customers registered on the portal have also been advised to pay the premium online using PLI customer Portal.