DEPARTMENT OF POSTS

POSTAL LIFE INSURANCE

To,
Sh/Smt- KARTIK JANARDHAN GHODE
S/W/D- JANARDHAN
Address- NEAR HANUMAN MANDIR SUSHIL NAGAR
Village/Taluka- AMRAVATI
District/City- AMRAVATI
State/Country- Maharashtra, INDIA
Pincode- 444606
Mobile- 7743892340
Email- [email protected]

Welcome Letter

Dear Sh/Smt- KARTIK JANARDHAN GHODE

We take this opportunity to thank you for choosing India’s oldest insurance scheme operated by
the Government of India. The Postal Life Insurance was established in the year 1884 and since
then had been providing insurance services flawlessly.

By choosing “PLI” you have become one of the privileged members of India Post. I take this
opportunity to brief you about your policy and the services you can avail with the policy you are
holding.

You have purchased Santosh policy which has a sum assured for Rs.300000 and your policy will
mature on 16/12/2053. Your acceptance letter is enclosed. You are covered under this policy w.e.f
16/12/2022 and your Policy number is 0000007156980.

You will be happy to note that with Santosh policy, you are entitled for Income tax rebate
under 80-C, “take /cannot take loan against the policy, and can/cannot surrender the policy under
certain conditions. I am enclosing the detailed benefits you will get after availing this policy.

As a privileged member you get the facility of rebate for 6 monthly /12 monthly premium
deposits. As on record, you have availed the nomination facility and nominated NANDA
JANARDHAN GHODE.

As part of the citizen outreach, you can now deposit the premium through Postal Life Insurance
online Portal https://pli.indiapost.gov.in and keep track of all your policies online. You can merge
other policies of PLI and pay the premium together, hassle-free.

PLI is now serviceable through the call centre too by dialing 18002666868 and for any service
request you can use our automated Interactive Voice Response System (IVRS) facility too. Our
portal is fully equipped with the latest ICT technology and you will get the service request resolved
through our portal. You can follow us on social media on Facebook, Twitter and Instagram by
following the universal handle @postalinsurance.
We would like to thank you once again for choosing Postal Life Insurance.
With Regards,
Scan Signature
Name- Incharge
Designation- Central Processing Centre (CPC)
Death Benefits : Multiple Premium Payment Option :

On the death of Life Assured during the policy term, PLI and RPLI policyholders can pay their premium
provided the policy is in-force, the sum assured plus at any post office across the country. In case of
accrued bonus and Terminal Bonus, if any will be salaried employees, recovery of premia from salary
payable and the policy gets terminated immediately. is possible. Alternatively, premium may also be
Death Benefit will be payable after recovering all paid online at the customer portal
outstanding premiums due and unpaid in the policy https://pli.indiapost.gov.in/ through debit/credit
year in which death occurs. card, wallet, BHIM/UPI and net banking. Customer
Portal offers a convenient any-time and any-where
Limits in Death Claims: If this policy has been taken premium payment option to policyholders and
under non-medical scheme and death of the insured allows policyholders to view the status of their
occurs before completion of one year or after one policies on a real time basis.
year but before completion of two years or after two
years but before completion of three years from the Rebate Allowed on PLI/RPLI Premium Payment :
date of acceptance, then only 35% or 60% or 90%
respectively of sum assured, as the case may be, Admissible rebate @ 1% and 2% shall be given for
along with bonus accrued shall be payable to the (i) 6 months and (ii) 12 months or more advance
nominee(s)/ legal heir(s). deposits in PLI respectively. Admissible rebate @
0.5%, 1% and 2% shall be given for (i) 3 months,
Maturity Benefits : (ii) 6 months and (iii) 12 months or more advance
deposits in RPLI respectively. In addition, for every
Rs. 20,000/- sum assured, a rebate of Rs. 1 is
On survival of Life Assured till the end of policy term allowed every month in EA/WLA/AEA policies. In
and provided that all the Premiums have been paid case of Yugal Suraksha policy a rebate of Rs. 1/- on
and the Policy is in force, the Basic Sum Assured plus policies of sum assured of Rs. 40,000/- and Rs.1/-
accrued bonus declared from time to time will be for every Rs. 10,000/- of sum assured in excess of
payable at the end of the policy term. For example :- Rs.40,000/- will be given.

Revival of lapsed policy :

Name of Policy Sum Bonus Bonus per
the Policy holder's Assured Rate EA annum If the premia are not paid for 6 months in case of
Age policy not completed 3 years from the date of
PLI acceptance, (or) 12 months in case of policy more
Endowment 25 Rs. 10 Rs. 52/-* 52000 than 3 years from the date of acceptance, then the
Assurance lakh policy becomes lapsed. This needs revival to make
it active. Revival may be made on any number of
occasions during entire term of the policy, provided
a period of consecutive 5 (ve) years should not
Maturity Duration of Total Sum Total Maturity have passed from the date of rst unpaid premium.
Age the Policy Assured Accumulate Amount After credit of due premium with interest @12%
d Bonus* per annum and a good health certicate, the policy
can be revived. Revival amount may be paid in one
60 35 Rs. 10 Rs. 18.20 Rs. 28.20 lumpsum or in convenient installments not
lakh lakh lakh exceeding 12 installments.

Income Tax Rebate :

*Bonus is declared on yearly basis and amount in the Income tax rebate is available under the section
table above is calculated on the bonus rate for the 80-C of Income Tax Act.
year in a PLI EA Policy.
Nomination Facility :
Grace Period :
Yes, nomination can be made for upto three (3)
Premium shall be paid in advance on the first day of persons. A policyholder is advised to nominate
each month. However, grace period is allowed upto person (s) to whom the sum assured shall become
the last day of the month. payable in the event of his/her death, so as to save
his/her legal heirs the trouble and expense of
Freelook Cancellation : obtaining legal title to the sum payable under the
policy. If all nominees die before the policy matures
The policyholder may get the policy cancelled within for payment, the
15 days from the date of delivery of the acceptance
letter/policy bond at the given address. On such
cancellation premium paid by the policyholder will be
refunded after deducting medical charges, if any, and
proportionate premium till the date of application of
cancellation.
amount secured by the policy shall be payable to the Do’s and Don’ts
policyholder or his/her heirs/legal representative on
the basis of prescribed legal documents as the case Do’s
may be.
1. Keep the policy bond in a safe place. It will be
Assignment of a Policy : required at the time of maturity or Survival Benefit.
You will also require it if you are availing a loan or
Policies may be assigned by the policyholder either want to assign your policy.
for valuable consideration, loan against policy or by
way of gift. 2. Please keep informed your
spouse/Parents/Children as to where the policy is
Conversion of a Policy : kept.

Conversion of PLI/RPLI policy means any alteration 3. Please Check your policy bond and see if your
affecting the date of maturity of contract of date of birth is correctly given therein.
insurance and includes not only alteration from WLA
to EA but also ante-dating or post-dating of the 4. Ensure that the nominees name is correctly
maturity of an EA policy and consequent incorporated in the policy bond. Always keep the
increase/decrease of premium. nomination under your policy alive. It helps during
unforeseen difficulties and saves your near and
Loan Facility : dear ones from avoidable hassles.

Loan may be taken against (i) WLA and Convertible 5. Always remember to quote the policy number
WLA policies after completion of 4 years and (ii) EA everytime in your correspondence.
and YS policies after completion of 3 years. Loan is
not available in AEA/10 year RPLI Policy and Children 6. Always insist on a receipt as a proof of payment
policy. Loan entitlement is calculated on a prexed whenever you make payment at post office
proportion of the surrender value. Interest @ 10 % counters.
per annum is calculated on a six-monthly basis.
Further, interest is payable once in six months 7. Review your insurance needs regularly for
adequate cover.
Surrender of a Policy :
8. When you shift residences, please inform the
Surrender facility is available after 3 years in case of new address to us. Otherwise any communication
WLA, EA, CWLA and YS policies. No surrender facility we send to you, like premium notices,
is available in case of AEA and Children policy. maturity/survival benefit, revival notice etc. may
Surrender value depends on the surrender factor, not reach you.
type and term of policy. Surrendering any policy is
always a loss. Bonus on the reduced sum assured is 9. Always clarify any doubts you have about your
paid only if the policy is surrendered after 5 years. policy with the Postal Life Insurance.

Provision of Appeal : Don’ts

An appeal may be preferred by the claimant against 1. Conceal relevant information or make any
rejection of death claim to the next higher authority misstatements as it may lead to disputes at the
in Department of Posts. time of a claim.

Customer Grievance Mechanism : 2. Fall prey to the spurious calls done in the name
of Post office.
A Policyholder can contact the nearest post ofce,
Head Post Ofce (CPCs), ofce of Divisional Heads / 3. Miss or delay payment of your premium.
Regional PMsG / CPMsG / CGM(PLI) for redressal of
their grievances. Alternatively, policyholder can 4. Failed to update your mobile/e-Mail ID in case of
submit her/his grievance on CRM (Customer any change.
Relationship Management) portal
http://www.postallifeinsurance.gov.in/ or call on toll Abbreviations :
free number 18002666868.
PLI : Postal Life Insurance

RPLI : Rural Postal Life Insurance

WLA : Whole Life Assurance

CWLA : Convertible Whole Life Assurance

AEA : Anticipated Endowment Assurance

YS : Yugal Suraksha

PMG : Postmaster General

CPMG : Chief Postmaster General

CGM : Chief General Manager

CPC : Central Processing Center