FAQ

FAQs on Rural Postal Insurance Schemes:.          .                                                          
1.Can private sector workers avail insurance schemes under RPLI?
Yes. Private sector workers can apply for schemes under rural postal life insurance.

2.Can a person residing in urban center avail scheme under RPLI?
No. Customers who come within a rural area can only apply for schemes under RPLI.

3.Is medical examination necessary for all schemes under Rural Postal Life Insurance?
Yes. Medical examination is necessary for all schemes. In case, schemes which do not require medical check-up are availed, the sum assured is maximum Rs.25,000.

4.How do I obtain an insurance scheme under rural postal insurance?
You need to visit your nearest post office for obtaining details and application forms for schemes under rural postal life insurance.

5.What is the mode of premium payment?
A special book is assigned to customers to pay premiums. Alternatively, payment through cheque can also be made.

6.What if I forget to pay premium for one month?
You can make up for lapsed premium in the next month by paying a nominal fee.

7.What do you mean by surrender value of a policy?
Surrender value means the sum that a customer stands to gain when he/she decides to discontinue premium payment and surrender his/her insurance policy.

8.What is the maximum amount that can be availed under the insurance schemes of RPLI?
The maximum sum assured for insurance schemes under RPLI is Rs.5 lakhs.

9.Can I deposit these insurance policies as security with lending institutes for obtaining credit?
Yes. Schemes under RPLI can be used as collateral for security to obtain loans and credit.    Q.     What is PLI?
A. A contract entered into by the Government to pay a given sum of money on the death of an individual to his nominee or himself, if he survives that period.

Q. When did PLI start?
A. PLI as a scheme is available since 01.02.1884.

Q. What is the difference between PLI and other Insurance?
A. PLI is only for Government and Semi-Government employees, moreover PLI is the only Insurer that offers
low premium and high bonus.

Q. Is PLI guaranteed? If so, by whom?
A. PLI is guaranteed by Government of India.

Q. Is there any limit to the number of policies one can take for children?
A. One can take only policies for two children.

Q. What is the necessity sending the PLI Policy Bond to office address of the Insurant, why can this not be sent to the residence of Policy holder?
A. PLI policy are issued to people who are employed under Government/Semi-Government sector etc. That
is why the policy are sent to the Office address of the Insurant.

Q. How can a policy be transferred from one PO to other?
A. The system of transfer of PLI policy is very simple. The policy holder can apply to the Chief Post Master General through the Post Office where the policy stands or the PO in which he desires to pay the premium. The PO will accept the application ad send to the CPMG (PLI).

Q. Which type of PLI policy among your scheme is more beneficial to opt for without hesitation?
A. All policies in PLI are beneficial. Every scheme has some unique features. In EA policy you will get your savings along with bonus after the prescribed number of years.

Eligibility
Q. Who are eligible for obtaining a PLI Policy?
The following are eligible for PLI policy:
  Central Government
  Defense Services
  Para Military Forces
  State Government
  Local Bodies
  Educational Institutions Government-aided
  Reserve Bank of India
  Public Sector Undertaking
  Financial Institutions
  Nationalized Banks
  Autonomous Bodies
  Extra Departmental Agents in Department of Posts
Q. Whether salaried professionals in Private Sector can join PLI?
A. Such categories are not eligible, but they could have RPLI policies.

Q. If one spouse is working in a Government Organization but the other is not, is there any scheme in PLI for both?
A. We have 'Yugal Suraksha' scheme under which both can jointly get a policy, after paying a little more premium, both can be covered under this assurance scheme.

Q. Can one continue the policy if one quits the Government service?
A. One can continue by making payment at any one of the 1, 55,000 post offices throughout the country, even after quitting service..

PREMIA PAYMENT
Q. What is the mode of premium deposit?
A.  The Premium Receipt Book is issued to the Insurants for the deposit of Premium in any departmental PO, and there is a facility of recovery from pay for all employees belonging to the Central Government.

Q. Is there any other mode of payment?
A. The premium can be paid through Cheque

Q. Is premium recovered through salary?
A. Yes, recovery of the premia through salary is possible, in offices where it is remitted directly to PLI. In case where it is not, it is possible by appointing a Group Leader, who collects the premia from the insurants and deposits the in a post office along with PR book. However, premia are to be deposited in any Post Office as per convenience i.e. monthly/half yearly/ yearly where there is no recovery through salary.

Q. Why is the premia for children’s policy higher?
A. As both children’s and parent’s risk is covered.

Q. If one had taken a PLI policy six years back, but after credit of only 20 monthly premium, the insurant could not deposit further premium and now has realized that due to non credit of premium for 36 months, his policy had become forfeited and no amount against that is payable. Is it possible to revive this policy?
A. Yes, before date of last premium, he can apply for its revival and after credit of due premium with interest and a good health certificate, he can cont