Question: Whether salaried professionals in Private Sector can join PLI (Postal Life Insurance) ?
Answer Such categories are not eligible but they can have RPLI (Rural Postal Life Insurance) policies subject to fulfilling other conditions.
Question: If one spouse is working in a Government Organization but the other is not, is there any scheme in PLI for both?
Answer 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.
Question: Can one continue the policy if one quits the Government service?
Answer One can continue by making payment at any one of the 1, 55,000 post offices throughout the country, even after quitting service..
Question:. What is the mode of premium deposit?
Answer 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.
Question: Is there any other mode of payment?
Answer The premium can be paid through Cheque.
Question: Is premium recovered through salary?
Answer 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 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.
Question:. Why is the premia for children’s policy higher?
Answer As both children’s and parent’s risk is covered.
Question:. Can one revive a lapsed policy?
Answer If the premia are not paid for 6 months in case policy is in currency for 3 years (or) 12 months in case policy is more than 3 years old, then the policy becomes void. This needs revival to make it active. Revival shall not be allowed on more than two occasions during the entire term of the policy. Policy can be revived any time one year before maturity.
Question:. What happens if one forgets to pay one’s premium in a month?
Answer One can pay the premium in the subsequent month, by paying a minimum fine of Re. 1/- per hundred of sum assured.
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