Clarification in respect of Post Office Life Insurance Rules – 2011

DIRECTORATE OF POSTAL LIFE INSURANCE

Department of Posts, Ministry of Communications &

Information Technology, Government of India

Chanakyapuri Post Office Complex, New Delhi – 110023

No. 25-1/2011-LI                                                                                               Dated 24.02.2012

To,

All Head of Circles

Addl. Director General (APS)

Sub: -   Clarification in respect of Post Office Life Insurance Rules – 2011

Recently references have received from some Circles raising doubts on following points for clarification thereon. The same have been examined and clarified as under: -

Sl. No.	Doubt Raised	Clarification
1	Whether limit of Rs. 5 lakh prescribed for sanctioned of maturity value of PLI/RPLI by Division Head includes total maturity value payable or sum assured?	The limit of Rs. 5 lakh is for Sum Assured Bonus payable is not included in the aforesaid limit.
2	Whether persons working in Govt. organizations, Nationalized Banks, PSUs etc. on contract basis are eligible for taking policy of PLI?	No. Since their services can be terminated anytime. If their specified requirement is over in that organization.

It is requested to kindly circulate it among all concerned for their information and action accordingly.

This has the approval of Chief General Manager (PLI).

          sd/-

(Vipin Malhotra)

Dy. Divisional Manager (PLI)