Premium payment period for postal life insurance extended

New Delhi: In view of the threat posed by COVID-19 outbreak and the complete lockdown across India, the Directorate of Postal Life Insurance (PLI), Department of Posts, Ministry of Communications has extended the period for payment of due premium of March 2020 up to April 30, 2020 without charging any penalty/default fee.

Directorate of PLI said that although many post offices are functional as part of essential services, the 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 move will benefit approximately 13 lakh policy holders (5.5 Lakh PLI and 7.5 Lakh RPLI) who have not been able to pay premium for current month. As compared to about42 lakh policy holders who paid premium last month, only 29 lakh of them have been able to pay premium for this month till today.

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

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