The Directorate of Postal Life Insurance (PLI), Department of Posts, Ministry of Communications has given an extension of the period for payment of their due premium of March 2020 up to April 30.
The decision has been taken in view of the threat posed by the outbreak of coronavirus (COVID-19) and the nationwide lockdown,
It has been decided that there won’t be any charge or penalty or default fee for this period.
The directorate of PLI said that although many Post Offices are functional as part of essential services, 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 directorate said.
The decision is likely to benefit approximately 13 lakh policyholders (5.5 Lakh PLI and 7.5 Lakh RPLI)who have not been able to pay a premium for the current month.
As compared to about 42 lakh policyholders who paid premium last month, only 29 lakh of them have been able to pay a premium for this month till today.
Customers registered on the portal have also been advised to pay premium online using PLI Customer Portal
